New Business Servicing has become one of the cardinal performance drivers for insurers these days. In today's times, having a faster and intelligent underwriting process is turning to be essential for survival, as insurance companies look to cut down operational costs, ascertain long term profitability and ameliorate efficiencies across the product life cycle.
Following are the advantages of our approach:
- Significant reduction in organizational costs and time linked with acquiring and process new businesses.
- Elimination of human errors and requirement of manually replicating the captured info.
- Provision of coverage instantaneously at the Point of Sale.
- Increase in customer acquisition and satisfying them by reducing the turnaround time.
- Empowerment of underwriters when it comes processing cases at a much faster way
Insurance Support World's efficient Insurance Policy Management services cut down average handling time, costs incurred in training and chances of error at the time of upgrading service quality and revenues. If you outsource your Policy Management tasks to ISW, we can help you in offering your customers a better experience.
Following are the Policy Management Services Provided By ISW to its Clients:
- Management of Resources, Licensing.
- Creation of Quotes
- Exchange of data.
- Generating proposals.
- Verifying the insurance policies.
- Verifying the details mentioned on the quote, proposal and insurance plans.
- Seeking Loss Runs.
- Endorsing, Renewing, Cancelling, Reinstating and Rewriting an insurance policy.
- Considering policies that are to be cancelled.
- Viewing each and every operation performed on the insurance policy, also known as Policy Accounting History.
Outsourcing insurance claims administration services has turned into a means for developing an advantage for the insurers. With the amount of claims to be dealt with, increasing day by day, insurance claims administration companies such as Insurance Support World, have the ability to boost the productiveness of this task and bring value to insurance companies operations.
Advantages of Outsourcing Insurance Claims Processes to ISW:
- Insurance claims services at Insurance Support World are dealt by an expert team, which can cater to claims processing right away, hence shortening the settlement time.
- Outsourcing insurance claims process to ISW guarantees top quality and speedy TAT.
- We provide you reduction in operational and financial savings of up to 50%.
- Our claims processing is safe and confidential with extra care taken to look into fallacious disputable claims.
Internally, under-performing commission systems are sometimes a fiscal drain for insurance companies. Absence of functionality or tractability can inflate FTE expense, bring in manual workarounds into the procedure, and magnify error rates and cost. Overpayments can lead to heavy deprivations for every million dollars of commissions compensated. In addition to the undue cost of carrying off the function, there is an opportunity cost because of incapacity to sustain a corporate strategy or amend producer relations.
Insurance Support World’s solutions for Commissions and Compensation Management include:
- Application Maintenance and Enhancements to Commission Systems
- Commission Accounting
- Producer Commission Payable
Our technical excellence and insurance domain expertise has helped some of the leading insurers
in the world to optimize their Total cost of ownership immensely.
Who We Are
Insurance Support World is a leading global provider of insurance back-office outsourcing solutions. Our team comprises of skillful professionals who bring in deep business insight and extensive insurance domain expertise. Our technologies and insurance outsourcing services assist insurers overcome challenges like decreasing margins, intense competition.
What We Do
With more than 10 years of experience and over 100 satisfied clients, ISW focuses on extending a wide range of insurance value-added services to increase the efficiency of your business processes, cut down operational costs, and give you ample amount of time to concentrate on customer acquisition, retention and growth.
How We Do It
Insurance Support World delivers industry and functional solutions to insurers worldwide. We make the entire process of outsourcing work functions much easier for you. We will work closely with your team to understand your requirements and then provide you a proposal, which will comprise of our proposed insurance outsourcing solution, payment necessary T&C.