Do you want to tap the growing annuity insurance sector? Or, are you looking for a cost-effective annuity insurance service provider? If so, you must collaborate with Flatworld Solutions for all kinds of annuity administration services. Even if you are struggling to keep up with the back-office support functions related to the annuity insurance, we can help you manage your core business functions by supporting your day-to-day operation with our annuity insurance back-office services.
Flatworld Solutions is among the most sought-after annuity insurance service providing company with 19 years of service experience in the insurance domain. Our back-office annuities and retirement planning services will help you excel in the insurance market by optimizing your routine operations.
Annuity Insurance Back-office Services We Provide
By choosing FWS to outsource annuity insurance back-office services, you can avail any of the following solutions -
New Business Services
If underwriting lead times increase, then, the cost shoots up, which makes the underwriters rectify the discrepancies in the applications. For any new business opportunities, you must have a streamlined mechanism that could make the process of applications easier and without any redundancies. Under new business services, we can help you with the following -
- Registration of new applicant
- Inspection of the application
- Assignment of case
- Initiation of contract
- Adjudication and management of tasks
- Separation of accounts
- Processing of payments
Annuity Management Services
Fiscal drainage is one of the key challenges for an insurance company when their accounts do not perform well. As part of our annuity insurance back-office services, we provide annuity administration services to help you compensate for the lost accounts, streamline the workflow, etc. It includes support services for -
- Loan management
- Premium expiration, renewal, and recovery
- Policy surrender
- Nomination service
- Account report
- Transfer & reallocation of funds, etc.
24/7 Customer Support Service
With multiple delivery centers spread across the time zones, we work 24/7/365 days. Our insurance support agents can assist you with -
- Product information and quotation
- Repayment loan
- Conversion options
- Technical help desk
- Information about product quality complaints
- Rollover options
- Tax calculations
With our scalable annuity insurance support services, we can help you get rid of handling the accounting in-house. Our billing services include -
- Print and send invoices
- Electronic bill application
- Payment processing
- Accounting disputes resolution
- Asset management
- Debt management
- Guarantee fund management
- Asset value calculation
Claims Processing and Management
We are a global leader in providing high-quality claims processing and management under our annuity insurance back-office services. A few key areas where our insurance experts can help you with are -
- Case assignment
- Data entry
- Task management
- Claims adjudication
- Query resolution
- Payment/Billing Confirmation
- Track claim status
- Claim status call
- Estimation of claims eligibility
- Claims auditing
- Disbursement, and more
Agency Administration & Regulatory Coverage
By partnering up with FWS to outsource annuity insurance services, you can avail the following list of sub-services under our agency administration and regulatory coverage -
- Commission processing
- Commission system enhancement
- Commission accounting
- Customer support
- Agent and internal technical help desk
- Internal technical help desk
- Regulatory and legal conformity
- Legal services, etc.
Reference and Marketing Record Informatics
We can help you with -
- Business analytics
- Marketing and consumer data analytics
- High-volume reference data
- Accept/reject policy data
- Statistical research, programming, and analysis
Annuity Insurance Back-office Process We Follow
As a leading provider of annuity insurance support services, we have developed a proven support process to help you optimize your operations in an efficient manner. The most important steps are -
01. Business Requirement Analysis
Initially, we will work with you to determine your exact need for an annuity insurance support service
02. Team Setup and Plan Initiation
Our annuity insurance experts will develop tailored plans based on your existing workflow, build the right team and start working
03. Process Implementation
If there are any gap areas, we will rectify it and will start implementing the changes
04. Data Verification
Our quality control team will perform various quality checks to ensure data accuracy
05. File Transfer
At this point, our support staff will methodically process all data and send them via FTP or other encrypted channels
Software/Technologies We Use
Our annuity insurance team uses advanced software and technologies to ensure you get high-quality annuity insurance back-office services. Some of tools/software include -
Other Services You Can Benefit From
Why Outsource Annuity Insurance Back-office Services to Flatworld Solutions?
We provide annuity insurance back-office services for insurance firms of all sizes. If you choose us as your annuity insurance service provider, you will get the following benefits -
We offer modest pricing options starting at $8 per hour, tailored to your business needs and budget. When your project needs are extensive or complex, you can also hire full-time resources at a cost-effective rate.
ISO/IEC 27001:2022 Certified Organization
As one of the first annuity insurance service providing company to be accredited with ISO/IEC 27001:2022 certification, our processes are in line with ISMS standards. We can manage and handle all types of information security threats.
Short Turnaround Time
We have the right amalgamation of skilled support staff, state-of-the-art tools, and very competent leadership, which allows us to provide the quickest turnaround time in the insurance support domain.
High-quality Insurance Service
By collaborating with us for annuities and retirement planning services, you will get access to quality insurance professionals whom you can hire or onboard. This way, you will see a considerable reduction in the backlogs, operating costs, etc.
Option to Scale-up
In FWS, our annuity management services are extensible, thus you can ask us to scale up or down the services you need. There will be no extra or hidden costs.
Robust Data Management
We have implemented stringent data privacy and disaster recovery policies in our workplace. Therefore, you can rest assured that in no circumstance your company's information will be leaked or misused.
24/7/365 Days Customer Support Service
Our contact center support executives work 24/7/365 days. Thus, you can reach them with your specific requests or queries at a suitable time.
Single Point of Contact
We provide qualified professionals to work as your point of contact with whom you can resolve your queries and get project updates.
Client Success Stories
We provided Cost-effective Insurance back-office Support Services to a Major Insurance Agency
Read this case study to know how FWS's insurance experts managed the client's accounts, updated their database, and handled account receivables in an efficient manner.
Flatworld Solutions Provided Policy Checking Services for a US-based Insurance Service Provider
Flatworld Solutions helped in speeding up the process for a US client with policy checking services. The services were provided at cost-effective rates in quick TAT.
Outsource Annuity Insurance Back-office Services to Flatworld Solutions
At FWS, we provide annuity and retirement planning services and back-office insurance BPO services to insurance companies, brokers, private agents, carriers and wholesalers around the world. We can help you lay the foundation for effective change and growth by streamlining your day-to-day operations. Imagine us as your extension responsible for all regular and time-consuming tasks so that your internal team can focus on their core works.
With unparalleled experience, expertise and a range of advanced tools, we can be your true pension partner. Contact us to find out more about our services.