SOURCE: SourceHOV

SourceHOV

May 20, 2011 12:53 ET

SourceHOV to Showcase BPO Solutions at ACORD LOMA Insurance Systems Forum

Company to Demonstrate How BPO Helps Property and Casualty Insurance Providers Increase Emphasis on Customer Retention While Reducing Costs

DALLAS, TX--(Marketwire - May 20, 2011) -

WHO:
SOURCECORP, Incorporated, and HOV Services, both leading providers of business process outsourcing (BPO) and Knowledge Process Outsourcing (KPO) solutions, have recently merged to become SourceHOV.

WHAT:
Will exhibit its comprehensive BPO solutions at the annual ACORD LOMA Insurance Systems Forum

WHEN:
May 22-24, 2011

WHERE:
The ACORD LOMA Insurance Systems Forum will be held at the San Diego Convention Center. SourceHOV will exhibit in booth no. 809.

DETAILS:
According to a recent study, BPO Opportunities in Insurance: 2011, published in March 2011 by industry researchers at NelsonHall, the relative low growth in new business, combined with significantly increased price competition in the property and casualty sector is leading insurance companies to focus on customer retention and cross-selling into their existing customer base. While cost reduction initiatives still dominate organizational thinking, many companies in this sector are now turning to BPO solutions to improve the customer experience and support emerging market initiatives.

SourceHOV will be on hand at ACORD LOMA to highlight its BPO offerings, which include mailroom and imaging services, electronic gateway, transactional content management and workflow processing services, web-based electronic distribution and legacy system integration, online hosted repository and workflow, fulfillment services and more. SourceHOV's solutions are proven in many cases to reduce expense-to-premium ratios by 25-35%, reduce internal software and system maintenance by 15-20%, and improve claim processing cycle times by 30-40%.

Conference attendees are encouraged to stop by the SourceHOV booth to learn more about these solutions and register to win a Sony Bloggie™ Touch.

About SOURCECORP®
SOURCECORP, Incorporated provides business process outsourcing solutions and specialized high value consulting services to clients throughout the U.S. SOURCECORP leverages deep horizontal process knowledge into information-intensive industries including commercial, financial, government, healthcare, and legal. Headquartered in Dallas, SOURCECORP serves clients throughout the United States through a network of locations in the U.S., Mexico, India and the Philippines.

For more information about SOURCECORP's solutions, including case-study examples, visit the SOURCECORP website at www.sourcecorp.com.

About HOV Services

HOV Services Limited, one of the largest end-to-end BPO companies headquartered in Chennai, India, provides Finance and Accounting services in the BFSI, Healthcare, Government, Telco, Publishing, Retail, Commercial and Industrial Manufacturing industries. Its clients include over 50 percent of the FORTUNE 100® and are some of the largest companies in the industries served. RightShore delivery centers are strategically located in India, North America, China, Canada and Mexico with over 8,800 associates working together to Exceed Expectations® of our clients. For more information about HOV Services, please visit www.hovservices.com.

About SourceHOV

Combined, the company, with approximately $480 million in revenue, is one of the largest pure play BPO and specialty consulting companies in the industry, serving customers in more than half of the Fortune 100® with deep domain expertise, including document centric applications, in Healthcare Payer and Provider, Finance and Banking, Public Sector, Publishing, Legal, Insurance, Manufacturing and Commercial industries, including specialized consulting services for construction management, tax benefits, legal claims settlements and economic consultancy. With the combination, the company's global workforce is now more than 14,200 employees operating from approximately 80 delivery centers in 6 countries including the U.S., Mexico, Canada, India, China and the Philippines.