Industry leading solutions managing growth and minimizing costs

Overview

The insurance industry continues to evolve, and for the past 10 years, ThoughtFocus has successfully worked alongside many companies to meet these diverse challenges. We have focused on specific areas, matching our domain expertise and knowledge to niche market sectors and issues.

Lead qualification

To maximize premium growth, it is imperative your underwriters spend time wisely; targeting and chasing the most profitable opportunities. Often the best sales prospects derive from your existing client base – if they have one insurance product renewed consistently year over year, chances are they will be open to more of your company’s products and services.

ThoughtFocus has proven methodologies to get more out of your existing clients. Too frequently your company is mono-lining even though offering multiple products. To enhance and broaden your current business, increase market penetration, and move away from this precarious narrow approach, ThoughtFocus will work hand-in-hand creating a lead qualification database. This combines existing customers with external, marketplace data and provides your underwriters with highly qualified, profitable clients.

Tracking your most profitable accounts’ details helps your team prioritize strategic relationships and focus their sales energies. Claims ratio, top brokers by profitable clients, quota versus production, sales growth percentage – these are some of the metrics ThoughtFocus uses for qualifying solid revenue generating leads.

Maintaining profitable long-term sales relationships is all about managing details and expectations. Having an in-place 24/7 system tracking the details puts your company in an excellent position to maintain critical business and personal relationships.

Submission preparation

Commercial underwriting insurers too often spend valuable time gathering, preparing, and managing submission data. Your underwriting and operations staff are spending time on data collection, validation, case triaging, and endorsement activities – all at the expense of more business-critical tasks such as loss analysis, risk identification, and pricing.

ThoughtFocus recognizes that for many insurers submission activities continue to be predominantly manual, leading to poor data quality and completeness. Leveraging ThoughtFocus’ strong BPO/KPO foundation, we offer an optimized way of bundling submission intake and pre-qualification through a combination of automated solutions and manual review; resulting in a fully prepared submission packet, one ready for underwriter analysis. ThoughtFocus offers improved processes at a time-saving economical cost, resulting in underwriter efficiency and effectiveness.

Reporting

Focus on your core business – insurance growth, not back office reporting. With our long history within the Insurance industry, we know insurers must meet an ever evolving strict set of reporting requirements while ensuring transparency.

We can cut down your report development time using remote login procedures with staff in low-cost centers, accessing required information and generating essential reports in real-time, on your system.  We can create a schedule reporting system, ensuring standard reports are delivered daily, monthly, quarterly or whatever needed time-frame. Shifting report generation to ThoughtFocus gives your executives the freedom to focus on revenue and policyholder growth.

Our reporting professionals, based in our global support centers, have the technical experience and insurance industry knowledge, ensuring your financial, marketing, statistical and/or internal reports are accurate and comply with the most recent insurance requirements.

As a result of working with ThoughtFocus in the areas of lead generation, submission preparation, and reporting, clients have experienced increased revenues, cost optimization, and greater customer satisfaction. Our goal is for our teams to closely work with yours, the resulting teamwork benefits the initial project and our long-term business and personal relationships.