Outsource Life Annuity Insurance Claims Management

Life Annuity Insurance Claims Management

FWS handles the settlement process for life annuity insurance claims to help your clients cope with the passing of their loved ones

Is your business ailing due to frequently changing regulations? Is your annuity claims management team facing difficulty in making informed decisions regarding settlements due to their attention drawn towards backlog reduction? Today, life insurance carriers across verticals and irrespective of their size are trying to reduce insurance processing times, improve their customer satisfaction ratios and streamline their operations while cutting down on costs.

At Flatworld, our life insurance claims management services empower insurers and examiners to focus on the needs of the claimant while streamlining the process flow across the organization. Our process-driven approach simplifies the most mundane and repetitive tasks while bringing in automation that can evolve with the times and leave your customers satisfied, and your processes optimized for growth.

Insurance Back-office Support

Who Will Benefit from Flatworlds Insurance Back-office Support - Flatworld Solutions

The Life Insurance Claims Management Services We Offer

With our technology-driven case-by-case claims management for life insurance and rules-based processes, your examiners can address the individual needs of your customers while still retaining their hold on the claims process across claimants and policies. Our proprietary workflow automation for annuity claims management can help life insurers in the following ways -

  • Drastically reduce claim operations costs by reducing manual processing
  • Improve claims processing cycle and deliver complete claims before their due dates for enhanced customer satisfaction
  • Enable highly secure sharing of all policy and claims related documents online for speedier processes
  • Streamlined document processing at every stage of the life insurance claims management process
  • Integrated customer information systems for better operational efficiency
  • Reduced risk as compared to traditional paper-based processing
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Insurance Software we use

Vertafore Nexsure Aspire InsurancePro HawkSoft Agency Matrix Applied Agency Management Newton Agency Solution Agency Systems Insly SEMCAT A1 Tracker Jenesis Agent & Broker Software (ABS) SIBRO 1app - C2MS Insurance Software AgencyIntel QQCatalyst Intuit QuickBooks LoanAssistant Sage BytePro CheckMark MultiLedger Lending Pro Software Calyx Software Encompass360 Mortgage Lens EverString Infer RADIUS Board Statistica Decisioning Platform SAS Advanced Analytics IBM SPSS HALO Analytics

Our life insurance claims management services include -

 Life Insurance Sales & Service
 Life Insurance Underwriting & Support
 Policy Administration for Life Insurance
 Life Insurance Risk & Compliance
 Life Insurance Premiums and Billing Management
 Life Insurance Claims Management
 Actuarial Research & Analytics for Life Insurance
 Other Shared Services
 Procurement & Claims Supply Chain
 HR & Payroll Services
 Life Insurance Consulting Services

Annuity Claims Management - Our Key Differentiators

Our unique proposition lies in our ability to leverage onshore, near-shore, and offshore resources in a combination which works for you, creating a network of human capital aligned to your needs and ensuring a high-quality of delivered services. Some of the many ways you can benefit when you outsource annuity claims management to us include -

  • Simplified Claims Setup

    • Our highly technical and AI-driven simplified processes can handle as many policies as possible with multiple claimants to reduce the time and effort it takes to manage complex life insurance claims
    • Table-driven AI capabilities assign a complexity factor to each and every claim coming in, ensuring claims are always dealt with on the basis of complexity, and freeing up important time for the harder ones
    • Leverage automatically created forms and other correspondence with the required blanks filled in while complying with regulations and speeding up the process
    • Omni-channel interaction avenues ensure your customers can get through to you through different channels and devices such as the web, contact centers, social media, mobile devices, etc.
  • Optimized End-to-end Claims Management Channels

    • Sophisticated data and policy retrieval processes ensure all client systems and policy administration go on without a hitch, allowing you to find historical data easily
    • Legacy policy administration systems are also supported by our unique business-defined rules
    • Dynamic life annuity case management ensures claims can be managed throughout their life cycle. Your employees receive access to cases based on their roles, making it easier to manage multi-level SLAs and ensure approvals for the same are automated
    • Real-time access to a case file with a holistic view of the claimant's history and current claim requirements
  • Enhanced Auditing and Management

    • Our in-depth self-documenting solutions can automatically generate the required correspondence with the appropriate case response and specific regulatory language for auditors and regulators
    • Availability of both real-time and historical data in the form of easy to understand reports provide tremendous insight into cycle and process times
  • Improved Asset Retention

    • Our intelligent processes route claims to an examiner within your list who best matches the requirements ensuring better-personalized service
    • A set of rules defined by your business goals constantly evaluate the financial requirements of a claimant, and can forecast outcomes for better retention
    • Offers provided to claimants are easily scripted in a clear and concise manner by AI, thereby offering personalized service to your customers
    • Constantly improving predictions due to automated tracking records which analyze your customers' responses and tweak the correspondence for better acceptance

Annuity Claims Management Process

Flatworld follows a transparent process in the execution of the project. We not only offer clarity in pricing but also in the way we handle your data as well as the project as a whole. Our workflow in Annuity claims management is as follows -

Requirement Collection  

01. Requirement Collection

Thorough back and forth engagement, we will gather your requirement in detail determine the best solution and the ideal approach

Life Annuity Insurance Claims Management Customization  

02. Life Annuity Insurance Claims Management Customization

We will customize the service to your preference by adhering to the regulatory compliance of life insurance companies

Project Execution  

03. Project Execution

The project will be executed according to the plan and delivered within the stipulated timeline

Feedback and Optimization  

04. Feedback and Optimization

We will carry out a simple survey and gather intelligence to improve the service experience and the quality

Other Services You Can Benefit From

Why Choose Flatworld Solutions for Life Insurance Claims Management?

At FWS, we provide end-to-end services across the annuity claims value chain as well as boutique services for better claims management. Our clients include some of the top insurance carriers in the U.S., U.K., Australia, Europe, Asia Pacific, and Gulf regions as well as countless SMBs. By partnering with us you can benefit from the following -

  • Certified Life Annuity Insurance Claims Management Service Provider

    Flatworld Solutions is a company that has established itself in the competitive market since its inception in 2004. We offer ISO 9001:2015 accredited insurance BPO solutions that will give you the best value and quality results even if you are tight on budget.

  • Exceptional Data Security

    We take great care to ensure that your data is handled professionally. The steps we take guarantees the safety of your confidential data no matter what. Our efforts have been recognized with ISO/IEC 27001:2022 certification.

  • High-quality Service

    The service quality is unmatched when you outsource life insurance claims management because we handle data with sensitivity so that clients and their insurers can have a happy experience.

  • Quick Turnaround Time

    We are specialized in delivering the annuity claims management service at lightning speed. Since we understand the value of your time better than anyone else we ensure that your time isn't wasted waiting for results to manifest.

  • Scalable Life Insurance Claims Management Service

    Apart from the usual concerns, life insurers are further burdened with legacy systems which just cannot cope up with modern demands, and therefore have many ad-hoc manuals and time-consuming processes. This is where our scalable service comes in. Without significantly altering your existing set up you can make the best use of the available resource to streamline the performance.

  • Cost Effective Services

    While the quality of our services ensures our customers never look beyond us, it is our flexible pricing rates which ensure you never feel that you are paying for services which are not required. By allowing you to mix and match between resources while receiving benefits of a full-time employee, we ensure all your requirements are met in the most cost-effective manner.

  • A New Transformative Model of Doing Annuity Insurance

    At FWS, we understand challenges being faced by the insurance industry and have helped thousands of clients on their transformative journey by deploying our process-driven and time-tested value creation framework which addresses their business problems.

  • Single Point of Contact

    We can provide a project manager who will collaborate with the claims management team to bring the freshest reports and updates. With a dedicated person who can be reached by your preferred means, you will never have to eagerly await the response.

  • Skilled Life Insurance Agents

    We have a large pool of exceptionally talented and qualified employees operating in insurance and claims operations for different stages of the management cycle. They are well-versed in the regulatory requirements across different geographies and have worked on leading industry platforms thereby setting the high standard of service our clients expect from us. These experts are further complemented by a team of Six Sigma experts who help to drive process and operational improvements across your value chain.

  • Embedded Analytics & Custom Tools

    Our proprietary analytics framework is a major reason behind our success, as our whole suite of service solutions employ them and help reduce the speed at which processes run and enhance your customer experience. With the help of embedded analytics, we improve the following processes -

    • Life Annuity Claims Life Cycle Management
    • Annuity Claims Supply Chain Optimization
    • Single Touch Life Insurance Claims
    • Claims Fraud Detection
    • Loss Modelling and many more
  • Superior Infrastructure

    At FWS, our array of solutions for multiple service verticals have one thing in common, our state-of-the-art technological infrastructure. We leverage various management solutions such as FleetNet, MotorGuard, RepairNet, and several more to assist clients in automating their legacy systems and simplify their processes. With the help of our technological prowess, we can help you achieve your goals faster while ensuring better customer satisfaction ratios.

  • A Complete Portfolio of Services under One Tree

    Our offerings for life insurance providers are spread across multiple functions and verticals such as specialized business, customer support, policy administration, life insurance underwriting and issue, agent management, etc. By covering multiple product lines such as retirement solutions, annuities, and investments we can service millions of transactions on a yearly basis for our clients who belong to disparate backgrounds.

  • Secure Data Exchange

    If sharing data over the Internet is your concern, then we have you covered. Our VPN and SFTP systems are a promising choice to send your data without any risk from external attacks. This is because we maintain our networks in such a way that a potential source of harm is discovered before it becomes severe.

  • 24/7/365 Availability

    We have global contact centers where agents work round-the-clock throughout the year to give you instant support. So, if you have questions or need clarification just shoot us an email or ring our agents. We are never too remote when you need to reach us.

Client Success Stories

FWS Provided Policy Checking Services for a US-based Insurance Service Provider

FWS Provided Policy Checking Services for a US-based Insurance Service Provider

Flatworld Solutions fully scrutinized policies for a US client because the client was overwhelmed by policy backlog as soon as they expanded.

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FWS Streamlined Back-office Solutions for a California-based Client

FWS Streamlined Back-office Solutions for a California-based Client

A based out of US client suffered from an unforeseen bottleneck triggered by business growth. Flatworld optimized the back-office functions by becoming cognizant of their concerns.

Read more

Outsource Annuity Claims Management to Flatworld Solutions

With 20 years of experience, FWS has leveraged its long history of working with life insurers having peculiar requirements and facing complex regulatory challenges. Being insurance BPO experts, we understand that annuity claims management is an extremely crucial activity which today stand atop on the list of life insurance outsourcing requirements. The complexity of managing different claims with multiple systems while requiring manual hand-offs can not only create errors but also slow down your other processes to a crawl.

At FWS, we help organizations simplify claims management for life insurance by streamlining the process for employees and customers alike, while reducing costs and boosting profits.

Contact us now to know more about the life annuity claims management, rates, and service benefits.

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