The Outsourcing Decision
In 2018, the insurance company turned to Covenir. It needed help with a wide range of functions including underwriting, print/mail, premium management and customer service.
By outsourcing its business processes, the insurance company was able to move full speed ahead with its growth plans. Later, when the company was more mature, it planned to move some functions back in-house.
The Ongoing Partnership
Covenir became an extension of the insurance company’s team, providing the experience, support and resources needed to expand.
When the company transitioned to a new policy administration system, Covenir executed the policy conversion tool, performed comprehensive quality control and ensured that all policy coverage components came into the new system correctly and that no coverage was dropped. Covenir also split and applied premium payments to both billing platforms through the one-year conversion onto the new platform.
In another instance, Covenir set up a chat function so the company’s agency network could quickly communicate with the underwriting department. This helped agents facilitate faster and more accurate quotes, policy issuance and service.
With Covenir’s help, the insurance company didn’t just meet its ambitious growth goals; it surpassed them. Today, the company writes $250M in premium and operates in five states. It just acquired another company, is rolling out new products and continues to grow efficiently.
Now that the company is larger, it will begin managing its call center and underwriting functions in-house, while continuing to rely on Covenir for premium and print/mail services.
This is a perfect example of what Covenir provides: Exactly what you need, when you need it, with the flexibility to grow on your terms.