Policy Administration Outsourcing in P&C — What’s Included & Why It Matters
Policy administration is repetitive but mission-critical. Outsourcing these tasks frees carrier and MGA teams to focus on growth instead of paperwork.
What Is Policy Administration Outsourcing?
Commonly outsourced tasks:
- Endorsements (changes mid-policy)
- Renewals (processing and reminders)
- Cancellations and reinstatements
- Certificates of Insurance (COIs)
- Policy data entry into AMS/core systems
Benefits of Policy Administration Outsourcing
- Faster turnaround times
- Reduced errors through standardized workflows
- Lower back-office costs
- Better compliance documentation
Risks & Considerations
- Ensure partner follows carrier/MGA compliance standards
- Check integration with core systems
- Use reporting dashboards for transparency
FAQs
What is policy administration outsourcing?
Delegating endorsements, renewals, cancellations, reinstatements, and COIs to a specialized provider.
Why do insurers outsource policy servicing?
To cut costs, speed up processing, and ensure compliance.
What systems can policy outsourcing teams use?
Most partners work with Guidewire, Duck Creek, Origami, or custom AMS platforms.
Free your underwriters from admin. Explore SelectSys policy outsourcing.
