Insurance sector, QBE might be planning to offshore several hundreds of jobs as parts of its plans to simplify and standardise its operations and maintain a competitive position in the market.

According to the Finance Sector Union (FSU), the insurance company might offshore 700 jobs from New South Wales to the Philippines.  The offshoring will include 46 workers compensation claims officers from the country. Some suggest that the predictions from the FSU are not correct and the offshoring would be much smaller.

QBE spokesperson said in a statement that, "This is a phased transformation and as such, we do not have any final numbers of impacted staff.  However, recent media statements that there will be 700 jobs impacted in NSW are inaccurate, and any potential impact on employees in NSW will be significantly less."

The company has said that it is planning to manage its transition primarily through natural staff turnover and redeployment.  The company is contracted by the state government for managing process WorkCover claims.  It assured that the Compensation case manager jobs will remain in the country.  QBE plans to increase the number of case managers by more than 50 this year.