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 8 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.
|Loss run processing|
|Policy checking and administration|
|Endorsements and certificates|
|Invoicing, billings and accounts|
|Bookkeeping and forensic accounting|
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:
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: