Well-managed operations increase efficiency, reduce operating costs and turnaround times, and streamline business booking processes, increasing profitability exponentially. Rules-driven workflows, the timely flagging and escalation of exceptions, and the automation of routine tasks play an essential role in this regard.
Optimal risk selection and well-planned operations are fundamental to profitability. Xceedance can help you with both these aspects. We receive and clear submissions based on predetermined guidelines, mandatory checks, and relevant data capture. The submission status is communicated to the underwriter in a timely manner, thereby increasing efficiency. Submission processing is systematized by recording coverage limits, premium, installment information, and renewal and domicile dates. Further, premium-bearing transactions are coded to satisfy ASLs. Xceedance insurance experts also provide support by way of post binder invoicing, billing and collections, revenue collections, and disbursements.
Access to proprietary tools and processes allows us to strengthen and reinforce policy lifecycle management and renewal processes. We create renewal entries, send renewal notifications to LOB groups between 90-120 days in advance, improve regulatory and MIS reporting, and provide strong functional and technical support. Although Xceedance is a global organization, our resources are allocated at the local level to facilitate the best possible support for our clients. Our teams are well-informed about local business nuances as they are involved in cross-training across four continents and in-depth expertise on international clients. Our varied offerings include insured management, quote and bind, renewal management, and other miscellaneous support services. We have the expertise, services, and highly skilled teams to enhance insurance operations irrespective of our clients’ locations.