Insurance BPO Services
Worldwide, the insurance sector has been under constant evolution owing to changing customer demands, digital advancements, regulatory changes, agile competitors, and innovative business models. Insurance carriers, agencies, brokers, wholesalers, and MGAs across product lines need customization and time-to-market optimization to maximize organizational value. Insurance BPO services is an effective strategic solution to achieve your business goals and stay ahead in the competitive market.
With an experience of over 15 years, Cogneesol delivers a variety of insurance BPO services to clients, helping them tackle business disruptions and enhance their competitive positioning. Leveraging our domain expertise and application of technology, data, and analytics, we offer industry-defining insurance BPO solutions.
Our insurance BPO services reflect our determination and ambition toward optimizing clients’ business processes, which make us a credible partner that can bring operational efficiencies of up to 45-65% cost reductions, along with freeing time for the core business.
"Cogneesol reviewed our processes, changed operating models bringing about significant cost reduction."
- An Insurance Agency, Wollongong, Australia
Who We Serve
Our scalable, experienced team provides specialized services for carriers, helping them obtain and maintain optimized operations and expenditure.
Our best-in-class and timely underwriting support helps MGAs enhance broker relationships and provide exceptional service to customers.
Cogneesol's vast domain expertise allows insurance wholesalers to concentrate more on expanding their reach to newer markets and products.
Our specialized and expert customer acquisition and retention solutions enable insurance brokers to increase their top line and profitability, thereby triggering growth.
Our Insurance BPO Services
- Channel Support
- Quotes
- Premium Calculations
- Sales / Quotes acceptance & Conversion
- Actuarial Support
- Exposure Assessment
- Underwriting Support
- Verification / Validation
- Fulfilment
- Follow up
- Policy Issue
- New Business Rating
- 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
- 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
- Contracting Services
- Regulatory Research
- Compliance Support
- Managed Document Review
- Cyber Security
- Paralegal Support
- Case Management
- Medical Record Summarization
- Subrogation
- Deposition summary
- 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
Insurance Analytics
- Distribution Analytics
- Marketing Analytics
- Underwriting Analytics
- Product Performance
- Claims Analytics Reserving
- CAT Modelling Pricing
- 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
Our Key Differentiators
Vast Industry Expertise
Our team of trained and experienced insurance professionals are experts at streamlining processes and expanding business reach.
Flexible Pricing Models
Our pricing models are flexible in every way - from scope, rates to scale. We customize insurance outsourcing solutions to suit your needs.
Support Multiple Software
The in-house team of Cogneesol can efficiently handle your insurance back-office tasks using a vast range of industry-recognized software/CRM.
Agile Team
Cogneesol’s insurance business process management team are agile, defining, building, testing, and implementing evolving requirements of clients within a short span of time.
State-of-the-art Framework
Get to experience constant innovation, the highest-possible productivity, and the ideal customer support when you outsource insurance services.
Reduced Customer Attrition
Through seamless customer experiences and continuous services, our insurance team guarantees you reduced client attrition.
A Dedicated Team
We assign our clients a dedicated team, trained to their standards, focused on their business goals and constantly improving their operations and workflows.
Reduced Time-to-Market
Leveraging Cogneesol's insurance BPO services, your business can considerably bring down time-to-market for new products.
Case Studies
Why Cogneesol?
At Cogneesol, our insurance BPO services aims to streamline clients’ business functions to bring overall efficiency and agility. We do this by identifying and eliminating non-value-added activities, simplifying processes, enabling a restructuring of operating models, making them lean and responsive to changes.
With a wide gamut of insurance BPO solutions (be it claims, premium, policy, commissions management, or broker relationships, market strategies for new products), we cater to insurance players across product and service lines, including carriers, agencies, brokers, wholesalers, MGAs.
Our technology and digital interventions pre-empt market needs and guide the development of bespoke insurance business process outsourcing solutions for core insurance functions on the one hand; and on the other, make non-core processes such as accounting, digital marketing, customer services smarter and more intelligent.
Cogneesol, therefore, is a one-stop, under-one-roof insurance BPM service provider of all your back-office and administrative requirements. Our teams work in direct sync with your in-house teams, forming an extension of your business.
