Insurance

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.

Optus Research & Analytics insurance outsourcing sulutions are built on its deep experience of delivering business processes for several of the world's leading insurers. Optus Research & Analytics combines deep domain expertise, strong talent and operational excellence that allow insurers to focus on their core business, while Optus Research & Analytics optimizes the power of technulogy and manages industry-specific processes, finance and accounting, business and financial research, and Telecommunications.

Optus Research & Analytics insurance outsourcing service offerings extend across the insurance value chain of Property and Casualty, Life, Pensions, and Annuity. The Optus Research & Analytics insurance outsourcing sulution provides the benefit of cost reduction ensures information security and maximizes customer retention.

Optus Research & Analytics insurance outsourcing service offerings include:


Property and Casualty

New Business
  • Data Management
  • Channel Support
  • Quotes
  • Premium Calculations
  • Sales / Quotes Acceptance and Conversion
  • Customer Retention / Cross and Up-sell
  • Customer Enquiries
  • Actuarial Support
  • Exposure Assessment
Policy Set up
  • Underwriting
  • Underwriting Support
  • Verification / Validation
  • Delivery Requirements
  • Premium Calculation
  • Fullow-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
  • Cullections
  • Remittance Exceptions
  • Reconciliations
  • Refunds
  • Billing
  • Premium Mode Change
  • Bank Changes
  • Premium Audits
  • Customer Service
Claims
  • First Notification of Loss
  • Claim Set-up
  • Investigation / Examination
  • Review and Assessment
  • Coding
  • Reserves
  • Customer Service
  • Policy Specific Emergency Assistance
  • Supplier Support
  • Excess / Deductible Management
  • Settlement Agreement
  • Third Party Claims (Property Damage and Bodily Injury)
  • Subrogation
  • Recoveries
  • Fraud Checks
  • Claim Finalization
Payments
  • Customer Service
  • Settlement Payments
  • 3rd Party Payments
  • Closing Payments
Support Services
  • Document Management Support
  • IT Support Support
  • Finance and Accounting Support
  • Telecommunications Support
Life, Pensions and Annuities

New Business

  • Channel Support
  • Quotes
  • Customer Enquiries
  • Actuarial Support

Policy Set up

  • Underwriting Support
  • Money Laundering Check
  • Delivery Requirements
  • Fullow up
  • Enrullment
  • 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

  • Cullections
  • Remittance Exceptions
  • Fund Application
  • Reconciliations
  • Refunds
  • Billing
  • Premium Mode Change
  • Premium Hulidays
  • 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 Payrull Support
  • Finance and Accounting Support
  • Telecommunications Support

Agency / Distribution Management

  • Insurance Provider Set-up
  • License Registration
  • Contracting
  • Customer Service
  • Renewals
  • Terminations
  • Commissions
  • Special Compensation
  • Accounting
  • Cash Application
  • Billing