| Industry Solutions | Insurance |
| Insurance |
| Overview
| IT Solutions | BPO
Solutions | Business Benefits |
| Overview |
The insurance industry has witnessed increased convergence and consolidation.
Differentiation is difficult as products and services are becoming
commoditized. Some of the other drivers of change in the industry are
highlighted below:
Change in delivery channels
With technology emerging as the key enabler and customer expectations
increasing, the insurance sector has to rethink the way services are configured
and delivered.
Pressure on operating margins
The nature of the industry demands that records and transactions span a long
period. This underscores the need for process efficiencies. Organizations are
thus compelled to focus on core market and customer facing activities and
outsource back office processes to improve profitability.
Stricter regulatory environment
Insurers also need to address diverse regulatory requirements such as HIPAA and
corporate governance demands driven by mandates such as the Sarbanes-Oxley Act.
Our Offerings
Zenith's dedicated insurance practice tailors IT and BPO
solutions for meeting the specific business requirements of the industry.
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IT
Solutions
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Our IT
solutions for the insurance industry span Product Development, Migration and
Re-engineering and Systems Integration. Our consultants have decades of
experience in Life and Risk Insurance sectors. We have partnered with leading
Insurance technology providers in the UK and USA to deliver services to their
customers.
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Life Insurance |
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. New Business
. Quotations, Premiums
. Plan Maintenance
. Investment and Accounting
. Policy Servicing, Agency Management |
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Re-Insurance |
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. Underwriting
. Claim Management
. Premium Closing
. Broker Ledger Accounting
. Statistical Accumulations and Analysis |
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Casualty and
Property Insurance
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. Underwriting
. Policy administration
. Rating
. Billing
. Claims & reinsurance
. Reporting and Analysis
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BPO Solutions
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Zenith provides BPO services for the Life Insurance, Auto Insurance, Re-Insurance, Property & Casualty domains within the insurance industry. We have built expertise on customer-centric processes of leading global Insurance brands.
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| Service Offerings |
Service Details |
| New Business |
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Application Data entry and validation
. Reviewing of Applications
. Inbound/outbound calling
. Case Management
. Document Handling
. Policy Issuance/Cancellation |
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Claims Processing &
Administration
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. Data
capture and validation
. Fax/email processing
. Escalations
. Document Handling
. Outbound status call |
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Policy Administration
& Servicing
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. Amendments handling
. Renewals handling
. Complaints handling
. Accounting and Reconciliation
. Premium administration
. Document Handling
. Surrender
. Reinstatements
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Business
benefits
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Streamlined processes leading to greater efficiency
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Improved turnaround and settlement time leading to better customer satisfaction
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Improved productivity and speed-to-market
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Reducing Operating Costs
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Increased profitability
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