Operational Business Process Outsourcing Management Of XY Insurance Company

Insurance is one of3financial dominant pillars, its unique functions like economic compensations, financing and social management plays an important role on economy construction, market development and social stability. Over the past decade, Life insurance has grown rapidly in China. Whereas intense competition has forced insurance company to explore new operational model for a more efficient running with lower cost, outsourcing, which is one of the solutions for model transformation has been widely adopted.XY Company is one of those foreign insurance Company has achieved business profit in China. But its operational efficiency and profitability influenced greatly by higher running cost under decentralized operational model. Although outsourcing activities started from business process of contract printing in year2006, followed by scanning, new business data entry and policy maintenance recently. These changes have been paid back with a certain effect, but the fact is:exiting outsourcing administration lacks of an overall planning and organizing. In this circumstance, how to improve organizational efficiency and maintain industry leading risk management capability through well managed outsourcing activities is the problem troubled management most.This study aim at problem-detecting and problem solving by diagnosis and analysis in order to find out the weakness and shortage in exiting outsourcing management. And look for area which has opportunity for the change. Then propose from managerial view of point, for a workable and practicable outsourcing strategy and action plan based on current operation model, operation strategy, organization structure, cost structure, service model, business features and human resource characteristics etc. And expect to establish core operational competition through improvement of running efficiency, cost reduction, process simplification and optimization, service standardization and risk management.Proposed solution for the improvement of outsourcing management in this study refers both to theory abroad and domestic in the field of finance outsourcing, and adopt the way of combination of theory and practice to design the outsourcing strategy, follow-up action to a to-be model. It should be valuable to enlighten decision making on outsourcing not only for XY Company, but also for other company in insurance industry in China.