ReSource Pro, a global leader in operations solutions for insurance firms, has announced its expansion into Southeast Asia by opening a new client delivery center in the Philippines. This strategic move is designed to meet the growing demand from US insurance companies and to further diversify its global operations. Additionally, this expansion marks a significant milestone for ReSource Pro, as it now employs over 10,000 full-time staff.
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 organizations”, 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 prioritize 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 marks ReSource Pro’s second international expansion of the year, following the launch of a client delivery center in Serbia earlier in 2024. With this new addition, the company now operates in six countries across three continents. ReSource Pro delivers strategic operations support to the insurance industry, assisting companies in optimizing processes, boosting productivity, and enhancing profitability. Serving more than 1,800 clients globally, the company provides business process management, technology solutions, and advisory services.
The expansion coincides with the growing prominence of digital insurance worldwide, particularly in Asia. A 2023 study commissioned by Chubb revealed that 62% of financial executives in Asia anticipate that embedded insurance will account for over 10% of their revenue within the next three years. Additionally, 43% of Asian consumers prefer to purchase insurance through digital channels, with a strong trust in established banks and insurers as providers.
The move towards digital insurance is part of a wider global trend, especially in regions such as Asia and Latin America, where fintech and e-wallet platforms are gaining popularity. Isabella Carvalho, Chubb’s Asia-Pacific head of digital, notes that fintech companies and banks are progressively incorporating insurance products into their digital services to address consumer demand for more accessible and affordable coverage options.