To maintain their competitive edge, more and more independent insurance agencies are outsourcing their back-office support requirements.
The insurance industry is being severely tested by a desolate economic environment and continual market downturn, forcing insurance carriers to radically change their cost structures. There is a steady rise in the number of insurance carriers promoting a "click and pick online" approach to selling insurance instead of sticking to traditional methods that relied more on interpersonal relationships and mutual trust. As a result, insurance agencies are now also facing a soft market and lesser margins. For an insurance agency to stay relevant, it must operate efficiently while automating as many processes as possible. However, even with the latest marketing strategies and real-time quoting tools, there are certain tasks that can be optimally executed only when outsourced to a professional insurance BPO - like us.
At Flatworld Solutions, we provide global insurance agencies with customized solutions that closely align with the agency's culture and specific business needs. Our insurance back-office experts have built a reputation for delivering value-added insurance services to our clients while reducing their operational costs and increasing cash flow.
Insurance Back-office Support
Insurance Back-office Services for Independent Agencies
We are a leading back-office support service provider for insurance agency - and our insurance BPO strategies can help you improve process efficiency. We can help you refocus on what you do best - generating income for your independent insurance agency. As an independent agency, you can benefit from the following services offered by us -
Our dedicated teams of insurance professionals work with multiple carriers to get insurance quotes and then prepare a summary according to the client proposal requirements. We also extract Carrier Financial Ratings for every quote summary.
Our end-to-end insurance claims administration services include back-office support for claim investigations, interpretation, and application of appropriate governing compliance standards and fraud prevention policy provisions.
Our insurance back-office experts ensure that the process involved in receiving and issuing a certificate of insurance is fast and accurate. This process is further strengthened by efficient third-party communication and processing of revised certificates after policy renewals.
Our robust document indexing and filing services allow fast access to properly segregated documents, as and when required. Documents are labeled and indexed as per the naming conventions requested by the client so that they can be easily searched and edited.
Our teams of professional insurance staff send loss run requests to previous insurance carriers and provide loss run data during policy renewals. Before preparing the claims report, our team analyzes the loss run data, sends it to the underwriters, and notifies them in the case of missing data.
All policy documents are reviewed for completeness and correctness, and any variance present is recorded. These variances are then reported to the insurance carriers and a request for a revised policy document is made. The final policy document, with no variance, is received and issued.
Our insurance billing experts ensure accurate and timely delivery of invoices to the respective carriers. They constantly follow up on the collection of payments and also ensure that the premium installments on a policy are set up as per customer requests.
We help you effectively plan and manage policy renewals by keeping track of renewals in advance and sending renewal reminders when necessary. We also help in receiving renewal requests and ensuring that any adjustments are taken into account before the renewal process commences.
We have extensive experience in providing robust insurance agency management services to clients across the world. Our services include insurance policy management services, new business services, insurance commission management, and insurance reporting.
To prevent fraudulent activities from affecting your business, we offer reliable insurance bookkeeping and forensic accounting services. We scrutinize accounting and insurance records and ensure there are no oversights in validation and documentation.
Our experts use QQCatalyst for operational, marketing, and sales pipeline management, helping agencies focus on growing their business while we ensure effective business management and strengthen their client relationships.
We offer high-quality insurance underwriting and administration strategy and services that are speedy and accurate. We have extensive experience in health insurance and life insurance underwriting and reinsurance.
Insurance Software We Use
Why Insurance Agencies Choose Flatworld Solutions
We understand that the key to laying a solid foundation for growth is the insurance agency’s ability to adapt and reuse critical assets while streamlining their business processes. With Flatworld Solutions, insurance agencies can be assured of fast, flexible, and high-quality solutions to their insurance BPO needs. Partnering with us also provides the following additional benefits -
Highly Trained Team
We have a team of well-trained personnel with vast experience in insurance processes. They can handle any kind of insurance request and ensure that you receive high-quality services.
Fast Turnaround Times
Our insurance back-office services for agencies have fast turnaround times. We also ensure 24/7 support for your insurance agency, insurance agents, and customers.
We have a skilled and resourceful team who ensure compliance with insurance norms. We have regular training sessions to maintain our insurance subject-matter expertise.
Our services help insurance agencies reduce overhead costs and increase productivity. With our help, insurance agencies no longer have to invest in maintaining an in-house team.
We assure the complete security of your data and privacy of your information. As an ISO-certified organization, we comply to the highest standards of information security.
Multiple Delivery Centers
We have multiple distribution channels that ensure faster turnaround times for deliverables. Our services are rendered from a delivery center that is convenient for our client.
We offer rewarding and consistent customer experience to reduce attrition. Our well-trained team will keep you updated on your insurance request or answer any queries.
Our services are flexible, scalable, and can be customized to the client’s requirements. We can scale up during peak requirements, and scale back during slow periods.
Additional Services You Can Benefit From
Our comprehensive services help insurance carriers gain an edge over their competitors with better business models and efficient operations in policy issuance, administration, and maintenance.
We offer back-office support to MGAs that helps them better understand market demands. We also provide insights that will help achieve better-quality results with a shorter turnaround time.
We provide consolidated back-office management services for insurance agencies, brokers, and carriers. Our services help boost productivity and efficiency.
We leverage data-driven marketing intelligence and a comprehensive strategy to generate viable leads for our clients, that can drive sales and help them scale up.
Client Success Stories
We Provided Back-Office Services to A Texas-Based Insurance Agency
Our skilled and experienced resources provided quick, efficient, and cost-effective insurance back-office services to a Texas-based insurance agency.
Flatworld Helped a Chicago-based Consulting Firm With COI Services
A leading Chicago-based brokerage consulting firm was looking for a partner who could help them with COI services. Our team delivered effective services to the client.
Outsource Insurance Agency Back-office Support Services
At Flatworld Solutions, we have set high standards for the quality of our work and business ethics. With a combination of high-end infrastructure, professional insurance agency back-office support services teams, and an extensive experience in the insurance field - we offer you significant benefits over our competitors -
- We stay updated on frequently evolving insurance regulatory regimes
- Our services help you overcome dwindling margins
- We offer real-time and easy-to-use information on policy and billing for agents as well as customers
- We offer alternatives to complex and difficult-to-maintain legacy applications