Insurance plan communications can easily cost companies millions of dollars each year. The sheer volume of production is substantial, even as some consumers switch to digital-only. These documents also have personal information, so safeguarding it is another added cost to the operation.
Many insurance companies believe that keeping this in-house is the only way to protect the contents and meet compliance. However, a transactional printer could be the partner you need to get these expenses off your budget. What makes them so different and trustworthy?
Transactional printers specialize in creating confidential and protected communications, following every compliance protocol and security best practice.
If you’re still undecided, keep reading to learn why a transactional printer is an insurance company’s best friend.
Outsourcing Drives Cost Savings
The leading reason most insurance companies outsource is for the cost savings. Operating an in-plant is a huge expense. Equipment, technology, labor, space and storage, materials, and postage will cost you more in this model. It’s not sustainable long term, and that budget will continue to increase.
Outsourcing eliminates most of those costs and requires no capital expenditures. Plus, transactional printers offer better pricing on materials and postage because of their high volume.
Every business is looking to reduce costs enterprise-wide. This is an opportunity to do just that without any concerns regarding quality, security, and compliance.
Outsourcing Is Secure with a Transactional Printer
One reason some insurance providers are hesitant to outsource relates to security. Data sharing is necessary. However, your data will always be secure with the proper protocols in place, including encryption, firewalls, and intrusion prevention systems. APIs are the safest avenue for two-way data communications.