In the wake of technology-driven disruptions, fundamental shifts in consumer expectations, aggressive regulatory requirements, and increasing cost pressures, the global insurance industry is now faced with a whole new set of challenges.
In order to keep pace with such a dynamic environment and stay differentiated from the competition, insurers need partners who can support and enable them to grow and sustain themselves simultaneously.
MFX’s insurance processing services helps clients service their customers with efficiency and accuracy. By outsourcing critical processing functions, insurers can focus their efforts on exploring business opportunities and developing more aggressive growth plans.
MFX BPO Offerings – Underwriting Support
MFX BPO team offers Underwriting support covering the entire lifecycle of a policy. The BPO team currently performs Renewals, Endorsement (premium bearing and non-premium bearing) functions based on requests by the underwriters. The team is also capable of performing other UW support functions like midterm amendments and communication management, downstream processes like Policy cancellations, Reinstatements, as well as policy conversions from legacy systems on a project basis.
Our offerings across a policy journey include:
- Policy Conversions
- Certificate Re-issue
- Mid Term Amendments
- Policy Cancellations
- Communication Management
MFX BPO Offerings – Policy Administration
MFX BPO has a suite of offerings in Policy Administration area and currently provides Bind / Issuance / Submissions support for North American carriers. These functions are performed across both Personal and Commercial lines of businesses, covering major products like Auto, Property, Marine and General Liability. The team also carries out manual verification and validation of the data that is received and processed. Some of the key Policy administration processes carried out by MFX BPO team are:
- Sorting & Indexing
- Verification & validation
- Quotes and New Business
- Binds and Issuance
Our offerings are geared towards enabling you do what matters most – business expansion – while we take care of the rest.