As a highly regulated industry with requirements for regulated communications, you face many challenges in printing and mailing statements. P&C insurance documents are essential for your customers, but you don’t have to do this in-house. Business printing services from a transaction print company are a secure, cost-effective, and highly accurate solution.
Why Outsourcing Makes Sense for P&C Insurance Statements
While many of your policyholders have transitioned to digital communications, you still have high volumes of print and mail. If you operate an in-plant, you’re aware of the rising costs of materials, postage, equipment, technology, overhead, and labor. Even if production numbers decrease, these costs don’t. In fact, you may be spending more per piece.
An initial driver of outsourcing is cost savings, which you can realize from a partner where you’ll benefit from their buying power for materials, including paper, which has seen many price spikes in the past two years.
Postage is also a huge expense for mailing your P&C insurance statements. A transactional mailing company uses postage optimization strategies, including address scrubbing, presorting, comingling, and other approaches to ensure the best rates. You can also remove all the capital expenses for equipment, technology systems, and space.
Reducing costs is a primary motivator in outsourcing, but there are more reasons it’s a smart business move. Here are other ways you’ll benefit.
- Greater accuracy: Transactional printers use advanced processes and equipment to ensure each document inserts into the correct envelope. At PCI Group, we have a 99.9999% accuracy rate!
- Improved quality: An organization that focuses solely on transactional print bakes quality into the workflows and can ensure that your documents are consistent.
- Enhanced compliance: The parameters around compliant communications are well-known and precisely followed by those that work in the field. Ask about certifications they hold that demonstrate their commitment to producing compliant communications.
- Better customer engagement: By outsourcing to professionals that use a dynamic printing approach, each statement can include personalized information for that policyholder. You can say so long to inserts, too.
What Can You Expect from Business Printing Services?
Moving from in-house operations to outsourcing doesn’t have to be painful. It should be seamless and smooth when you work with those with prior experience. As you evaluate potential partners, you should ask specific questions about their transition strategy and implementation process.