Insurance policies consist of crucial information like declarations, definitions, coverages, exclusions, conditions and a lot more. Making sure that each and every detail is accurate is often an exceedingly cumbersome and time-consuming task. We at Cogneesol have over 9 years of experience in assisting insurance carriers/wholesalers in streamlining and standardizing their policy issuance processes. Our determination to strengthen the underwriting process has enabled our clients to issue clean and unambiguous insurance policies and augment their credibility as an exceptionally professional insurance company. We have helped our clients issue thousands of insurance policies every year. Our policy issuance services are managed by a team of skilled insurance professionals with vast industry exposure in particular areas like property, casualty, individual, life, healthcare, accident, workers compensation and so on.
Our expert know-how will be of assistance to add an extra level of quality check to determine risk certainty levels as well as other aspects that could impact your profits. From minor modifications in policy issuance to the major ones that trigger changes in the premium, we are going to work hand-in-hand with your underwriters, thereby, making sure that your customer is looked after and that your company’s interests are in safe hands. Cogneesol as your outsourcing partner can help with lowering of the overall overheads by making sure that the policy is complete with regards to the data inputted and detailing associated. Customer details are diligently verified and checked for accuracy in order to issue an all-inclusive insurance policy.
Reviewing all the insurance policy paperwork and validating the details
Informing the underwriters regarding the details that are missing or are inaccurate
Verification of the customer details and additional information mentioned in the policy
Entering the data to create policy setup document
Arranging, listing and organizing digitalized pages in software program based on the work queue
Generating the final insurance policy depending on inputs from the underwriter
Cogneesol has a well-structured issuance procedure intended to assist insurance carriers in fulfilling the twin purpose of strengthening their relation with insurance brokers as well as enhancing the experience of the policy holders. We assist you to transform the entire underwriting process, gather rich data and generate more refined insurance policies.Start your free trial
Our policy issuance process adheres to the complete cycle of generating a comprehensive insurance policy document i.e. from reviewing the documents presented by the customers, to making sure that they are entered the right way, to producing the final policy. We team up with the insurance carrier's underwriter to make sure that all submitted details are complete and true. Our specialized competence and eye for detail will ascertain that the issued policy is free from errors, which is then sent to your underwriter so they can forward it to your agents, to hand-over to the insured.
With the help of our staff, client underwriters are noticeably less occupied with the issuance process, so as to pay attention to their primary underwriting tasks. Our team plays a crucial role in streamlining and standardizing documentation as well as reporting, and make use of advanced database tools and programs to automate issuance functions, contributing to reduced turnaround times. Our insurance policy issuance team has worked with several small and mid-sized insurance carriers/wholesalers, spread across countries like the US, UK, Australia, New Zealand, Singapore, Dubai etc.