Insurance Policy Administration
Outsourcing Insurance Policy Administration to Insuserve-1 has given evidence to many Insurance Agency Management and Brokers firms as cost cutting substitute without any compromise on Quality and Delivery. One of Insurance Agency management company Director of Operations have shared that recently that they are facing new challenges with unnecessary paperwork, massive Backlogs, slow-moving Workflows and ignored applications are few of the Operational concerns.
Such concerns results in poor and incompetent Customer Service and significant costs to handle the process and systems. With that said, now these kinds of concerns can be easily managed by Outsourcing to Insuserve-1 which handles Insurance Policy Administration services.
As per economist’s information servicing each Insurance policy costs USD 250 to USD 300 per year. While we multiply that by number of policies serviced per year are likely to be in Millions and the numbers are to be very significant. If the Insurance Policy Administration Services are outsourced, these costs can be extensively dropped to 60 % which is a huge savings for the Insurers. It’s no shock that Outsourcing Insurance Policy Administration and Outsourcing Insurance Claims Administration are two processes that are outsourced by Insurers.
With that said not only cost reduction the only reason to think Outsourcing Insurance Policy Administration to Insuserve-1 but the management have to certify that the customer service does not bear the Bargain.
Our experience with Insuserve-1 has signified that by Outsourcing Insurance Policy Administration has redefined the Service Level Agreements and assured turnaround times can improve the Customer Service. Our practice in delivering Insurance Policy Administration is one of the best in the Insurance Outsourcing Industry and most of our clients have seen the quality of process has been improved significantly with error free work and great turnaround time with better customer service. Our outsourcing programs are exclusively designed for the Insurance Industry which
- Enhance the Customer Satisfaction to higher percentage.
- Improve the turnaround time and reduce the errors by 60 percent which results in lesser costumer complaints.
As Outsourcing Insurance policy administration improves the quality and customer care which offers the Insurance Carriers, Retail Brokers and Agency Management firms to concentrate more on crucial aspects of the business such as Risk Management and Product Profitability.