Infosys - BPO Services

Offerings

Insurance

Infosys BPO’s insurance process outsourcing delivers end-to-end solutions to all stakeholders – the insured, insurance company, agent, broker and the banking interface. In addition to routine operations, Infosys BPO also delivers high-end analytics and actuarial analysis.

Overview

Over 120 person-years of domain experience driven by consultants and experts
Solution preceded by a risk-fit assessment to define the roadmap for offshoring
Comprehensive understanding of Life, Non-life and Reinsurance industry, enabling end-to-end solutions
Quote generation, policy issuance and maintenance, claims processing, agency reporting, management and statutory reporting, reinsurance, analytics, imaging, indexing and customer helpdesk capabilities
AICPCU, CII and LOMA certification processes in place for employees

Capabilities
Infosys BPO’s services cover:

Life Insurance: Term and whole life
Pension and Annuities: Pure pension policies, retirement solutions
Property and Casualty: Auto insurance, homeowners, specialty insurance

Infosys BPO offers both traditional services such as claims and underwriting, and newer services, including agency management, and accounting functions like premium invoicing and tracking AR/ AP.

New business acquisition	Policy management	Claims management
Application registration and scrutiny Data verification and history Quote generation Approval and binding	Document issuance Change request registration Endorsement issuance Mid-year cancellation Renewal tracking	Claim intimation/registration Policy verification Claim documentation Claim assessment Approval and disbursement
Accounting functions	Support functions	Others
Invoicing Premium receipt and returns Claims disbursement Banking/Bank reconciliation Commission management	Agency production reports Agency commission Management reporting/ Statutory reporting Actuarial/Analytics Customer help desk Imaging/Indexing	Reinsurance Catastrophe mapping/modeling Product designing Rating
Portfolio analysis	Product management	Business analytics
Profitability analysis for portfolio underwritten Line of business Product category Geography Demographics Risk analytics and statistical modeling for loss estimation	Use portfolio data for analytics on Marketing mix for Lines of Business Product mix decisions Product pricing decisions	Benchmarking studies against industry peers Root-cause analysis for metric improvements
Reserve adequacy	Catastrophe exposure
Claims analytics to determine adequacy of Loss reserves Unexpired risk reserves	Analytics to determine catastrophe exposure in terms of probable maximum losses Plan reinsurance for risk exposures and related limits

Infosys BPO Advantage

Risk Management
Infosys BPO has a dedicated risk management team that is tasked with evaluating and monitoring customers’ risk. Our risk managers, who include consultants from industry, draw up detailed evaluations and plans to manage operational and regulatory risks faced by customers across the United States, Canada, the European Union and Australia. They are part of our onsite or remote teams and ensure that the risk is managed at all times and mitigated to the maximum extent possible.

Offshoring Enabling Solutions
Infosys BPO’s proprietary ProPass Solution offers complete, end-to-end capabilities that make it simple to outsource both online and paper-based processes. Our capabilities include:

Mailroom management
Document management (scanning, imaging, hosting)
Workflow management

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