Are you under pressure to be on your toes due to the elevated risk of financial fraud? Get that concern out of the way by choosing insurance bookkeeping and forensic experts like us. At Flatworld Solutions, we have 20 years of exposure and experience in handling insurance bookkeeping. We have perfected our combat strategy to help you steer clear of hidden risks lurking in the insurance processing. Our insurance booking and forensic accounting services can make your business safe.
Unlike other technology averse vendors, Flatworld Solutions sees innovation as a key to ensure hygiene and transparency in financial records. Our shrewd insurance bookkeeping and forensic accountants can pick up trails of dubious developments before it manifests into a financial debacle. With technology and investigative approach, we will give you the insight to safely navigate the treacherous path in the insurance business.
Insurance Bookkeeping and Forensic Accounting Services We offer
Insurance bookkeeping and forensic accounting is a combo service offered by Flatworld Solutions. We aim to lessen the burden of insurers who process hundreds of claims by handling bookkeeping and investigating discrepancies. Our skilled bookkeeping and forensic accounting experts take great care to fulfill the expectations of your clients while keeping you protected from fraud or duplicitous transactions. FWS' insurance bookkeeping and forensic accounting solutions include -
Invoicing and Accounts Receivable
The process of invoicing to reporting a myriad of functions exist where the risk of inadvertent errors and fraud is higher. Therefore, we will use bookkeeping tools to handle account ledger maintenance, data archiving, and database management. Whether it is account payable or receivable, we make it easier and safer for your team to process the furnished documents. In this way, you can shrink the turnaround time without the risk of processing fraudulent claims.
Data Entry of Insurance Records
Data entry in insurance can be a daunting task where accuracy is paramount. We help our clients to maintain an accurate document trail to prevent documentation errors. Being a reputed insurance bookkeeping and forensic accounting service provider, we understand what it takes to ensure a smooth claims process from claim approval and reimbursement. Our data entry solutions cover logging forms, invoices, policy renewal documents, medical reports, denial management records, and other essential documents to ensure compliance.
Reconciliation of Carrier Statement
The insurance industry has always struggled with ways to reduce transaction and policy issuance cost. At Flatworld Solutions, you can avail a transparent reconciliation that gives you a sense of satisfaction knowing that your account statement is consistent with the carrier's records. Statement reconciliation, which is a part of Flatworld's insurance bookkeeping and forensic accounting will compare the amount reimbursed with carrier statements. If there are discrepancies the account will be reconciled in a quick TAT.
Maintenance of General Ledger
Since insurance accounting is based on the format of general ledger accounting, we will create a highly accurate balance sheet and income statements. Since general ledger maintenance is resource-intensive, we recommend you to delegate the task to a professional insurance bookkeeping and forensic accounting services company like us. Our specialized bookkeeping experts will diligently record financial transactions to compile comprehensive expense reports. You can order audits anytime to measure the precision of general ledger with carrier account statements.
FWS' forensic accounting services includes investigators who can investigate fraud and fund misappropriation. Our investigative approach is focused on helping insurers to fulfill genuine claims. Our forensic accounting can save you from losing thousands of dollars to fraudulent claims.
Insurance Software we use
Our software compatibility is a major reason why so many insurance agencies partner with us. We understand that you might already be moving towards process automation and we ensure we work with your existing systems to provide a comprehensive solution. Our software proficiency covers the following -
Our Insurance Bookkeeping and Forensic Accounting Process
The process involved in insurance bookkeeping and forensic accounting is touted as complicated. However, we take the pain to ensure that our clients are fully aware of what we do and how we handle their data. Therefore, here is the snapshot of the process we adhere to insurance bookkeeping and forensic accounting -
01. Source Document Preparation
The bookkeeping process will commence with the creation of the source document. We will document financial transactions and log entries in the ledger book
02. Document Segregation
The documents will be segregated systematically to consolidate information for easy access and perusal
03. Documenting Entries
The financial transactions will be logged by mapping the cost with consumables. Authorized purpose covered under the policy will be recorded
04. Generating Statements
The balance sheet will be maintained so that it eases the process of filing tax, preparing reports, and carrier statements
After the completion of bookkeeping and forensic accounting, we will create a summary and close the ledger to gear up for the new financial year
Other Services You Can Benefit From
Why Should You Outsource Insurance Bookkeeping and Forensic Accounting Services to FWS?
The task of handling insurance bookkeeping and forensic accounting is best left to professionals who have a thorough knowledge of the workflow and processing tools. In doing so, you can reduce the error and oversight that can lead to complications in processing the claims. Since information must be tracked round-the-clock to maintain accuracy we use the right technology to aid us in the process. Here are substantial reasons insurance bookkeeping and forensic accounting services for agencies can be the right choice for you -
The pricing for insurance bookkeeping and forensic accounting is flexible so that you can take advantage to customize the service to your liking. Our affordable rates ensure that you don't have to entirely use up your budget.
Certified Insurance Bookkeeping and Forensic Accounting Company
Flatworld has 20 years of profound experience and expertise in insurance bookkeeping and forensic accounting. It makes us a true professional that meets ISO 9001:2015 standards of the insurance industry.
Due to digitalization, we have moved our practices online making data management smoother than before. Therefore, we adhere to ISO/IEC 27001:2022 accredited data management policies that give you the scope to trust in our data management philosophy. Additionally, keeping in line with the policy, our agents sign the non-disclosure before project onboarding.
High Accuracy and Quality Service
We have made quality a number one priority so that our insurance services can help you avoid errors, omissions, and other pitfalls causing a backlog. We offer close-knit support to help claimants receive higher value as reimbursement.
We work with agility because we value your precious time. Our services can eliminate unnecessary detour due to shoddy work. We use powerful back-end technology to speed up the process rate.
The insurance bookkeeping and forensic accounting is a scalable service that can save you from contracting new projects when service requirement arises. We offer flexible services that help you to scale up or down with ease.
Single-point of Contact
You can get a SPOC who is trained to handle specific customer concerns through email, phone call, or web chat. You can get personalized support should you prefer agents who are not rotated during the contracted period.
Experienced Team of Insurance Bookkeeping and Forensic Accounting Experts
We have a specialist team who can bring to the table the expertise to uncover fraud and investigate delinquencies in the claims process. You can count on our service and reports to navigate the complex process.
When it comes to having the right infrastructure Flatworld Solutions is always a step ahead. We have the best bookkeeping software along with the hardware and security systems that lets us deliver a robust insurance bookkeeping and forensic accounting services.
Secure Data Sharing
We use encryption technology to send and receive document and data through SFTP and VPN. This is safe for our clients because their data remain inaccessible to unauthorized people.
We provide 24/7/365 support via our call centers. You can reach us through your preferred channels and get timely support.
Client Success Stories
Flatworld Solutions Provided Insurance Services for US-based Insurance Agency
Flatworld Solutions provided support to manage an insurance database to a US client. Additionally, we assisted in the management of insurance accounts and AR functions.
Flatworld Solutions Provided Policy Checking Services for a US-based Insurance Service Provider
Flatworld Solutions helped in speeding up the process for a US client with policy checking services. The services were provided at cost-effective rates in quick TAT.
Outsource Insurance Bookkeeping and Forensic Accounting Services to FWS - Insurance Experts
It is a pride for us at Flatworld Solutions for becoming the go-to partner for insurance bookkeeping and forensic accounting requirements. We have served our clients with a passion for 20 years and have guided them through perplexing challenges that manifest in insurance claims processing. Our insurance BPO services continue to be tie saver for customers bogged down by claims backlog. We always walk the extra mile to understand your pain point before endorsing the solution your business needs.
Reach us now if you are looking for high-quality insurance bookkeeping and forensic accounting to enhance compliance and reduce error.