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OUTSOURCING POLICY MANAGEMENT SERVICES
THE VERY FIRST QUESTION
WHAT ARE OUTSOURCING POLICY MANAGEMENT SERVICES?
Outsourcing Policy Management ---->
Outsourcing basically involves the process of transferring the responsibility of work to be performed to another individual or a company overseas directly or indirectly.
Similarly, Outsourcing Policy Management we can say the process of transferring the responsibility of Insurance Policy Administration to the outsourcing companies overseas who offer their expertise, innovative techniques & cost benefits for their outsource policy management service…
WHAT COVERS OUTSOURCING POLICY MANAGEMENT?
What Covers Outsourcing Policy Management?
History of Policy Accounting
Licensing and Resource
Management
Preparation of Quotes
Endorsement, Rewriting, Renewal, &
Reinstatement
Exchange of Data
Policies set for Cancellation
Requests for Loss Runs
Checking of Policies
Generation of Proposals
WHAT COMES UNDER HISTORY OF POLICY ACCOUNTING?
History of Policy Accounting
Collection of Old Data & Operations
WHAT COMES UNDER EXCHANGE OF DATA?
Exchange of Data
Sending and Receiving of Information/ Data via common channel
WHAT COMES UNDER LICENSING & RESOURCE MANAGEMENT?
Licensing & Resource Management
Managing Licenses & Insurance related Resources with Miscellaneous Firms.
WHAT COMES UNDER POLICIES SET FOR CANCELLATION?
Policies Set for Cancellation
Set of Policies under Cancellation – Relaxed, Moderate, Firm, Strict, No Refund
WHAT COMES UNDER PREPARATION OF QUOTES?
Preparation of Quotes
Assembling insurance data, Preparation of Quotes in Detail & Analyzing Case Studies
“ “
WHAT COMES UNDER REQUESTS FOR LOSS RUNS?
Requests for Loss Runs
Loss Runs Requests: A Letter of Authorization or history of Claims
WHAT COMES UNDER ENDORSEMENT, REWRITING RENEWAL &
REINSTATEMENT?
Endorsement, Rewriting, Renewal & Reinstatement
Offering Endorsements, Renewal, Rewriting & Reinstatement
WHAT COMES UNDER CHECKING OF POLICIES?
Checking of Policies
Check-in Policy Requirements, Number of Policies, Facts Checking, Resolving
Policies Under Process
WHAT COMES UNDER GENERATION OF PROPOSALS?
Generation of Proposals
Creating Business Plan as per Clients Needs, Entrepreneur Goals & Business Model
BENEFITS OF OUTSOURCING POLICY MANAGEMENT SERVICES
Benefits- Outsourcing Policy Management Services
Cost Saving
Focus on Core Business & Customers
Reduced Overhead Charges
Manage the Workforce
Increased Productivity
Develop New Competencies &
Skillset
Enhanced Job Acceleration
Reduced Time to Market
HOW TO SEARCH OUTSOURCING POLICY MANAGEMENT COMPANIES?
How To Search Outsourcing Policy Management Company?
Search On Internet with Keyword
Open first 5-6 Websites
Check Professionalism of their websites
Check their Reviews, Portfolio & Case Studies
Check their Social Presence
Contact them and Ask for their Plans
Note: No Good Companies will offer you the very cheap plans. So, Be Careful…
COGNEESOL PVT. LTD. – OUTSOURCING POLICY MANAGEMENT COMPANY
COGNEESOL PVT. LTD. ---OUTSOURCING POLICY MANAGEMENT SERVICES
Offers a wide range of insurance classes through an extensive policy management services. We help customers save time and through the delivery of B2B Solutions by serving the global market for several years.
You just need to give us a call on +1 646 688 2821.
Address: 12648 Agave Bay St Victorville, CA 92392, USA
E-Mail: info@cogneesol.com
REFERENCES
What Covers Outsourcing Policy Management?
https://www.cogneesol.com/insurance-services
http://www.insurancesupportworld.com/
http://www.slideshare.net/cogneesolbpo/insurance-back-office-services-pros-and-cons
https://www.cogneesol.com/blog/warning-you-might-be-losing-money-by-not-outsourcing
-policy-management-services/
**********THANK YOU*********
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