Insurer
Established in 1997, THE BEST Funeral Society (TBFS) is one of the largest independent administrators and a vastly experienced Underwriting Management Agent (UMA). We offer Business Processing Outsourcing (BPO) solutions to multiple insurers and are ideally positioned to partner with you in guiding, designing, and developing tailor-made solutions while delivering extensive technical and infrastructure support.
Why Insurers Choose TBFS
- State-of-the-art technology, digital AI capabilities, and a comprehensive database to identify potential claims fraud
- Specialised capability to deliver low-premium insurance in the emerging Financial Inclusion market, driven by economies of scale, low operating costs, and operational efficiency
- White-labelled and tailor-made group funeral administration and benefit solutions
- Bulk-buying power and market expertise to provide better pricing and value for policyholders
- Full membership and claims handling with embedded call centre facilities
As a vastly experienced Underwriting Management Agent (UMA), through comprehensive Insurer underwriting mandates, we are ideally positioned to partner with Insurers, Intermediaries & Group clients in not only guiding, designing and developing tailor made solutions, but also in providing its partners with extensive experienced technical and infrastructure support.
Over the years, TBFS has refined its value offering into two main services, Underwriting Management and Administration.
Underwriting Management
Underwriting consultancy, product development, and pricing focused on the low-income insurance market; ongoing risk analysis, mortality investigations, actuarial valuations, premium splits, and monthly reporting to insurers’ cession accounts.
Policy Administration
Access to proven cloud-based infrastructure for administration, customer care, and servicing (including 24/7 call centre capability in all official languages and outbound facilities). Fully digital and integrated, covering FICA compliance, premium collection, IFRS 17 regulatory reporting, and other record-keeping obligations.
Systems
Robust, scalable, remotely deployable integrated cloud-based solutions, developed with many years of experience and best-of-breed ITC providers, with direct access to portfolio data for each insurer.
Compliance and Regulatory
Governance and compliance are central to all operations as a UMA serving multiple insurers.