Insurance Outsourcing Services
Undoubtedly, in today's times the insurance industry is being gravely tested. The disturbance in the economic environment, combined with the market downturn, has challenged insurance providers with a change that is drastic and intense. Established business frameworks are under strain, and carriers are being forced to basically alter their cost structures.
On one hand, the unpredictability and softening demand pose a challenge for several insurance underwriters, while on the other hand, for high performing companies, they extend an outstanding opportunity to pull away from the competition to optimize their operating model, largely cut down their costs, and magnify their market share using meaningful differentiation.
Cogneesol has an unparalleled combination of experience, proficiency and the technology required to help insurance outsourcing services deliver and to build a foundation not merely for effectual change, but for prolonged high performance.
Insurers are looking for methods to produce an optimized environment. To attain an optimized operating environment, they must get hold of following six key capabilities:
- An amenable and simple yet elaborate processing platform
- A revitalized and demanding culture where workers have the tools, data and motivation to do their jobs efficaciously
- A multi-sourcing solution that corresponds to best acquisitions with best prices
- The skills to create steady, differentiated customer experiences at the right cost
- The coalition of procedures with key performance indicators that emphasize on business outcomes
- Straight-through processing at scale that represses manual involvement and guarantees that the tasks are accomplished
Leading insurance companies or agents are acquiring these capabilities by modifying their businesses. One of the means by which a lot of them are ameliorating their operational environment is through business process outsourcing. This enables them to enhance, standardize and automate their procedures, accomplish savings via strategical sourcing, and power up their strength by freeing their executives to target on more strategic, value-added areas of their business.
Cogneesol is reckoned by a lot of industry analysts, third-party consultants and insurance firms themselves as one of the leading insurance BPO providers worldwide. Our track record of adding to high performance, helping shrink costs, improve services, and heighten flexibility through process optimization is a testimony to an offering which works.
We have the testified capacity to take control of an insurer's non-core processes and, in a few months, be completely operational with cost reductions of between 25 and 55 percent. We can accomplish that by virtue of our vast insurance domain expertise, our full-fledged software assets, and our refined transition and functioning methodologies.
Cogneesol's insurance outsourcing services are distinguished by the comprehensiveness of our solution, the key constituents of which are:
Our Apprehension and Experience of Insurance and BPO Work:
For the past 6 years, we have operated closely with several world's leading insurance vendors. We serve about 300 clients in some 9 different industries. Particularly in insurance, we have close to 50 specialists helping a multitude of insurers globally in achieving high performance through outsourcing.
Our Methods and Services:
Our Insurance Outsourcing Services extends a holistic perspective towards process improvement and groundwork for sustained high performance. These comprise of:
- Administrative services to new businesses, policy services and claims
- A straightforward and better operating environment
- Straight-through policy processing via standardization and automation
- Industry-proven protocols and the use of latest technology