Insurance business is highly competitive and with several choices available for customers, it's always tough to retain a client year on year. An efficient renewal processing team is the key to business growth as they insure your customers stay with you. Renewal teams often deal with a pile of work and any delay in the process can cost business. At Flatworld Solutions, we can take your renewal requests and do all of the back-end work to allow the underwriters have all information necessary before they even have to give the revised premium. This will save time and keep the whole process working much more efficiently.
Hundreds and even thousands of policyholders have insurance policies that are due to expire and need to go through the insurance renewal process. To offer an updated premium, it takes time to pull up loss run reports and to evaluate the information needed to make a decision on any adjustments that are required. Our detailed oriented insurance back office professionals will take everything into consideration to give your underwriter all the information that they need.
Flatworld Solutions professionals will take the renewal request from the policyholder and then do any follow up necessary to assist in the decision making on the new premium. This will make for an accurate and smooth running insurance renewal process for all involved.
Insurance Renewals Processing Services We Offer
We insurance renewals services include the following steps:
Keeping track of insurance renewals in advance
Creating insurance renewal reminders and summary reports
Taking renewal requests and interacting with the carriers for renewals
Ensuring that any policy adjustments are evaluated and taken into account for revising premium
Insurance Software we use
How Do We Process Insurance Renewals?
FWS receives the insurance policy renewal request from the policyholder and works on behalf of the insurance carrier to do all of the preparation work for the underwriter. We pull the loss run report and evaluate any new events in this report, and let the underwriter know right away.
This is a very important job, but can be tedious at times. We at Flatworld Solutions are experts in streamlining processes for insurance carriers, and ensure that everything is taken into account before the premium is revised by the underwriter.
We use the latest in insurance renewal software to be sure that every detail is considered in making insurance renewal processing simpler for the underwriters and insurance carriers. With over a decade of experience in helping insurance carriers with their specialized business needs, Flatworld Solutions is at the forefront of the insurance renewal processing.
Benefits of Outsourcing Renewals Processing to Flatworld
Flatworld Solutions offers major benefits to global insurance carriers. Our insurance renewal services will save your underwriters' time, which is a big money saver, as it will ensure that your renewals are done in a timely manner, guaranteeing the cash flow coming in regularly. In addition, our back-end work evaluates the need for premium revisions in conjunction with insurance policy revisions to be sure that everything works together and that the policyholder is quoted the correct amount the first time, every time.
Health insurance renewal is an essential part of any insurance carrier's business and Flatworld Solutions gives your underwriters the extra help they need to take care of the renewals in an efficient manner. Other benefits include:
Significant reduction in cost savings
Efficient operations performed by highly skilled and experienced insurance professionals
Faster TAT ( Turnaround can range from 30 minutes to 4 hours, depending on processes)
High scalability ensuring business growth
Improved customer service and increased customer satisfaction
Hire Us for Your Insurance Renewal Needs
Flatworld Solutions is dedicated to helping insurance carriers with their unique business needs. In over 20 cities worldwide, we are available around the clock to take care of your insurance renewals processing to help keep your cash flow up and make your underwriters more efficient. Let us help you.
Flatworld Solutions - Your primary solution for Insurance Renewal Processing!