Case Study on Policy Checking Services for a US-based Insurance Service Provider
The Customer
Our customer is a New York-based risk insurance agency which specializes in personal and commercial insurance. They are one of the leading insurance service providers in the area who deal with the insurance needs of 1,000 individuals and families and about 2,000 businesses in the tri-state areas.
The Challenges
The client had recently expanded its range of services and had started providing additional services to their customers which in turn resulted in a significant delay in processing policy checking, generating certificates of insurance, updating the agency management system and other miscellaneous back-office tasks. The client was looking for a cost-effective solution to streamline the entire process.
Our Solution
Keeping in mind the client's requirements and the various challenges, the following solution was devised by us -
- A dedicated team of insurance specialist was formed to cater to all the back-office needs of the client
- Our team ensured that all the required documentation was complete, accurate, and was handled in the most cost-effective way
The Results
The following results were obtained after our team started providing the required services to the New York-based client -
- Our processes greatly improved the operational efficiencies and shortened the claims processing cycle for the client
- The important process changes made by the Flatworld team has reduced the cost by almost 22% of the overall cost spent on back-office services for the past three years
- Claims standardization and reduction in manual processing has enhanced the productivity of the firm
- Effective tracking, fraud detection and tracking re-insurer's recoverable has become much easier and has resulted in greater customer satisfaction
Choose Flatworld Solutions for the Best Policy Checking Services
Flatworld Solutions has been providing policy checking services and a range of other insurance services to major insurance service providers across the globe. Our cost-effective services and our promise of on-time delivery ensure we are always ready to meet your day-to-day operational challenges head-on. Our vast experience in this field helps us understand different insurance business models and customize our services to suit the same.
If you are looking for a reliable insurance back-office operations service provider, then feel free to write to us or talk to one of our representatives and we will be more than happy to help you.
