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.
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.
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.