INSURANCE POLICY MANAGEMENT SERVICE
The challenges that insurers face include finding unique ways to retain brokers and customers; taking advantage, in an agile market, of new distribution challenges; and not increasing premiums while reducing costs. Many carriers find it difficult to create and distribute new offerings, benefit from new distribution and communication channels and manage costs because of the legacy IT systems that they have. Their bottom lines and top lines are both affected on account of that.
SOS's services covers a broad range of insurance divisions through the comprehensive insurance policy administration services that we provide.
We help customers save money and time through the delivery of end-to-end solutions that are quite simple because we have gained expertise and experience by serving the global market for several years.
You can concentrate on creating value for your organization through tasks such as pricing, management, actuarial activity, underwriting and strategy, while we establish a solid platform and remove the processing burden for you.
An Overview of Our Insurance Policy Management Services:
- History of policy accounting - see all the operations carried out on the policy
- Policy issuance services
- Licensing and resource management
- See policies set for cancellation
- Preparation of quotes
- Endorsement, rewriting, renewal, reinstatement and cancellation of insurance policies
- Exchange of data
- Requests for loss runs
- Checking of policies
- Generation of proposals
Value for Business:
- Launch of new products in the market through a reduced life cycle
- Easily configurable policy management system that is future proof
- Easy understanding of evolving customer needs through a decision support system that is effective
- Flexible and scalable apps for future requirements
- Lowered cost of maintenance and more asset utilization for increased efficiency of operations
- Utilization of our global experience for better IT-business alignment