Policy Servicing

Overview

One of the key service challenges for insurance companies is to ensure that customers renew their policies and pay their premiums on time before the policy lapses. This requires insurers to set up a retention and persistency management system that includes alerts and reminders, and service calls to customers at the right time.

Besides renewals and lapses, insurers receive a wide range of service requests from customers, including alterations in customer details, foreclosure, policy surrender, reinstatement or revivals etc. Insurers must resolve these requests quickly and efficiently or risk customer dissatisfaction.

Datamatics partners with insurance companies to manage the entire policy servicing lifecycle. Our teams work on client applications and ensure they deliver proactive service and quick turnarounds on all requests, enabling a superior experience for their end customers.

Our policy servicing solutions enable insurers to maintain high rates of retention and persistency.