- Policy Change
• Change without underwriting
• Changes with underwriting (addition of riders, increase/decrease
coverage, new products or changes in coverage)
• Policy renewals
CLAIMS
- Claims Intake and Registration
• Intake of data (fax, voice, web)
• Application set ups
• Level 1 eligibility, policy verification and coverage determination
• System claims set up, claim routing and assignment to adjusters
• Initial claims notification of loss
• Reserve allocation estimation
- Simple Claims Processing
• Claims review (inc coverage determination), review of adjusters reports
• Calculation of policy amounts, adjustment of reserve allocations
• Escalation of complex claims and payments disputes
- Claims Administration and Payment
• Check set up
• Claim payment
• Broker claim inquiries
ACCOUNTING
- Premium Accounting
• Cash applications
• Suspense account handling
• EFT set up and transfer
• Processing of payments
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Business Process Outsourcing the Perfect Solution for Your Business?
May 17th, 2010.
Business process outsourcing is one of the most popular and the most cost-efficient business solution that you can ever make. By contracting other companies to do a specific business task, you will be taking off extra work involved in your company and focus more on important aspects in running your business.
By outsourcing your company’s business process or some of your company’s business process, your company will be able to utilize its facilities to its maximum potential. Through business process outsourcing you will be able to cut some operational costs and at the same time, let your company focus more on important factors in running your own business..
Outsourcing’s Next Phase Has Begun
April 2010
Business Process Outsourcing has reached a near-term peak, and meaningful expansion from this point forward will result in higher costs and lower-quality delivery. Business leaders worldwide have been saying such things to one another for months now. Today, we are seeing deliberate action to move capacity from India to next-step destinations like the Philippines, China and Vietnam.
