A US-based multi-line insurance agency.
Complete Support With:
Account creation under EPIC (central software repository)
Time-consuming analysis of coverage during account creation resulted in severe operation lags and high costs. The client approached Cogneesol to affect both time and cost efficiencies in their account creation operations.
Cogneesol’s team proactively mapped the as-is account creation process of the client to identify steps that were time-consuming and causing inefficiencies. Our deep dive revealed that in a 50+ pages pdf document, bound coverage, instead of being in a sequence, was spread all over the document. Compounded by the validation required on contents of the bound proposal to the quotation, the time requirement of individual accounts went up significantly.
We designed an efficient alternative to the process:
Enabling a US-based specialty insurance agency to enhance customer servicing and increase business spread through 66% productivity gains and 33% capacity creation.
The client’s account creation process underwent an immediate turnaround with the introduction of the rule book and the summary template.
Cogneesol has been our insurance back-office solution partner for over a decade. They handle numerous processes including that of commission management. Our growth into new markets can be categorically attributed to Cogneesol’s support with the key functions. Thanks to their efficient and effective handling, we have a strong foundation!
Our customer service statistics have improved drastically from the time Cogneesol took over the complete policy management function of our agency. There are no more delays and unnecessary time lags. Customers get their documents and policy processed within agreed timelines without any hassle. This has given us a tremendous goodwill.
Cogneesol brought in huge savings by streamlining our policy management function and driving productivity. We are now using the example set in other functions as well. As a leaner and lighter organization, we have become nimble-footed and now have the freedom to expand our business and product lines. Cogneesol, Thank You!
Policy management process would devour our quality time. We needed a good service provider who not only understood the insurance domain but also had the resources to help a growing business. Cogneesol turned out to be the perfect partner – they handle our end-to-end policy operations, give us performance reports every month end and have given us the bandwidth to take on strategy matters.
The team that has been handling our policy management services are experts at U.S insurance regulations and statutory requirements. Their DD and transition timelines are short. This helped us in quick onboarding and swift application of transformative solutions in required areas. The team brought us increased productivity within a very short period.