Finding skilled staff in the insurance industry can be challenging, particularly for regional brokers facing a limited talent pool and metropolitan ARs grappling with high wage expectations. To tackle this issue, our brokerage developed a cost-effective overseas insurance support service over a decade ago. This solution has helped us and many others enhance profitability, customer service, and broker efficiency.
Why Consider Overseas Insurance Support?
Many businesses turn to overseas staffing when faced with recruitment difficulties. However, most solutions fail to address the long-term needs of insurance brokerages due to issues like:
- High staff turnover.
- Limited industry knowledge and skills.
- Lack of staff progression opportunities.
Our model overcomes these challenges by enabling you to hire dedicated staff members who work in an office with other insurance professionals, receive proper training, and adapt to your systems and workflows.
Key Benefits of Our Insurance Support Service
1. Correct Staff Selection
Every role requires a unique skill set. Whether you need a repetitive task processor or a broker’s assistant capable of managing client interactions and insurer communication, we ensure the right match for your needs.
2. Staff Progression
Our model encourages career growth, similar to locally hired staff. Many team members advance to complete their Tier 1 and 2 qualifications, eventually managing the full client lifecycle.
3. Industry Knowledge and Collaborative Support
With staff working in a centralized office, they have access to a wealth of industry expertise. For example, if faced with a challenging property coverage request, a team member can leverage office-wide knowledge to find alternative solutions.
4. Location and Longevity
Our support facility is based in Vietnam, offering several advantages:
- Minimal competition for staff, ensuring stability.
- Comparable time zones to Australia.
- Excellent English proficiency.
- Suburban office settings reduce staff commute times, enhancing job satisfaction.
5. Staff Longevity
Over eight years, we’ve experienced minimal staff turnover, thanks to:
- Careful selection of candidates suited to specific roles.
- Opportunities for career advancement.
- Competitive wages based on skills and experience.
6. Scalable Team Development
As your business grows, so can your team. One of our broker clients, for example, expanded to a six-member team, appointing a team leader for management and training.
Transparent Costs and Fair Pay
Our approach is unique in this space. We are fully transparent about staff wages and charge only a management fee to cover office and accounting costs.
- Entry-level processing staff: Starting at $17,000 AUD per year.
- Experienced staff with Tier 1 qualifications and 5+ years’ experience: Around $30,000 AUD per year.
Paying competitive salaries ensures staff retention and allows them to deliver exceptional service, making them a valuable asset to your business.