Case Study

Support Rapid Insurance Growth With Policyholder-Obsessed Service

Overview

A Florida-based homeowners insurance company had big goals. It wanted to rapidly grow premiums to $100M, without having an expensive infrastructure. To achieve that type of growth, it needed major back office support.

The Outsourcing Decision

The insurer needed help with a wide range of functions including underwriting, print and mail, premium management and customer service.

By outsourcing these business processes, they were able to move full speed ahead with robust insurance growth plans.

A True 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.

Additionally, 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.

The Result

With Covenir’s help, the insurance company didn’t just meet its ambitious growth goals; it surpassed them. Today, the company writes $250M in premiums and operates in five states. It just acquired another company, is rolling out new products and continues to grow efficiently.

“With Covenir’s help, we didn’t just meet our ambitious growth goals; we surpassed them.”