OSFI outsource list

Outsourcing has burst out of the margins for many property and casualty insurers. The Office of the Superintendent of Financial Institutions (OSFI) lists examples of existing and proposed outsourcing arrangements:

.Information system management and maintenance (software development, data entry and processing, data centers, facilities management, end-user support, local area networks, help desks).

.Document processing (cheques, credit card slips, bill payments, bank statements, other corporate payments).

.Application processing (insurance policies, loan originations).

.Policy administration (premium collection, policy assembly, invoicing, endorsements).

.Claims administration (loss reporting, adjusting).

.Investment management (cash management, portfolio management).

.Marketing and research (product development, data warehousing and mining, advertising, media relations, call centers, telemarketing).

.Back office management (electronic funds transfer, payroll processing, custody operations, quality control, printing, purchasing).

.Real estate administration (building maintenance, lease negotiation, property evaluation).

.Professional services (legal, accounting, audit, actuarial).

.Human resources (benefits administration, recruiting).