NRDH Solutions for Insurance Industry
Intense competition, shifting customer loyalty, entry of new players and a stringent regulatory environment are contributing towards creating a tough insurance market.
Insurance companies are now under pressure to change their business models, streamline operations and improve process efficiencies. Industry leaders are increasingly turning to insurance outsourcing to help them compete and grow.
NRDH's insurance outsourcing solutions are built on its deep experience of delivering business processes for several of the world’s leading insurers. NRDH combines deep domain expertise, strong talent and operational excellence that allow insurers to focus on their core business, while NRDH optimizes the power of technology and manages industry-specific processes, finance and accounting, business and financial research, and analytics.
NRDH's insurance outsourcing service offerings extend across the insurance value chain of Property and Casualty, Life, Pensions, and Annuity. The NRDH insurance outsourcing solution provides the benefit of cost reduction, ensures information security and maximizes customer retention.
NRDHS's insurance outsourcing service offerings include:
Property and Casualty
New Business
- Data Management
- Channel Support
- Premium Calculations
- Customer Retention / Cross and Up-sell
- Customer Enquiries
Policy Set up
- Underwriting Support
- Verification / Validation
- Delivery Requirements
- Premium Calculation
- Follow-up
- Policy Issue
- New Business Rating
Policy Changes
- Customer Service
- Name / Owner / Address Changes
- Certificate Re-issue
- Adjustments / Endorsements / Rider and Coverage Changes
- Renewals and Quotes
- Cancellations
Premiums
- Collections
- Remittance Exceptions
- Reconciliations
- Refunds
- Billing
- Premium Mode Change
- Bank Changes
- Premium Audits
- Customer Service
Payments
- Customer Service
- Settlement Payments
- 3rd Party Payments
- Closing Payments
Claims
- First Notification of Loss
- Claim Set-up
- Investigation / Examination
- Review and Assessment
- Settlement Agreement
- Subrogation
- Recoveries
Claims (cont.)
- Coding7
- Reserves
- Customer Service
- Policy Specific Emergency Assistance
- Supplier Support
- Excess / Deductible Management
Claims (cont.)
- Fraud Checks
- Claim Finalization
- Third Party Claims (Property Damage and Bodily Injury)
Support Services
- Document Management Support
- IT Support
- Finance and Accounting Support
- Analytics Support
Life, Pensions and Annuities
New Business
- Channel Support
- Quotes
- Customer Enquiries
- Actuarial Support
Policy Set up
- Underwriting Support
- Money Laundering Check
- Delivery Requirements
- Follow up
- Enrollment
- Policy Issue
Policy Changes
- Customer Service
- Name / Owner / Beneficiary / Address Changes
- Certificate Re-issue
- Adjustments / Endorsements / Rider and Coverage Changes / Fund Changes
- Lapses
- Quotes & Reinstatements
- Renewals and Quotes
- Terminations
- Cancellations
- Surrenders
Policy Benefits
- Policy Loans
- Withdrawals
- Dividend
- Customer Service
Premiums
- Collections
- Remittance Exceptions
- Fund Application
- Reconciliations
- Refunds
- Billing
- Premium Mode Change
- Premium Holidays
- Bank Changes
- Premium Audits
- Customer Service
Payments
- Customer Service
- Closing Payments
- Automatic Payment Withdrawals (APW)
- Maturities
- Tax Competence
Support Services
- Document Management Support
- IT Support Support
- HR and Payroll Support
- Finance and Accounting Support
- Analytics Support
Agency / Distribution Management
- Insurance Provider Set-up
- License Registration
- Contracting
- Customer Service
- Renewals
- Terminations
- Commissions
- Special Compensation
- Accounting
- Cash Application
- Billing