Premium Billing Outsourcing or PBO is a highly specialized sourcing strategy used by insurance carriers, managing general agents, brokers and agencies to support the account servicing activities associated with an insurance policy. These specific PBO services are usually offered through multi-year service level agreements for all or portions of the services required.
Xpress Capitals approach to determine the optimal solution begins with a ‘Pathway Business Evaluation’ Methodology. Each custom Pathway addresses the evaluation task in multiple stages ensuring that the current and desired state is identified accurately, including;
- Starting with a clean strategy canvas
- Drafting the value and innovation model
- Implementing strategic sequencing for profitability
- Managing the ongoing process to maximize continuous improvement
The team at Xpress Capital has substantial experience in designing solutions and strategies for insurance premium billing and servicing delivery models.
The 5 stages of our Pathway methodology are as follows: