The insurance business is under extreme strain owing to intense competition, fickle customer loyalty, and stringent regulatory practices. This has resulted in an increased amount of pressure on insurance companies to change and streamline their business models, and improve process efficiencies. Many industry leaders are therefore increasingly turning to insurance process outsourcing to help them streamline their cost base, and increase operational efficiency.
Specialized Services for Licensed Insurance Carriers
At Flatworld Solutions, our insurance services are customized to suit diverse business requirements. We understand that different insurance carriers require different solutions based on current circumstances and operational objectives, and we adapt our services to suit the same.
Our experienced teams of insurance professionals have been handling the following services for global insurance providers -
Our insurance back office experts can help in improving your new business set up operations quickly and efficiently. Whether it is setting up a new customer, or receiving quote requests from various agencies and then entering them into the quoting tool, we take care of all the important procedures.
We can help your company save valuable time by preparing insurance policies in accordance with the details submitted by your clients and sending the findings to the underwriters, in case of discrepancies. The inputs provided by the underwriters are then used by our insurance professionals to generate the final policy document, after verifying customer and policy details.
Our distinctive approach to policy servicing helps our clients offer best-in-class services to their customers, and retain them in the long run. Our professionals receive adjustment requests from customers, analyze the change request to determine its impact on the premium, update the policy details and finally issue fresh insurance certificates when required.
Loss run reports, comprising of the history of claims made on a commercial insurance carrier is a valuable tool for any insurance provider. We have teams dedicated to the processing of loss run reports. From sending loss run requests to other insurers, analyzing them and preparing the claims report, to dispatching the claims reports to underwriters, we make sure the whole process is quick and uncomplicated.
Claims by customers need to be settled properly and promptly. As a result, processing claims carefully becomes a complex and expensive process. Our insurance experts offer a hands-on approach to claims processing including first response units for claims, thorough investigation to avoid fraudulent claims and proactive management of customer information. Therefore, they are able to ensure that the claim is covered under the policy by verifying all liabilities and damages.
At Flatworld, our professionals help you to effectively plan and manage policy renewals by keeping a track of all renewals, and sending prompt renewal reminders. They also coordinate with the agencies to receive new renewal requests on your behalf, and ensure that any adjustments to the policy are taken into account before revising the premium. This means you can focus on providing more competitive prices to your customers at the time of renewal.
Our Insurance billing experts help our clients simplify their billing process. This ensures complete accuracy and timely delivery of all invoices, regular follow-up for timely collection of payments and recording them correctly, maintaining archives as per the request of the client and generating accurate financial reports for the top management. This in turn leads to significantly lower administrative costs and improved cash flow for first-party insurance companies.
Insurance Process Outsourcing Customers We Serve
At Flatworld Solutions, our insurance outsourcing solutions are built on our experience and innate knowledge of handling various insurance services for our global clients. For a licensed insurance carrier, outsourcing insurance services is the best way to save time, minimize expenses and increase profits. This in turn can give them an edge in the rapidly growing and highly competitive insurance industry.
We understand the pain points that multitude of global insurance carriers face on a day-to-day basis. We assist our esteemed clientele comprising of leading Insurance carriers by handling issues pertaining to diminishing customer loyalty, dwindling margins, product commoditization, shrinking premium growth, price sensitivity and frequent regulatory changes.
We have over 12 years of experience in meeting the requirements of our clients belonging to the insurance industry. We have provided tailored insurance services for varied clients such as -
Claims processing companies
Third-party administrators (TPA)
Property insurance carriers
Casualty insurance carriers
Commercial insurance carriers
The Flatworld Advantage
We strive to offer the best solution for your insurance outsourcing needs at a very competitive price. Outsourcing to Flatworld Solutions provides the following benefits -
Experienced and trained insurance professionals
Quick processing time with 24/7 insurance processing services and support
Reduced overhead costs
Extra time and resources to focus on core business activities
Significant increase in profits
Guaranteed security & privacy of Information
Outsource Insurance Services Now!
At Flatworld, we are dedicated to giving you the best insurance back office services. We have an in-house team of professionals experienced in different verticals of the insurance value chain; such as, Property and Casualty, Life, Health, Annuity etc.
Contact us to find out how we can leverage our in-depth knowledge of the insurance sector with the ability to offer low-cost, fast, flexible, and scalable solutions.