Being a managing general agent (MGA) in an insurance company is a taxing job, as you have a crucial role to play in almost every aspect of insurance. You are required not only to sell, underwrite, and provide servicing, but are also expected to understand market demands and design appropriate programs; and that's a lot on the plate!
It's important to focus on understanding the exact clients' needs to provide them with a tailor-made insurance solution, but with all the tasks at hand, getting enough time to focus on minutest details takes a backseat. Delegating the administrative processes to a professional third-party provider is the best way to gain precious time and capacity to focus on crucial insurance tasks while ensuring efficient and focused customer engagement.
Flatworld Solutions is a leading insurance back-office process outsourcing company and has been offering comprehensive insurance BPO solutions to Insurance Agents, Carriers, Brokers, and MGA's for over a decade. We can help MGAs with all the back-office support and insights required to achieve better-quality results at a faster turnaround.
Services We Offer
At Flatworld Solutions, our insurance team employs MGAs who have vast experience in underwriting and can help you streamline your insurance back-office process and provide a detailed insurance policy document. They work along with your in-house underwriters to ensure that all the specifications related to policy issuance, insurance coverage and customer details, etc., are error free.
Our team is experienced at using new/varied processing systems required to complete the issuance process and can follow written and verbal instructions to follow through on the issuance process. We perform the following tasks as a part of our services -
Accurate issuance and servicing of policies for specified Lines of Business encompassing multiple Carriers. Also, we provide technical and clerical support to Binding Units
Oversee the timeliness and accuracy of company issued policies
Our essential responsibilities include accurately issuing and servicing new and renewal policies based on issuance instructions provided by field underwriting personnel
Assist the Branch/Binding Units with problems and questions resolution
Provide insurance company personnel, MGAs, retail agents and brokers with professional, courteous, and timely customer service in accordance to service standards
Update documentation (if requested), and consistently meet individual, department, and team SLAs
Follow-up on missing information in a timely manner
Review and monitor company issued policies and other clerical support as required by underwriting staff and management
Additional services: Apart from these services, we provide -
Data Processing / Data entry
Why Should MGAs Outsource Insurance Services to Flatworld?
Flatworld Solutions is a reliable company when it comes to offering a vast spectrum of insurance business solutions to global clients. By outsourcing Policy Issuance, Claims Management, Renewals Processing, Policy Administration, Maintenance and Servicing, Loss Run, Insurance Quotes, COI and other such insurance needs to us, MGAs and insurance agents and brokers can save on time and money while availing professional and superlative services.
MGAs should outsource their insurance requirements to us, if they want to -
Streamline their intense workflows of renewing and issuing policies
Introduce Pre-renewal preparatory phase 60 to 70 days' prior based on client request
Synchronize and improve process flows to ensure high policy quality – 98.5%
Avail more than 30% in annual savings in the first year itself
Get substantial cost reduction
Ensure efficiency in operations and increase profitability and market responsiveness
Avail guaranteed faster turnaround (between 30 minutes to 4 hours, depending on the processes)
Get round-the-clock service and elevate customer service
To ensure scalability for business growth
Our Engagement Model
When you outsource your insurance BPO requirements to Flatworld Solutions, you get a dedicated resource, adequately trained and experienced to handle your project. Our team works 8 hours a day, 5 days a week at the shift time that we mutually discuss and agree upon. In case of any absenteeism, we ensure that you are provided with a backup resource so that there is no impact on your business. We also have team leaders and project managers who closely monitor the day to day task and stay constantly in touch with our clients for any support required.
Flatworld's Engagement model can offer you following advantages -
Approve and issue insurance policies and applications at lower costs
Handle volume fluctuations effortlessly while reducing policy processing costs
Cut down on the time taken to validate, process, and issue new business applications
Improve your process margins by reducing the policy issuance time and lower cost of sale
Create a lasting impression on potential, new, and existing clients through speedier response and responsive onboarding process
Hire Us for Your Insurance Back-office Needs
Flatworld Solutions is a reputed insurance BPO solution provider in India offering reliable and high-quality insurance support solutions round-the-clock to MGAs, insurance agents and carriers for life, property and casualty insurance.
We have state-of-the-art infrastructure and offices at global deliver locations to ensure fastest response and shortest TAT without compromising on the accuracy and quality. With over 11 years of domain experience, we have met diverse insurance needs of our global clients by providing them with a tailored solution. If you want to streamline your customer service options and are looking for a unique solution, contact us for your insurance requirements, we will be glad to assist.