Insurance Services
Immense Outsourcing provides a robust, market-driven approach designed to support the growth and success of its clients. Over the years, we’ve built a strong service offering that adapts to the evolving industry landscape. Our deep understanding of the changing market allows us to pivot and adjust strategies as needed to stay ahead.
We offer comprehensive, end-to-end solutions that help clients navigate the complex world of insurance. Our expertise ensures that clients are able to effectively manage risks, protect their assets, and maintain financial stability in the face of uncertainty. We focus on providing value at every step, from assessing risks to implementing strategies that safeguard our clients’ interests.
At Immense Outsourcing, we place a strong emphasis on innovation. By staying current with the latest trends and technological advancements, we help clients stay competitive and resilient in the ever-changing insurance market. Our client-centric approach ensures that we deliver tailored solutions that meet the specific needs of each client, ensuring they are well-equipped to handle challenges and capitalize on new opportunities.
Our Insurance Solutions
Distribution (brokers, agencies) :
Distribution in the insurance industry involves brokers and agencies that act as intermediaries between insurance companies and customers. Brokers help clients find the best insurance policies suited to their needs, while agencies represent specific insurers, offering their products to clients. Both play a key role in connecting providers with customers, expanding reach, and facilitating the purchase of insurance.
- Client profiling
- Placement
- Invoicing
- Claims
- Fiduciary support
- F&A support
- Actuarial support
Underwriting & policy support:
Underwriting and policy support involve assessing risks and determining appropriate coverage for clients. Underwriting evaluates applications, ensuring that policies align with both the insurer’s and policyholder’s needs. Policy support provides ongoing assistance, including managing policy changes, renewals, and claims. This comprehensive service helps clients maintain optimal coverage while ensuring insurers remain financially secure and compliant with industry standards.
- Quote binders
- Submissions
- New business
- Underwriting
- Support policy
- Management
- Endorsements
- Renewals
- Credit Control
- Cancellations
Claims:
Claims management involves multiple stages to ensure effective resolution. FNOL (First Notice of Loss) initiates the process, followed by liability assessment and claims adjustment. Subrogation recovers costs from responsible parties, while litigation addresses disputes. Supplier management ensures smooth operations, and settlements fraud detection prevents dishonest claims. Each step ensures accurate, efficient, and fair claim resolution for all parties involved.
Insurance analytics:
Insurance analytics involves leveraging data to enhance decision-making across various areas of the industry.
- Distribution analytics
- Marketing analytics
Underwriting analytics - Product performance
- Claims analytics
- Reserving
- CAT
- Modelling pricing
Shared services :
Shared services provide centralized support across various functions, helping organizations streamline operations and reduce costs.
- Finance and accounting
- IT services
- Compliance support
- Legal support