Outsource Function -
Policy Management

The Client:

A US-based commercial and personal insurance agency.

Scope of Work

Complete Support With:

  • Reinstatements
  • Cancellations
  • Endorsements
  • Policy checking and uploading
  • Claims updates
The Client:

Process Bottlenecks

The client required a third-party insurance solutions provider to manage their day-to-day endorsement requests and free up management and employee time to focus on their core business of sales and servicing insurance coverages.

Cogneesol’s Optimization Solution

As an insurance solutions provider since 2008, our team comprised specialists conversant with processes across product lines and geographies. With strong support from the client team, our team was able to identify key lags in processes. They proposed the elimination of non-vale add steps and redesigned a lean operating structure based on strong domain knowledge and experience.

These were some of our concrete steps that saved time and reduced average handling time on processing endorsements:

  • Saved quotes on the carrier’s websites for premium approval by the end customer. Upon receipt of confirmation, endorsements were processed
  • Prepared ready-to-use templates to ensure that endorsements based on related coverages are readily transmitted by just amending the unique customer details

We have been a high-performing organization. Cogneesol joined in to give us more muscle power – they removed the lags, making us lean and strong for future business intake. They are truly our strategic partners.

Impact Delivered

Cogneesol’s aim was to not only bring in efficiencies and a lean methodology but also infuse agility and resilience into the processes so that they could address future business imperatives. At the operational level, our team:

  • Significantly increased daily endorsement processing and reduced overall life cycle time from 16 hours to 8 hours resulting in greatly elevated customer satisfaction levels
  • Added substantial value by generating additional business through increased volumes per year -- from around 3000 endorsements to more than 4500

At the corporate level, our initiative impacted the business unit's bottom line.

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

Find out more about how Cogneesol can help you transform your business. Let us know your key areas of interest so we can serve you better.
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