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. Outsourcing insurance services could be one of the best strategic solutions to achieve the required.
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
Focused on delivering reliable and continuous support solutions to fulfil and surpass expectations for you and your customers.
Carriers
Our scalable, experienced team provides specialized services for carriers, helping them obtain and maintain optimized operations and expenditure.
MGAs
Our best-in-class and timely underwriting support helps MGAs enhance broker relationships and provide exceptional service to customers.
Wholesalers
Cogneesol's vast domain expertise allows insurance wholesalers to concentrate more on expanding their reach to newer markets and products.
Retail Brokers
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
New Business and Underwriting Support
- 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 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
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.
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 Cogneesol?
Cogneesol enables insurance carriers, agencies, brokers, wholesalers, and MGAs to reinvent their operating models and business processes to turn agile, future-ready, and an engine of growth.
At Cogneesol, our foremost aim is 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 outsourcing 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 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.
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.
We had inherited legacy systems from a recent acquisition. Cogneesol helped us migrate our processes from the outdated systems to the ones used across the organization and streamlined them in a matter of months. Thanks to them, our processes are now lean and efficient, making our team many times more productive than previously.
We have been witnessing a rise in insurance claims owing to the COVID-19 global pandemic. To tackle it, Team Cogneesol has been adapting with us to changed ways of working with their reliable insurance back-office support, helping us in the timely handling of 100% of the claims. Despite the difficult times, we have been able to retain our customers’ trust. Much of the credit belongs to Cogneesol!
Cogneesol provided us customized insurance BPO services and helped us reduce our field inspection cycle by identifying processes that could be accomplished digitally by the claimant as well as the field officers. Additionally, their self-service app has brought down inspection costs significantly and has dramatically improved our claim servicing timelines. Thank you Cogneesol for making us so efficient!
