Insurance Outsourcing Services
Insurance outsourcing has become an imperative for insurance carriers in today’s times amidst rapid market changes, and uncertainties. The increased pace of technical and digital evolution, coupled with lifestyle transformation amongst different age groups of people are proving to be major drivers for the insurance industry to evolve in accordance with new-age priorities. Their endeavor to diversify offerings and increase customer acquisition will hold good only when their core processes are strong and agile.
Cogneesol, a leader in insurance outsourcing services since the last fourteen years, have been helping insurance carriers, wholesalers, MGAs and brokers streamline streamline their operations for efficiencies and productivity. Considering the new-world imperatives, we have further upscaled and upskilled our capabilities to help our insurance clients reimagine their business models, prioritize customer-centricity, drive innovation and future-readiness.
Our insurance offerings cover the complete gamut of outsourced tasks to trigger your growth.
Along with all insurance outsourcing services, Cogneesol has also helped us optimize our business model thereby bringing greater profitability.
- An Insurance Agency, New York, NY
Who We Serve
Focused on delivering reliable and continuous support solutions to fulfil and surpass expectations for you and your customers.
Carriers
Helping insurance carriers fight back business uncertainties with thorough, optimization-focussed, and customer-centric outsourcing services.
MGAs
Powering your customer-outreach strategies with our end-to-end insurance services that are continuously revised for changing times.
Wholesalers
Facilitating you to stay proactive and to manage customer expectations with our industry-ranked insurance outsourcing services.
Brokers
Enabling you to succeed and excel in an uncertain market with evolutionary insurance outsourcing services.
Our Insurance BPO Services
New Business and Underwriting Support
- Channel Support
- Quotes
- Premium Calculations
- Sales / Quotes acceptance & Conversion
- Actuarial Support
- Exposure Assessment
- Underwriting Support
- Verification / Validation
- Fulfilment
- Premium Calculation
- Follow up
- Policy Issue
- New Business Rating
Policy Administration
- Policy Changes
- Certificate Issuance and Re-issue
- Adjustments / Endorsements / Rider & Coverage Changes
- Lapses
- Renewals and Quotes
- Cancellations
- Remittance
- Reconciliations
- Refunds
- Billing
- Premium Mode Change
- Bank Changes
- Premium Audits
Claims Management
- Claim Set-up
- Investigation / examination
- Review & assessment
- Reserving
- Supplier Support
- Excess / Deductible Management
- Settlements
- 3rd Party Claims
- Bodily Injury claims
- Recoveries & Subrogation
- Fraud Checks
- Claim Finalization
- Closed Claim audit
- 3rd Party Payments
- Debt management
Legal Support
- Contracting Services
- Regulatory Research
- Compliance Support
- Counsel Support
- Paralegal Support
- Document Management
- Case Management
- Corporate Filings
- State Filings
- Subpoenas
- State Filings
- Medical Record Summarization
- Subrogation
- Analytics
Insurance Accounting
- Bookkeeping
- Investment Accounting
- Payroll Services
- Reconciliation Services
- Statutory and State Reporting and Filings
- Financial Reporting
- Management Reporting
- Group Reporting
- Accounts Payable
- Accounts Receivables
- Financial Planning and Analysis
- Reporting
Sales and Marketing
- Campaign Management
- Segmentation
- Customer Acquisition
- Retention
- Cross selling and Up Selling
- Agency Compensation
- Channel Analytics
Underwriting
- Pricing Analytics
- Broker Analytics
- Agency Analytics
- Lead Scoring
- Geospatial
- Predictive Risk Scoring
- Conversion Analytics
- Credit Control Optimisation
- Renewal Propensity Analysis
- Retention Rate Analysis
- ROI Trend
Claims
- Fraud Management
- Expense Management
- Supply Chain Analytics
- Subrogation
- Reserving
- Claims Predictive Modelling
Pricing
- Loss Modelling
- Competitor Analysis
- Pricing Analytics
Operations
- Resource Planning
- Staff Optimisation
- Forecasting
- KPI Analytics
BI and Visualisation
- Data Governance Strategy
- Development
- Self Service Reporting Services
- SQL Server Integration Services ( SSIS)
- SQL Server Analysis Services (SSAS)
- ETL (OLAP & OLTP)
- Insight Generation
- CXO Reporting Services
- Reporting Rationalisation
- Root Cause Analysis
- Plan/actual Comparison
Every Business is Unique. Find Out How We Can Help Yours.
Contact UsCogneesol is positioned as a Major Contender in the Everest Group P&C Insurance BPS PEAK Matrix Assessment Report 2022
Everest Group P&C Insurance BPS PEAK Matrix® Assessment Report 2022 – Focus on Cogneesol
Our Key Differentiators
Agile Operating Models
Our insurance outsourcing services streamline client’s operating models by erasing redundancies and by building resilience and agility.
Global Exposure
With clients spread across numerous geographic zones, Cogneesol’s exposure to operating standards and procedures give our insurance services a competitive edge.
Industry-best Benchmarking
Our more than a decade’s experience of serving insurance clients has enabled us to create best-in-class benchmarking standards that redefine client processes.
Pricing Flexibility
Our outsourcing pricing models are the best in the industry, allowing insurers across, size and requirement, to engage on industry best commercial terms.
Partnership Approach
Cogneesol’s outsourcing services are marked by swift transition and business-as-usual state, continuous learning and training, reflecting partnership-like commitment.
Product Lines We Serve Across the P&C Value Chain
Motor/Auto
Liquor Liability
Logistics
Marine
Umbrella
Trucking
Surplus Lines
Aviation
Worker's Compensation
Director and Office
Error and Omission
Commercial Property
Homeowners and Belongings
Professional & General Liability
Why Choose Us?
Our insurance outsourcing services are designed to meet your strategic requirements, and help achieve your business outcomes by not only addressing your current concerns, but by also securing your processes against future uncertainties.
Serving insurance clients spread across the globe since 2009, Cogneesol has made a veritable name for itself in the world of insurance outsourcing solutions. Our recognition as a Major Contender in Everest Group’s P&C Insurance BPS PEAK Matrix ® Assessment Report 2022 is testimony to our delivery excellence and client-centricity.
We have created strong confidence in our wide-ranging insurance services that help clients tackle business disruptions, and enable them to enhance their competitive positioning. We achieve this with the help of our resource pool of highly qualified and experts of insurance domain professionals, our adoption of new-age technologies, our world-class infrastructure and connectivity networks.
Choose from our wide-ranging core and non-core insurance solutions to give your organization the power of innovation and optimization.
Our Resources
We help our clients navigate from where they are to where they aspire to be through our always-on learning agenda in the form of client stories and blogs highlighting latest industry trends.
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.
Initially, we had been undecided over outsourcing our insurance back-office processes fearing mishandling, but Cogneesol ensured that our fears were misplaced. Their team of insurance experts with excellent process and domain understanding swiftly transitioned processes, streamlined flows, and redefined structures. These have helped us offer better solutions to our customers, resulting in increased customer satisfaction and sales of policies. Our relationship with Cogneesol has been extremely satisfactory. They are true partners committed to your success.
With business expansion arose the need for outsourcing our insurance operations to a trusted vendor which could not only reduce time spent on non-core activities, but also assist in drawing up structured operating models that would be scalable and resilient through market changes. We found such a vendor in Cogneesol – their insurance team provide all these outsourcing value propositions on a consistent basis. They have been instrumental in putting our house in order, and in making our processes lean, efficient, and ready for further expansion.
Cogneesol’s insurance outsourcing team has helped our company in improving the quality and speed of processing claims. They did this by meticulously changing our operating models across subprocesses, doing away with non-value add activities, automating basic operations, and drawing up exhaustive SoPs. These have resulted in minimizing costs significantly in addition to alleviating customer experience. We have come to depend on their outsourcing services for a couple of our other divisions as well. Such has been their effect on our organizations!
