Outsource Function -
Policy Administration

The Client:

One of the largest and fastest-growing commercial insurance agencies in the USA.

Scope of Work

Complete support with:

  • Policy issuance
  • Endorsements processing
  • Claims management
  • Renewals management
The Client:

Client Requirement

The client was looking for a robust, scalable, and cost-effective back-office partner firm, which could drive a comprehensive repository for its complete range of services from setting up the insured to related policy management services covering the issuance of policies, processing of endorsements, claims, and renewals management.

Cogneesol’s Optimization Solution

Taking a structured approach to setting up the client’s policy services operations, we studied the entire lifecycle of new and renewal account creation vis-à-vis a complete analysis of coverage.

  • A one-pager summary document was introduced for every customer account to capture key policy details. This saved going back to 100+ pages of policy documents for information required for account set-up and also minimized errors.
  • A one-pager summary document was introduced for every customer account to capture key policy details. This saved going back to 100+ pages of policy documents for information required for account set-up and also minimized errors.

Within a year of operations, we were doing almost 50% more business. That was incredible! The team put us on the strong ground right from the very start; we simply took off from there!

Impact Delivered

Setting up Offshore End-to-end Policy Management Services with 99.95% Service Quality and Accuracy and Delivering 42% Productivity Increase.

Our steady and structured approach to setting up the policy management services reduced account creation time and brought in high productivity and efficiencies, and drove agility to the operations:

  • Productivity increased by 50%
  • Service quality and accuracy touched 99.95% for even the most stringent and quality-sensitive tasks called ‘bound business’
  • The capacity increase led to overall cost reduction by enabling existing onshore resources to drive more business. The customer base grew from 3500 accounts to 5000 plus within one fiscal

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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