New Business Services
Costs often go out of control for carriers due to inordinately long lead times for underwriting. Because of that, underwriters are busy with correcting discrepancies in submitted applications rather than getting new business quickly on the books. They spend valuable time in recollecting data from applicants or agents.
Cogneesol helps its clients improve their new business operations, through a distinctive approach for underwriting and new business, based on our commitment to excellence in processes. We assist companies with solutions for business processes including services for underwriting support, the gathering of requirements, policy management, data entry, and indexing and imaging of applications.
"Cogneesol’s back-office solutions gave us a head start that define our success now!"
- An Insurance Agency, Bristol, England
Our Services for New Businesses
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
Our Key Differentiators
Experienced Team
The team of Cogneesol has the right experience and skills in place to provide you with top-notch underwriting and other back-office services.
Cost-Effective
Having an in-house back-office team for your new business can prove to be costly; outsourcing gives you a higher work output at the minimum price.
High Accuracy
We assure you of 100% accuracy in our data entry, verification, and other services as we truly understand what a single mistake can cost a new business.
Time-Saving
By outsourcing your back-office tasks of new insurance business, you not only get to save on costs alone but on time and infrastructure as well.
Business Growth
When you will be able to save on costs and time, you can utilize the same for devising strategies for business growth, scalability, and customer service.
Round-The-Clock Support
Our support team is available round-the-clock for you, looking into and addressing your queries related to your projects and our new business insurance outsourcing services.
Who We Serve
Car / Business Auto
Property & Casualty
General Liability
Inland Marine
D&O (Director & Office)
Liquor Liability
Professional / Personal Liability
Sexual abuse Liability
Umbrella
Package
Employee Benefit
Workers Compensation
Our Promise in New Business Services
We promise to provide robust and dynamic strategies to help you boost your new insurance business and obtain desired outcomes.
We will do the groundwork for senior underwriters to focus only on cases that need their expertise. We will help streamline the whole process of application, remove redundancies, and provide quicker approvals of applications. When we provide our back-office services to new businesses, we have the sole aim of making them not only stand but succeed in the highly competitive insurance industry.
We do not measure our success in terms of profits but the success which our clients achieve through our collaborative efforts.
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.
When we started off with our property insurance business unit, we assigned Cogneesol to undertake its back-office operations including data entry services, policy checking, verification processes etc. This turned out to be a wise decision since the team provided us with all the backend support even as we concentrated in establishing the business. Thank you Cogneesol!
Cogneesol’s team are experts at every software and systems. They have been optimizing our data-entry system by working on all its features. This has ensured 100% automation of the application process. It helps when a new business gets such expert support. Our process efficiencies are drawing in more customers.
Team Cogneesol has been working on our U.S. operations for good many years. When we decided to step into the U.K. market, they were our front bearers in the new market strategy. They established the application and policy issuance procedures and helped us gain entry into the market that already had huge players. Thank you, Team!
Get in Touch With Us
We look forward to building long-term relationships with our clients through our customized insurance solutions that will make processes agile and cost-efficient. Have specific questions, or want a guided tour of our services? Get in touch with us!
