Outsource Function -
Policy Admin Services

The Client:

A US-based multi-line insurance agency.

Scope of Work

Proposal creation, policy checking, onboarding policy on centralized database software.

Process Bottlenecks

With business growth and product portfolio expansion, the client, a leading commercial and personal lines insurance agency, was facing issues with its policy checking process vis-à-vis committed proposal, updating the agency management system and related back-office tasks. These, in turn, led to low customer satisfaction levels, on one hand, and high cost of operations on the other, adversely affecting both goodwill and profit margins, respectively.

Cogneesol’s Optimization Solution

With our extensive existing experience in managing insurance operations in the US, our specialized team set out for deep analysis and diagnosis of the client’s processes and systems. Their detailed due diligence led to the redesigning of operating models to streamline processes and bring in efficiencies.

  • Customized policy checking checklists were created to cover intrinsic hazards, location, risk coverage, and geographical settings. The team further enhanced the process with a document reading software that ensured the policy accuracy
  • Creation of central databases linked with the core system leading to real-time risk scoring

The team at Cogneesol completely turned around our policy checking process with a well-defined structure and quality controls. Our time and cost to the process have reduced in a big way. These have given us much muscle to expand the business line.

Impact Delivered

Redesigning operating models and technology interventions helps increase productivity and efficiency and reduces the cost of operations by more than 48%.

Cogneesol’s deep commitment of value and meaningful relationships to our clients have been our biggest strengths. These values helped us surpass the insurer’s goals in every sphere.

Other Client Stories

Client Testimonials

It is always a pleasure to learn that the work we do has positively impacted our clients and that they are happy to share their experiences.

Get in Touch With Us

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