KPO Consultants

We had indicated in our last post that it is now the time for UK Insurance companies to take advantage of the off-shoring system.

The new RTA portal of UK shall reportedly go live from 6th April 2010 and shall handle RTA personal injury claims valued between £1,000 - £10,000. Reportedly it shall handle the claims of about 500, 000 individuals in UK who get injured in road traffic accidents.The portal is funded and managed by the Association of British Insurers.

The first blow that comes to the work-flow of the UK Insurers is that, currently, Insurers have between 60-90 days to accept or deny liability for such personal injury claims – under the new regulations this time frame will be reduced to just 15 days. This is a major issue that the insurance companies shall have to tackle in the new system.

Secondly, despite suffering personal injury in road traffic accidents many individuals prefer not to get into legal wrangling of RTA PI claims. This is because of prolonged longevity of PI cases. They will now not stay away from ventilating their grievances. Being enthused by the new system such category of people affected in road traffic accidents shall want to ventilate their grievances. This will definitely add to the volume of claims and cases being filed in PI matters in UK.

The cumulative effect of the above circumstances will now put a pressure on the UK Insurers and a little knock on their door shall make them think of alternative methods of managing the voluminous and time-starved work flow.

It is now time for the Indian aspirants and entrepreneurs to step into the arena and market their services to the UK insurers. A sustained effort in the matter is bound to yield favorable results thus leading to the strengthening of a lucrative business-vertical in the Indian LPO industry.