Which of the following is an example of an outsourced service provider?

Study for the CII Certificate in Insurance - Introduction to Risk Management (I11). Review key concepts, understand risk principles, and test your knowledge with multiple choice questions.

An outsourced service provider is a company or individual that is contracted to perform services for another business that can be handled internally but may be more efficient or cost-effective to outsource. In this context, loss assessors serve as an example of an outsourced service provider because they specialize in evaluating and quantifying losses, often working on behalf of insurers or policyholders to assess claims related to property damage or other covered events. Their expertise allows businesses to rely on external specialists rather than maintaining an in-house team for this specific function, thus optimizing resources and ensuring professional assessment.

Human resources consultants, financial auditors, and marketing strategists can also be considered outsourced service providers in other contexts; however, they do not specifically relate to the insurance industry in the same way that loss assessors do in terms of the services provided. Each of these roles specializes in their respective fields but is not typically linked to the assessment of claims or loss evaluations as loss assessors are. Consequently, loss assessors represent the best example in this scenario.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy