Our policy services support the entire policy lifecycle — from binding to policy issuance, premium billing, and endorsements and renewals — giving clients faster turnaround times, more satisfied policyholders, and greater competitive edges.
For property/casualty, executive and professional, marine, healthcare, accident and health and workers compensation carriers, our teams’ knowledge of and working experience in diverse global regions like North America, Asia, Europe, and Australia (including deep familiarity with local insurance regulations) help our clients enter new markets.
Our team directly enriches client operations in several ways, including reducing time in issuing policies, integrating and testing systems for implementation, and monitoring service standards. We also document processes and manage forms libraries for regional standardization and support multiple language requirements. Xceedance helps our clients’ underwriters be less involved in issuance, so they can be more engaged in risk assessment. We streamline and standardize documentation and reporting using database tools to automate routine processes and reduce turnaround times.
Our team helps our clients with everything from schedules to policy language, from declarations to exclusions, conditions, and coverage limits. Our attention to detail also extends to interfacing with all other functions within an insurance organization to ensure completeness, coherence, consistency, and process optimization.
In addition to policy services, we offer business process studies for policy processing. Our team will review your current processes for new business, endorsements, billing and collections, renewals, and your existing technology landscape. We then document each step in the process and identifies opportunities for improvement, including process changes and system changes or enhancements. The final deliverable is a comprehensive report with recommendations for each improvement area, from both a business process and technology perspective.
Analyze, manage, and automate policy changes, amendments, additions, or deletions.
Mitigate exposures and manage renewals — including renewal solicitations and non-renewal notices, taking mid-term endorsements into consideration.
Manage the requisite forms for every region and line of business, including endorsements, policy wording, and schedules.
Enable the entire billing process, from full payment processing and invoice generation to daily reconciliation and agency commission report processing and distribution.
Handle any call and other types of communication efficiently and professionally, encompassing policy and billing inquiries to phone payments to after-hours and holiday coverage.
Business Process Studies
Review your current processes for new business, endorsements, billing and collections, renewals, and your existing technology landscape, and identify areas of improvement.