(Photo by Luis Paganelli.)
Total Program Management Inc. (TPM, Ronkonkoma, N.Y.), a program manager for health care workers’ compensation, has implemented an outsourced solution for a client through a BPO solution with Instec (Naperville, Ill.) and MIS Insurance Services (MIS, Maitland, Fla.).
TPM’s client, a specialty program underwriter, required business process outsourcing (BPO) and technology outsourcing services to rate, quote and bind business.
“We needed a turnkey solution for our clients, with an easy-to-use front end, and we needed to get it up and running quickly,” comments Chris Foy, president, TPM. “Given these constraints, outsourcing made much more sense than building a system in house.”
TPM identified Instec’s Quicksolver system as having a reputation for fast implementation. Instec partner MIS was selected to provide technology outsourcing services to offload front-end setup and back-end systems management, according to an Instec statement. TPM signed a contract for the solution on Jan. 1, 2015, began quoting same day and bound its first account on Jan 15, according to an Instec source.
Ray Simon, President, Instec.
“Instec and MIS have built a strong alliance based on the shared goal of removing time-consuming administrative tasks for our customers,” comments Ray Simon, president, Instec. “Instec’s ongoing management of bureau-based rates, rules and forms, and MIS’s comprehensive outsourcing services enable our customers to respond much more quickly to new business opportunities.
Shared Cost of Service Model
TPM outsources all back-office business process to MIS, from quoting and binding to reporting, through a web-hosted solution that the vendors say eliminates the need for TPM to purchase any new equipment. All services are provided by MIS on a written premium basis, meaning that TPM is only billed when it collects from its client, the Instec statement asserts.
“We believe in a shared cost of service model,” comments Kris George, president, MIS. “It’s a partnership approach where the cost of MIS services increases or decreases based on the size of our customer’s program.”