Insurance & Assurance Industry
Camdeus has receivable recovery activities presently going on for some of the world’s leading insurance and assurance companies.
Insurance and assurance recovery is often viewed as the most difficult segment of recovery for many. Camdeus has extensive experience to assist insurance companies in the recovery services process with its in-depth knowledge of the industry and the nature of the delinquent debts it faces.
There are many insurance companies that are not able to collect premiums for an insurance policy. There could be several reasons for this:
- Payment has not been maintained as regulated by policy.
- Payments were made wrongly for the insurance coverage.
Basic Types of Premium Recoveries
Employee related (personal accident) claim. Camdeus will assist insurance companies to recover premium payments from individuals and companies for the policy and recovering monies wrongfully paid by insurers.
Interim periods. How often has this happened: where insurance companies have made payments out on a claim, which exceeded the interim period? In some cases, the premium is not paid and the claims had never been approved and disbursed out. Camdeus can work with the insurance policy holder to recover the premium or the over-payment entered in the form of penalty or to simply reinstate them with the insurance company.
Non-payment due to insolvency. Camdeus will assist the insurance company to investigate and find solutions by recovering the insurance policy to make the company owners liable for the payments as per the insurance policy.
Absconded insurance agent. In many cases, insurance agents collect payments from their clients and fail to forward it to the insurance companies. This creates a great deal of complication for the insurers and the customer due to the serious breach by these agents. Camdeus will assist insurers to locate and recover from all absconded agents for the premium that they have embezzled with the penalty and overdue charges that have been incurred by the insurance company.
- Experts in insurance & assurance industry debt recoveries
- Consistent and proven results in the insurance & assurance industry since 1993
- Regulatory compliance with PDPA and commercial codes of conduct
- Dedicated team assigned to all major insurance company accounts
- Ability to handle early, middle and late stage delinquencies
- Voice logging provides a complete verbal audit trail of calling efforts
- Complaints management process ensure timely dealings with debtor complaints
- Comprehensive reporting and analysis ensures the right accounts are worked
- Strategic approach to managing portfolios and delinquencies
- Large database of information and resources to skip trace hard to track debtors
Camdeus has the proven processes, systems and resources for maximum results.