ReSource Pro, a global provider of operations solutions for insurance firms, has announced its expansion into Southeast Asia with a new client delivery centre in the Philippines.
The move is part of the company’s efforts to address increasing demand from US insurance companies while diversifying its global operations.
This expansion also aligns with ReSource Pro surpassing the milestone of 10,000 full-time employees.
Dan Epstein, CEO of ReSource Pro, attributed the company’s rapid growth to a 400% expansion of its client base over the past five years.
“We’ve been able to maintain an impressive velocity for hiring without losing focus on the insurance technology and process knowledge needed for our delivery centres to be successful in supporting the diverse operational needs of US insurance organisations,” he said.
He also highlighted the strategic importance of the Philippines in offering more flexibility and capacity for client services.
Manj Sohal, senior vice president of service delivery, will oversee the new operations in the Philippines.
Sohal said that the centre will prioritise quality service and the development of local expertise.
“Our first focus is quality, and we will invest in building the insurance expertise and knowledge transfers necessary to ensure client success,” he said, adding that the company plans to grow its presence in the Philippines rapidly.
This is ReSource Pro’s second international expansion this year, following the opening of a client delivery centre in Serbia earlier in 2024.
With this latest move, the company now operates across six countries and three continents.
ReSource Pro provides strategic operations support to the insurance industry, helping companies optimise their processes, increase productivity, and improve profitability. Serving over 1,800 clients worldwide, the company offers business process management, technology solutions, and advisory services.
The expansion comes at a time when digital insurance is becoming more prominent across the globe, especially in Asia.
In 2023, a study commissioned by Chubb found that 62% of financial executives in Asia expect embedded insurance to contribute more than 10% of their revenue within the next three years. Furthermore, 43% of Asian consumers prefer purchasing insurance through digital channels, with strong trust in established banks and insurers as providers.
The shift toward digital insurance is part of a broader global trend, particularly in regions like Asia and Latin America, where fintech and e-wallet platforms are becoming more popular.
According to Chubb’s Asia-Pacific head of digital, Isabella Carvalho, fintech firms and banks are increasingly integrating insurance products into their digital services to meet consumer demand for more accessible and affordable coverage options.
