Highlighting TAI Services

As a labor shortage looms in the insurance industry, TAI has designed special outsourcing and reinsurance administration training services to help its clients bridge the gap.

The U.S. Bureau of Labor Statistics projects that the insurance industry could lose roughly 400,000 workers through attrition by 2026 in the United States alone. Most of those departures will come through retirement, the data suggests.

As those professionals hang up their insurance and reinsurance hats, they will take with them into retirement their years and sometimes decades of experience. New hires, internal promotions, and department restructurings will help, but they will not immediately replace the lost knowledge.

Outsourcing benefits

There are three key advantages to hiring a company like TAI for outsourcing needs.

1.  Companies benefit from a team of trained experts who will manage the reinsurance business operations, relieving them of the burdens of recruiting, training, and managing staff.

2.  The peace of mind that comes with accurate, on-time reporting allows companies to maintain their industry reputation and meet operational deadlines.

3.  As the pace of turnover increases, companies can continue to grow their reinsurance business without worrying about human resource challenges.

TAI’s operational efficiency is unmatched within the reinsurance industry. Its outsourcing administration teams use best practices, proven processes, and the most stringent audit controls from the insurance and reinsurance industry to ensure optimal reinsurance administration.

Training opportunities

Through TAI reinsurance administration training, clients’ current and new employees can receive customized teaching on topics such as:

• The components required for TAI

• FAQ/Troubleshooting

• Processing of monthly, quarterly, and annual billing cycles

• Assessment of exception reports from the TAI system

• Review of policy conversions

• Processing reinsured policy corrections

• Processing reinsurance claims

• Processing treaty amendments and rate changes

 This best-in-class training will quickly give employees the confidence to use the system efficiently, minimizing downtime by empowering them with the skills needed to do their jobs well. This knowledge and confidence can create increased job satisfaction and help companies avoid even higher turnover rates.

How to get started

By partnering with TAI services, companies will free up time and resources to focus on business productivity and ensure the highest levels of industry compliances.

For more information on these training programs, contact TAI today. info@taire.com