Insurance Services

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When a business cannot tolerate any downtime in the functioning of its operations, it should set up at least one Disaster Recovery Facility. There could be two functioning centers in different cities with additional provisions to accommodate more if the need arises. So if one of the call centers has to close for a while then the agents from this center can be flown to the call center in the other city where the traffic has been redirected.


    Types of Insurance Services Include:
Insurance Claims (Data Entry/Processing & Administration)
  • Disability Claim Forms
  • Dismemberment Claim Forms
  • Critical Illness Claim Forms
  • Hospitalization Claim Forms
  • Death Claim Forms
  • UB (Uniform Billing) Data Entry Services
  • HCFA (Health Care Financing Administration) Data Entry Services
  • CMS (Centers of Medical & Medicaid Services) Forms
  • ADA Claim Forms
  • Data Management Services
  • Many More Client Specific Insurance Claims Services (Customized)
Insurance Transcription Services
  • General Transcription Services
  • Claim Processing Transcription Services
    • Claim Statement Transcription
    • Recorded Statements for Workers’ Compensation Claims
    • Transcribing Field Investigations, Telephonic Conversations and General Correspondences
    • Liability Status Reports, Casualty Status Reports and Auto Claims Reports Transcription
    • Legal Transcription and General Transcription for Insurance
    • Many More Client Specific Claim Processing Transcription Services (Customized)
  • Medical Data
  • Investigator Claims
  • Third Party Administrators
  • Independent Adjusters
  • Many More Client Specific Insurance Transcription Services (Customized)
Sales & Marketing
Customer Support & Servicing
  • Sales
  • Policy Cancelation
  • Policy Alteration
  • Billing Quarries
  • Coverage Information
  • Collateral Verification
  • Many More Client Specific Insurance Customer Support & Servicing Services (Customized)
Case Management
  • Client Specific Case Management Services
Agency Management
  • Client Specific Agency Management Services
Policy Administration
  • Client Specific Policy Administration Services
Underwriting
  • Client Specific Underwriting Services

Risk Assessment
  • Client Specific Risk Assessment Services
Policy Insurance
  • Client Specific Policy Insurance Services
Class Action Document Management
  • Client Specific Class Action Document Management Services
Accounting & Bookkeeping Services
  • Actuarial Accounting
  • Fiduciary Accounting
  • Premium Accounting
  • Many More Client Specific Accounting & Bookkeeping Services (Customized)
Actuarial Services
  • Life Actuarial Services
  • Property & Casualty Services
  • Solvency II Services
  • Many More Client Specific Actuarial Services (Customized)
Property & Casualty
  • New Business
    • Data management
    • Channel Support
    • Quotes
    • Premium Calculations
    • Sales/Quotes Acceptance & Conversion
    • Customer Retention/Cross and Up-Sell
    • Customer Enquiries
    • Actuarial Support
    • Exposure Assessment
    • Many More Client Specific Services (Customized)
  • Policy Set Up
    • Underwriting
    • Underwriting Support
    • Verification/Validation
    • Delivery Requirements
    • Premium Calculation
    • Follow-up
    • Policy Issue
    • New Business Rating
    • Many More Client Specific Policy Set Up Services (Customized)
  • Policy Changes
    • Customer Service
    • Name/Owner/Address/Other Changes
    • Certificate Re-issue
    • Adjustments/Endorsements/Rider & Coverage Changes
    • Renewals & Quotes
    • Cancellations
    • Many More Client Specific Policy Changes Services (Customized)
  • Premiums
    • Collections
    • Remittance Exceptions
    • Reconciliations
    • Refunds
    • Billing
    • Premium Mode Change
    • Bank Changes
    • Premium Audits
    • Customer Service
    • Many More Client Specific Premiums Services (Customized)
  • Claims
    • First Notification of Loss
    • Claim Set-up
    • Investigation/Examination
    • Review & Assessment
    • Coding
    • Reserves
    • Customer Service
    • Policy Specific Emergency Assistance
    • Supplier Support
    • Excess/Deductable Management
    • Settlement Agreement
    • 3rd Party Claims (Property Damage & Bodily Injury)
    • Subrogation
    • Recoveries
    • Fraud Checks
    • Claim Finalization
    • Many More Client Specific Claims Services (Customized)
  • Payments
    • Customer Service
    • Settlement Payments
    • 3rd Party Payments
    • Closing Payments
    • Many More Client Specific Payments Services (Customized)
  • Support Services
  • Many More Client Specific Property & Casualty Insurance Services (Customized)
Life, Pensions and Annuities
  • New Business
    • Channel Support
    • Quotes
    • Customer Enquiries
    • Actuarial Support
    • Many More Client Specific Services (Customized)
  • Policy Set Up
    • Underwriting Support
    • Money Laundering Check
    • Delivery Requirements
    • Follow Up
    • Enrollment
    • Policy Issue
    • Many More Client Specific Policy Set Up Services (Customized)
  • Policy Changes
    • Customer Service
    • Name/Owner/Beneficiary/Address/Other Changes
    • Certificate Re-issue
    • Adjustments/Endorsements/Rider & Coverage Changes/Fund Changes
    • Lapses
    • Quotes & Reinstatements
    • Renewals & Quotes
    • Terminations
    • Cancellations
    • Surrenders
    • Many More Client Specific Policy Changes Services (Customized)
  • Policy Benefits
    • Policy Loans
    • Withdrawals
    • Dividend
    • Customer Service
    • Many More Client Specific Policy Benefits Services (Customized)
  • Premiums
    • Collections
    • Remittance Exceptions
    • Fund Application
    • Reconciliations
    • Refunds
    • Billing
    • Premium Mode Change
    • Premium Holidays
    • Bank Changes
    • Premium Audits
    • Customer Service
    • Many More Client Specific Premiums Services (Customized)
  • Payments
    • Customer Service
    • Closing Payments
    • Automatic Payment Withdrawals (APW)
    • Maturities
    • Tax Competence
    • Many More Client Specific Payments Services (Customized)
  • Support Services
  • Agency/Distribution Management
    • Insurance Provider Set-up
    • License Registration
    • Contracting
    • Customer Service
    • Renewals
    • Terminations
    • Commissions
    • Special Compensation
    • Accounting & Bookkeeping
    • Cash Application
    • Billing
    • Many More Client Specific Agency/Distribution Management Services (Customized)

  • Many More Client Specific Life, Pensions and Annuities Insurance Services (Customized)
Many More Client Specific Insurance Services (Customized)
  • Please Contact Us to discuss your specific outsourcing needs
    Types of Actuarial Services Include:
Life Actuarial Services
  • Financial Reporting & Measurement
    • Validation of Model Point Files – Reconciliation & Movement Analysis
    • Experience Analysis, Including Laps/Persistency Analysis, Mortality/Morbidity Analysis
    • Production of Results – Basis Generation, Production Runs for In-force Business, Stress Testing & Extraction of Results
    • Stochastic Run for With-profit Business
    • Analysis of Change (AOC) – Impact on Key Variables, Including Present Value of Future Profit, Margins, Asset Share & Cost of Guarantees
    • Consolidation & Submission of Regulatory Forms
    • Many More Client Specific Financial Reporting & Measurement Services (Customized)
  • Actuarial System Support
    • Data Management
    • Model Development
    • Automation & Optimization
    • Regular Maintenance & Quality Control
    • Many More Client Specific Actuarial System Support Services (Customized)
  • Actuarial Technical Support
    • With-profit Products Surrender / Transfer Value Review
    • Regression Testing of Policy Admin Systems
    • Product Governance Reviews
    • Many More Client Specific Actuarial Technical Support Services (Customized)
  • Many More Client Specific Life Actuarial Services (Customized)
Property & Casualty Services
  • Product Development, Underwriting & Pricing
    • Portfolio Review and Profitability Analysis for Both Personal & Commercial Lines
    • Advanced Pricing Techniques, Including Generalized Linear Models, Catastrophe, Stochastic, Risk Based Techniques
    • Integrated Pricing, Underwriting and Claims Framework to Support New Product Development
    • Predictive Modeling for Customer Behavior, Life Time Value and Effectiveness of Distribution Channel
    • Specialized Work in Niche Areas, Such As Re-Insurance Pricing Analysis, Cross-Selling Opportunities for Distribution Channels
    • Many More Client Specific Product Development, Underwriting & Pricing Services (Customized)
  • Claims Reserving
    • Reserve Evaluation
    • Reserve Variability
    • Many More Client Specific Claim Reserving Services (Customized)
  • Marketing & Claims Analytics
    • Acquisition Analytics
    • Retention Analytics
    • Claims Analytics
    • Many More Client Specific Marketing & Claims Analytic Services (Customized)
  • Many More Client Specific Property & Casualty Services (Customized)

Solvency II Services
  • Internal Models
  • Information Technology & Data
  • Risk Management
  • Reporting & Disclosure Requirements
  • Many More Client Specific Solvency II Services (Customized)
Many More Client Specific Actuarial Services (Customized)
  • Please Contact Us to discuss your specific outsourcing needs

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Staff Leasing

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Virtual Captive

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Process Outsourcing

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Please contact your local Solutions Consultant to discuss your customized outsourcing requirements.
 

Our Office

Level 32, 101 Miller Street
North Sydney, NSW, 2060, Australia
Phone: +61 (2) 9730 0896
info@parallelsourcing.com.au


Sales & Marketing:

info@parallelsourcing.com.au


Head Office – Sydney:

sydney@parallelsourcing.com.au

Contact Us