Outsource Insurance Policy Checking Service

Our back-office support services for policy checking helps insurance agencies minimize errors, omissions and oversights in policies before issuing it to customers

Insurance Back Office Pro is a global insurance policy checking services company with deep expertise in providing back-office support for checking insurance policies. The scope of our job includes spotting errors and missing data and following up with carriers on behalf of agencies and brokers to get them rectified. Our streamlined services will help you deliver error-free policy issuance with quick turnaround times. Our clients prefer to outsource insurance policy checking services, to us because we strive to provide quality support to our clients.

Our policy checking process is carried out by a team of highly experienced insurance professionals with wide exposure to policy checking. Our process involves analyzing policy documents meticulously, with emphasis on the complex and critical aspects of a policy, understanding the differences in coverages and determining if it complies with industry and company standards. You can leverage our service to check new business or individual policies, same-carrier renewal policies (check for wording that may have changed from the preceding to the succeeding year), renewal policies with a new carrier etc. Our clients prefer to outsource insurance policy administration services to us for a complete and robust solution

Related Services

Insurance quotes
Loss run processing
Policy checking and administration
Endorsements and certificates
Claims administration
Invoicing, billings and accounts
Bookkeeping and forensic accounting

Our Comprehensive Insurance Policy Checking Service

Check Documents for Incomplete/Wrong Information

As a premier insurance policy checking company, our basic responsibility begins with the validation of customer details. Our in-depth review process enables us to uncover inconsistent information in the policy and perform a complete check on the policy standing. We scrutinize policy quotes, proposals and binders generation for the integrity of the information supplied on them. We avoid any scope for complications at the time of insurance claim by meticulously verifying policies for errors and missing information.

Identify Errors and Coordinate with Underwriters

The inclusions in the final policy depends on the insights of the underwriter. This makes policy underwriting a demanding task. With our accurate policy checking services, we greatly reduce the workload of the underwriting process. We take complete charge of verifying particulars of the quote, the proposal and the policy. This directly translates to faster turnaround times of the policy issuance process. We submit timely conclusions and information to the underwriter to ensure completeness of all the required information.

Verify Accuracy of Coverage Details

The coverage information is complete only when it contains policy adjustments from clients and there is a complete understanding of the terms and conditions of the policy from both the carrier and the customer. We contribute to the accuracy of the coverage details by authenticating and evaluating the adjustments requested by the client for inclusion in the policy. We undertake various verification procedures to check if the adjustments impact the premium of the policy and dispatch them for approval. As a global insurance policy checking services company, we leave no stones unturned to ensure accuracy of coverage details.

Check Policy Status

Insurers/carriers need to facilitate the checking of policy related information in order to keep customers updated about details like premium payment status and more. With our insurance policy checking services, your customers can check the status of their policies real time. We enable your customers to check vital information like instalment premium, bonus amount, the loan amount and the annuity. Our team of insurance professionals are adept at furnishing well-structured and accurate information about customer policies to add value to your insurance process.

Issuing Final Policy after Cross-Checking Underwriters Input

We complete all the back-end tasks of identifying errors and coordinate with the underwriter to get insurance policies updated in significantly shorter turnaround times. We double-check to ensure that customer requests for policy changes are accommodated after being verified by the underwriter. We ensure that the changes requested by the client are analyzed and evaluated prudently prior to the issuance of the final policy. Once everything is in place, we issue the final policy to the customer. We recommend insurance companies to outsource insurance policy checking services to us, to get full accountability of your entire policy checking process.

Our End to End Insurance Policy Checking Process

We follow a well-structured process flow to ensure we meet every quality parameter.

Receive Policy Document from Carrier

The document is received on the CRM system for the initiation of the review process.

Retrieve Proposal Document from Centralized Folder

The insurance proposal document of the respective customer is retrieved.

Compare Policy, Proposal for Difference

Consistency in policy information is assured by a thorough comparison of information on our system, the proposal and the actual policy itself.

Open Check List and Update Information

Basic customer information is updated on the policy based on the requirements of the checklist.

E-Mail Differences to Carrier if Any

The carrier is duly notified of any differences in the policy information via a written communication.

Dispatch Policy

The new policy is dispatched to the customer after ensuring every data is accurate and consistent.

How Outsourcing Insurance Policy Checking Service to us Gives Your Business a Competitive Edge

As a global insurance policy checking company, accuracy and consistency are the hallmarks of our policy checking services. Our well-defined process takes a policy through several stages of scrutiny and approval, each of which uses advanced commenting and tagging capabilities, to ensure no mistakes or slip-ups go unnoticed. This gives us the confidence to guarantee that none of the policies you sell have any chances of going void.

An inherent part of our process involves creating an audit trail of your policy review that covers all identified discrepancies and resolutions. This can be of immense help during legal battles, as it traces the protocols followed to demonstrate compliance. Keeping the legal aspect in mind, we continue to expand our abilities to meet the growing requirements of the insurance companies so that they can outsource insurance policy checking services to us and focus on their core tasks.

In case of workers’ compensation insurance, we also have an option to check from a range of specific lines of business. This helps in cutting down the time needed to check the business specific nature of the policy and deliver the validated version in the shortest possible time. We bank on the latest technology, a team of highly skilled professionals, and regulatory guidelines to deal with emerging complexities such as increase in legal cases, agent attrition, competition from brokerages and banks in the life insurance sector.

Our streamlined services enable us to assist our clients in reducing their expenses, errors, and handling times while simultaneously increasing service quality and profits. We utilize our experience to comply with international standards of the insurance industry.

Why Outsource Insurance Policy Checking to Insurance back office pro?

  • 8+ years of experience in policy checking for insurance agencies
  • Access to a team of 1000+ professionals specializing in policy checking
  • Well-established step-by-step process to check policy for accuracy
  • Up to 30% savings in TAT leveraging 24x7 operations
  • Automated process for less critical tasks
  • Up to 40% savings in per employee costs
  • Up to 50% scalability in process
  • Assured data confidentiality
  • Superior technology adoption
  • Stringent data security policies
  • Multiple delivery centers across different time zones to cater to clients’ 24/7 needs

FAQs on Certificate of Insurance Services

Insurance policy checking is the process of evaluating insurance policy papers for spotting errors and missing data. Once inconsistencies are spotted, they are sent to insurance carriers for corrections. These services are primarily performed by third-party vendors on behalf of agencies and brokers.

An insurance policy checklist comprises a list of to-do checks for ensuring the issued policy has current entries and proposals. It entails scrutinizing a host of aspects of the insurance policy including policy quotes, proposals and binder generation. Other critical aspects are part of the checklist include name, age, sex, date of birth, address, instalment premium, bonus amount, the loan amount and the annuity.

Policy checking administration is the process of end-to-end evaluation of insurance product issued to a customer, insurance underwriting, and policy proposals made to a buyer. It is a comprehensive process that enhances the effectiveness and accuracy of policy issuance. It consists of steps like receiving policy document from carrier/agency or retrieving proposal document from a centralized folder; comparing the policy based on a requirement checklist; emailing the inconsistencies to the carrier; receive the corrected version of the policy and reverifying the corrections made.

By outsourcing policy checking services to us you stand to gain in the following ways:

  • Access to a team of professionals with minimum 5 years of experience in policy checking
  • Well-established step-by-step process for policy checking
  • Up to 40% savings in per employee costs and 30% savings in overall turnaround
  • Complete data confidentiality with adequate and fool-proof data security measures

The various data-protecting measures we have in place include:

  • Access controls on Information Systems
  • Restrict access at physical locations
  • Protect all information by encryption
  • Use effective controls, like multi-factor authentication
  • Carry out regular audit trials
  • Robust data backup system

It would take us 1 to 2 weeks to start the process Can I contact Insurance Back Office Pro Sales team through Email? You can get in touch with us over email – info@insurancebackofficepro.com