Underwriting Services
For insurers, underwriting and policy administration functions are crucial for business growth while securing it from unnecessary risks. The functions require top-notch skills in risk analysis, data crunching, and information review for an elaborate evaluation of available policies for suitable insurance coverage.
Considering that these require niche expertise and considerable time, our team of underwriting support and policy administration experts at Cogneesol specialize in optimizing underwriting functions with customized operating models that reduce costs, create capacity and add value.
With wide-ranging global experience, we offer the complete gamut of underwriting support and policy administration services including channel support, premium calculations, policy checks and validation, endorsements, renewals and quotes, reconciliations, billings, and even refunds.
"Cogneesol is literally our right arm in managing our underwriting and policy administration services!"
- North American P&C Insurers
Our Underwriting Support Services
- New Business
- Underwriting Support
- Channel Support
- Quotes
- Premium Calculations
- Sales / Quotes acceptance & Conversion
- Policy Issue
- Policy Checking including Verification / Validation
- Name / Owner / Address Changes
- Certificate Re-issue
- Lapses
- Adjustments / Endorsements / Rider & Coverage Changes
- Renewals and Quotes
- Cancellations
- Remittance exceptions
- Reconciliations
- Refunds
- Billing
- Premium Mode Change
- Bank Changes
- Premium Audits
- State Filing
Our Key Differentiators
Optimized Operating Models
Cogneesol’s underwriting and policy administration experts work toward optimizing the functions in a way that provides for efficient and productive sub-processes.
Niche Service Portfolio
We offer a range of niche services that include premium calculations, endorsements, renewals and quotes, reconciliations, billings, refunds.
Wide Global Experience
Cogneesol’s insurance vertical has been functioning since 2008. Through the years, we have had a strong global presence that gives us the experience to onboard a client and streamline its operations within the earliest timelines.
Swift Transition Methodology
Our transition period for all engagements is one of the lowest in the industry. Our project managers are subject matter experts who design swift knowledge transfer and business-as-usual.
Focussed Approach
One of Cogneesol’s biggest value propositions is our focussed approach to optimize client functions. We achieve this through our domain expertise, global experience, and our concerted investment in people skilling and technology.
Guaranteed Cost Efficiencies
At Cogneesol, we take pride in our ability to significantly reduce clients’ operating costs in a planned and phased manner, such that they are sustainable and long-term in nature.
Illustrative Product Lines We Service Across the Property and Casualty 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
Our Excellence in Underwriting Support Services
Cogneesol is a name to reckon with in the underwriting services market. We are known for our optimized operating model across complex product lines reducing costs and driving value, service quality, pricing, and ease with which insurance providers can work with us.
- Our underwriting support services help deliver cost arbitrage to the tune of 50-60%. We have been working with a number of clients across the regions, and have delivered quantifiable benefits, labor cost reduction, and process efficiencies for each of them.
- We guarantee a dedicated team of experts for our clients’ underwriting outsourced scope of work. This team ensures SLA and quality compliance at all times through the length of the engagement.
We are associated with Cogneesol for close to seven years now. They joined us when we were relatively new in the market. Their biggest plus is that they offer exceptional cover, pricing, and service. From being a small start-up to a mid-sized company now, Cogneesol has been like our partner and not a vendor.
Cogneesol functions like our extended team for our underwriting function. Their support has always been adequate and swift. In the last five years of our association, we have not had any complications. Neither have they ever failed on the agreed SLAs. This certainty of commitment and delivery makes our engagement with them super valuable.
The team that works for our underwriting and policy administration services has incredible knowledge and understanding of the space. Through the years, they have been an invaluable guide, helping us make the right decisions with their exhaustive and timely analysis. Cogneesol is an exceptionally important partner for us!
Our business relationship with Cogneesl dates back to 2010! The team is extremely professional in their delivery – be it pre-committed or for adhoc requests. Their understanding of the underwriting pre-requisites is unsurpassed. This gives us great comfort and assurance. Their excellent service quality reflects in our relationship with our policyholders.
The team at Cogneesol is professional and thorough. They have the experience and expertise to underwrite and provide tailor-made policies that are most suitable for our client requirements. Because of their expert services, we have been able to expand our base of policy-holders, and grow our business’s size and scale.
