Certificate of Insurance Services

Our COI service is designed to remove all complexities from the process of issuing and processing insurances

Insurance Back Office Pro has over 10 years of experience in providing certificate of insurance services to global clients. Our bouquet of services is specifically designed to help clients make the process of issuing and processing insurances uncomplicated, giving them enough time to refocus their attention of core business activities. Therefore, you can consider outsourcing your requirements to us and allow us to help you streamline your processes so that you can cater to your customer needs adequately. We guarantee you confidentiality of sensitive insurance data to safeguard your clients’ privacy.

The Certificate of Insurance is a document that provides detailed information, such as policy number, insurance provider, coverage limit etc., about an insurance. It is also an official document that validates the insurance cover. With so many insurance covers exchanging hands every day, it is a Herculean task for insurance companies to keep a track of everything and get these certificates verified. The insurance agencies struggle to process certificate of insurance due to its cumbersome and strict procedure. The tedious verification process that goes into its authentication can put an immense strain on agency’s backend and front-end teams. For this reason, many insurance agencies outsource insurance certificate processing for better insurance certificate management.

We, at Insurance Back Office Pro, can also customize the certificate of insurance management as per your unique business requirements.

Outsource Certificate of Insurance to Gain More Competency

Insurance companies were the last ones to get on board the outsourcing wave that started back in the 1980s. After the financial meltdown of 2008, companies started to see the merit in subcontracting their businesses to offshore vendors for efficiency and cost-effectiveness.

Over the years, insurance agencies have realized that their success lies not in administrative paperwork but in core competencies such as risk management, customer service, financial analysis etc. As a result, insurance companies realized that partnering with outsourcing services can help them redirect their focus where it matters most – business expansion.

Companies like yours should outsource insurance certificate processing for plenty of advantages. Some of them include:

  • Enhanced Management of Document: Your service provider guarantees you a compliance friendly process that helps in easy management and archiving of documents, thereby making them easy to track.
  • Improved Efficiency: With your offshore partner taking care of COI processing, you can streamline your frontend operations to generate more business and revenue.
  • Cost Effectiveness: By outsourcing to third-party vendors, you can prevent the need to hire more resources and investing in additional infrastructure.
  • Rebuilding Reputation: By outsourcing time-consuming tasks such as certificate of insurance, you can prioritize your customers and improve their experience, thereby enhancing your reputation in the process.
  • Risk Mitigation: A certificate of insurance company has years of experience in assessing risk and so can help you detect potential fraudulent activity on time.

While these are few major benefits, you can outsource certificate of insurance process to gain other benefits like time zone advantage and meeting resource crunch.

Certificate of Insurance Management Challenges That We Help Solve

Managing COIs is a tedious process that many insurance providers struggle with. One of the biggest challenges faced by insurance providers is need for clarity in terms of what is being represented in these certificates. However, despite all the emphasis on accuracy and clarity, insurance agencies find it hard to meet that goal effectively.

We, at Insurance Back Office Pro, strive to provide you that clarity with services that are geared towards protecting you from liability pitfalls.

Here are some of the challenges we help overcome:

  • Insurance contracts can be complex documents for an inexperienced professional to comprehend fully. However, our experts will carefully review the insurance contract requirements against existing insurance to remove all ambiguity due to use of esoteric language.
  • The most common problem with certificate of insurance is associated with additional insured status. Our trained professionals remove all uncertainty on their status by using an articulate additional insured agreement.
  • We protect your business against compliance violation by carefully assessing the policy terms and ensuring that all the regulatory specifications are fulfilled.

Our End-to-End COI Services

Insurance Back Office Pro has a team of experts who are trained and experienced to handle all necessary activities associated with processing, endorsing, and disbursing the certificates of insurance, that too within the regulatory framework. We have a dedicated team to process ACORD COIs for our clients. Our services include:

COI ProcessingWe process all COI requests quickly and affordably. All our COIs are processed on ACORD/ISO forms approved by your insurance provider.
COI ManagementWe offer clear channels of communication to handle and follow-up on all COI requests promptly. Our experts have a keen eye for detail and ensure that all your certificates of insurance meet compliance requirements.
COI ValidationOur insurance professionals have the knowledge to manage complex policy requirements and keep a track of those policies that are either expired or no longer compliant. This helps us in reducing the risk of contract violation and uninsured claims.
Compliance VerificationWe go the extra mile in double checking the accuracy of these certificates straight with the provider. Our process is streamlined and perfected to isolate defunct coverages, endorsement specifications, and additional insured endorsements, in case of errors.

Why Outsource Certificate of Insurance to Insurance Back Office Pro

When you outsource certificate of insurance process to us, we provide the following benefits and more:

Insurance Back Office Pro is a premium certificate of insurance company that simplifies the certificate issuance process while adhering to the industry and compliance requirements. We offer a skilled team of professionals, years of experience, state-of-the-art technology, and tight processes to keep your business free from expensive errors and liability traps. We also follow an efficient process of validating and disbursing the COIs to your patrons, staying well within the compliance framework. Our well-rounded certificate handling process allows us to quickly and accurately finish the job, helping you stay ahead of your competitors.

  • Experienced, licensed insurance professionals
  • 30% reduced TAT
  • 40% reduction in per employee operational cost
  • Flexibility to scale up to 80% during peak times
  • Quality control internal audits
  • 100% Compliance adherence with ACORD, ISO, etc.
  • 99% accuracy in documentation
  • Robust reporting system to ensure transparency and easy detection of flaws