Insurance Back office Management Services

To ensure business growth, optimize your business processes with our insurance back-office support services. We automate resource-intensive chores to ensure smooth functioning

The insurance industry has always been somewhat reluctant about new business practices. As a result, outdated technology, abrupt changes in consumer patterns, compliance issues, and lack of adequate back-office infrastructure continues to plague even the top players in the niche. Are you struggling with back-office management as well?

Outsource insurance back office support services to us; become twice as efficient and save up to 60% on costs. Our back-office administration strategies address your customized needs. Our qualified professionals help streamline and automate resource-intensive and repetitive back-office services. Reach out to us today to increase business process efficiency and explore new growth opportunities.

Our Insurance Back Office Solutions

Explore insurance back office process outsourcing solutions to boost your team's productivity. We optimize your business processes to ensure smooth functioning. Our offerings include -

1. Insurance Data Entry Services

   

   Our team of insurance data entry professionals will perform accurate data entry to save your team from the legwork. In this way, you can remain focused on other priority tasks.

2. Insurance Appointment Setting Services

   

   We set appointments with prospective clients for your sales team to initiate the conversion process and close the sales cycle. We investigate crucial details about your prospects before setting appointments to help your sales reps.

3. Insurance Analytics Services

   

   To ensure you retain your customers in the long haul, leverage our insurance analytics services. Get reports on changing regulations, competitor analysis, claims, insurance fraud, subrogation, and more.

4. Business Process Management for Insurance

   

   We help you optimize your workflow to enhance coordination and revenue. We identify and improve those areas of your business where operations are not optimal.

5. Insurance Accounting Services

   

   Delegate the demanding chores of tallying business finance to our professional accountants. We provide accounting and bookkeeping services for insurance firms so that you can focus on core business functions.

6. Insurance Commission Management Services

   

   Are errors, overpayment, and old manual processes resulting in underperforming commission systems? We can help enhance transparency and accountability and give auditable results by constantly evaluating your sales channel.

7. Warranty Claims Management Services

   

   Are you being swindled off by fraudulent claims? Our qualified professionals scrutinize warranty claims minutely. We meticulously examine each case to determine if requests are clean and valid.

8. Insurance Reporting Services

   

   Our insurance reporting services will help you stay updated about insurance trends. We also provide reports on KPIs, financial portfolios, root cause analysis, etc.

9. Insurance Software Development Services

   

   Whether it is insurance carriers, MGA, or agencies, we have software solutions that seamlessly integrate with your existing backend that are difficult to replace.

10. Insurance Endorsements Processing

    

    We provide insurance endorsement processing support to handle the addition of coverage to an existing policy, amendment of coverage at mid-term, deletion of coverage, premium adjustment, and other tasks.

11. Insurance Customer Services

    

    We provide highly experienced professionals who can empathetically interact with your clients, understand their concerns, and recommend relevant services.

12. Insurance Prospect and Market Research

    

    We provide insurance market and prospect research services for end-to-end segments. We help identify potential problems that lead to revenue loss and develop market strategies for end-users. With our services, you can recognize upcoming insurance market trends and more.

13. Back Office Automation for Insurance Companies

    

    Our services enable agencies and carriers to streamline mundane tasks. It also helps to speed up service delivery, enhance accuracy, and minimize overhead expenses.

14. Insurance Operations Services

    

    Streamline insurance operations by partnering with an experienced insurance operations services company like us. We support you with the best local resources to meet your needs.

15. Quote Summary and Proposal

    • Summarizing coverage details carrier-wise for insurance agencies and carriers
    • Preparing a premium and commission summary table for all quotes which meet clients' proposal requirements
    • Extracting carrier financial ratings for consideration
    • Preparation of a structured spreadsheet to allow quote comparison
    • Populating standard proposal template with the required information
    • Finalizing the proposal and delivering a printable/presentable format
    • Receiving, processing, and issuing a certificate of insurance
    • Managing third-party communication/follow-ups to process requests quicker
    • Verifying contacts for compliance and following up on non-compliant matters
    • Renewal of requests and compliance reporting
    • Processing revised certificates after renewals

16. Certificate of Insurance

    • Receiving, processing, and issuing a certificate of insurance
    • Managing third-party communication/follow-ups to process requests quicker
    • Renewing requests and compliance reporting
    • Processing revised certificates after renewals
    • Verifying contacts for compliance and following up on non-compliant matters

17. Document Indexing and Filing

    • Segregating documents based on their usage
    • Labeling documents as per standard naming convention
    • Indexing documents for easier retrieval
    • Preparing document summary for policies
    • Ensuring documents are searchable and editable as required in the future

18. Loss Run Processing

    • Pulling out loss run data for policy renewal
    • Analyzing loss run and preparing claims report
    • Sending claims reports to underwriters
    • Notifying underwriters if a loss run is available or not
    • Sending loss run requests to previous insurers and receiving reports

19. Policy Checking

    • Reviewing the policy document for completeness and correctness
    • Reporting of variance to the carriers and requesting revision of policy document
    • Insurance claims administration
    • Recording variance based on findings of the detailed review
    • Ensuring that the policy matches the proposal or the previous term policy (in case of renewals)
    • Ensuring a final policy document without any variance

20. Mortgage Title Insurance Processing Support

    • Checking property details
    • Verifying ownership records
    • Checking out the physical conditions of a property
    • Finding out pending litigations

21. Billing and Accounts Receivable

    • Ensuring accurate and timely delivery of invoices
    • Sending reminders/follow-ups for collection of payments
    • Receiving and recording payments
    • Reconciliation of accounts receivable and reporting
    • Checking if the premium installment is as per the customer request
    • Maintaining archives as per the needs

22. Renewal Exposure Summary

    • Tracking renewals in advance
    • Sending renewal reminders
    • Planning and managing policy renewal
    • Interacting with carriers for renewals

23. Accounting and Billing

    • Agency bill invoicing
    • Direct bill invoicing
    • Downloading exception reports
    • Insurance underwriting and pricing
    • Internet payment reconciliation
    • Expense report tracking

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Insurance Software we use

Why Choose Us as Your Insurance Back Office Back Office Service Provider?

Our solutions empower you with the flexibility to acclimate to a changing business. Leverage our insurance back office outsourcing services to experience the following benefits -

• Best-in-class Customer Service

  Our experts offer robust process management with continual suggestions for improvement and automation. We deliver exceptional and consistent insurance back office management services to global clients.

• Tailored Solutions

  We understand that every client is unique; we develop workflows that cater to individual business requirements so that you gain a differentiated competitive advantage in the industry.

• Proven Expertise

  Our qualified experts leverage their proven business expertise to streamline your insurance business processes and deliver quality outcomes.

• Pioneering Technology

  We use the most sophisticated tools and technologies to insert speed and efficiency into your insurance BPO processes. We leverage advanced analytics tools to enhance your business performance.

• Enhance Business Agility

  Our scalable insurance back office management services help you adapt to the ever-changing regulatory environment. We ensure policy compliance and help you address additional demands during peak points.

• Shrink Operating Margins

  We enable you to achieve cost optimization with our proprietary platform-based solutions and global delivery models. Our customized pricing options make us a lucrative business partner.

Additional Services You Can Benefit From

Client Success Stories

Policy Checking Services for a US-based Insurance Service Provider

Read how our team at Flatworld Solutions provided complete policy-checking services to a US-based insurance service provider.

Read more

Flatworld Helped a Chicago-based Consulting Firm with COI Services

A leading Chicago-based brokerage consulting firm was looking for a partner to help them with COI services. Our team delivered cost-effective services to the client.

Read more

Outsource Insurance Back Office Management Services to Us

We are an insurance back office back office service provider with rich domain experience. We assist insurance providers with data and forms processing, medical requirements acquiring, in-force policy services, illustration support, and commission management. In us, you can find a perfect partner to support your back-office chores so that you can stay focused on business growth and revenue generation. Outsource insurance BPO services to us to get -

• A service provider with 19 years of experience
• Quality outcomes; 100% error-free services
• Rich domain experience; six-sigma tools and strategies
• Integrated BPO and technology solutions
• Dedicated project managers
• 24/7 customer service support

Reach out to us now to find out how our insurance back office solutions can help your organization to navigate its business goals.