When insurance companies discuss policy options with a client, conduct a risk assessment on a new policy, or service a claim, it's essential that agents have immediate access to accurate and comprehensive information. To protect their customer base, these companies also focus on reducing claims processing time and customer inquiry resolution. The large volume of cases—and associated paperwork—makes efficient operation of an insurance business a significant challenge.
Enhance customer service
Speed up claims handling and improve response time to customers by capturing information as quickly as possible and delivering it to customer service staff.
Optimize operational efficiency
Eliminate document processing inefficiencies with advanced capture features such as virtual batching, automated document classification, data capture and validation, document out sorting, and centralized scanning administration and analytic
Establish a ‘Capture Center of Excellence’ Achieve economies of scale and free agents and other field personnel to focus on value-added activities by processing multiple document-driven applications in a Shared Services environment.
Empower better decision-making Enable adjusters and other staff across the organization to make timelier, better informed decisions by capturing more information from every channel, and delivering it faster to the key decision makers.
Reduce costly exceptions Catch exceptions before they cost you. Superior image quality, patented detection of piggy-backed documents, best-in-class image manipulation tools, and automated data validation all work together to greatly reduce the chances of downstream exceptions.
Mitigate risk and compliance issues Stay ahead of data thieves and auditors with role-based access restrictions, complete audit trails, activity logging, data encryption, and centralized administrator security controls and visibility.
Five Ways Document Management Can Make Your Insurance Agency More Profitable strong Instant Access Document Scanning Services. One of the largest benefits to using an Electronic Document Management System (EDMS) is the ability to access documents (policies, claims, etc.) at any time, from anywhere. No more running back and forth to the file cabinet or asking an assistant to track down a relevant document. Think of the time savings that can be felt across the agency when it only takes seconds to find a policy.
Electronic Workflow Whether document workflow consists of processing client, staff, or vendor/provider documents and email, workflow occurs every single day. Realizing how often document workflow occurs each day, one begins to consider ways to improve and streamline the document workflow process so as to maximize time and cost savings.
Search and Retrieval Capabilities Most agencies store policy documents across three or four separate locations: centralized paper-based file cabinets, papers in an employee’s desk, folders on shared server drives, and local desktop hard drives. - Structural Search - Keyword and Document Title Search - Full Text Search
Integration with Other Office Applications It is now possible for small and medium-sized agencies to achieve levels of application integration historically reserved for large corporate organizations with deep IT pockets. Specifically, now an EDMS can be integrated with other core firm applications to drive efficiency and manage IT costs.
Disaster Recovery According to research by the University of Texas, only 6 percent of companies suffering from a catastrophic data loss survive, while 43 percent never reopen and 51 percent close within two years.
Paper documents stored in file cabinets are susceptible to fire and flood. You cannot recover a paper document that has been destroyed by a fire or a flood. But the problem goes beyond your paper files. Electronic documents stored on workstations and servers across your operation are equally vulnerable to catastrophic loss.
Return on Investment An EDMS can be a very valuable tool for insurance agencies. Take a look around your office and plug in numbers that make sense for your agency.
Employees benefit from systems that streamline processes and boost their productivity. Reducing the amount of time that staff spends chasing down associated records, digging through stacks of paper, or attempting to re-produce a missing document, can increase productivity and enhance customer service.
Our insurance document scanning and data capture services have been designed to increase both speed and efficiency in your organisation. It is vital that critical documents such as claims and related correspondence flow from the point of entry to the claims handling team and onwards throughout the rest of the business. Without the right system in place your organisation will face such challenges as declining incomes, rising claims risk, fraud risk and both inaccurate customer and claims data. Scanext can help you overcome these challenges to streamline and optimise information flow across the business. This will help reduce costs, risk and increase both sales efficiency and customer service performance whilst achieving regulatory compliance.
Our suite of document capture solutions for insurance operations and claims processing provides: - High-speed, high availability document capture - Flexible and powerful health insurance business rules - Dynamic document processing - Intelligent sorting of checks, separator sheets or original documents - Image enhancement using Dynamic Tiff
Scanext scanners help companies in the insurance industry: - Improve claims processing time by utilizing scanners to manage workflow. - Meet regulatory compliance with better recordkeeping, enabled by secure and fast scanners. - Scan to PDF for easier document sharing and archiving.
Getting the RIGHT copier to meet the complex needs of the Insurance industry is more complicated. More complicated, but definitely better for you in the long run. You want your multifunction copier to do more than one thing for you. You need to take the time to determine what you need, not make a snap selection based on what you think you need or, even worse, the “best price.” You need to be able to scan claim forms & client policy, which means using scanning functionality to digitize paper case files. You need to be able to print and copy files – and be able to recover costs related to cases and clients. Documents need to be scanned and sent to your electronic document management repository. Scanning to email, security features, and more are crucial capabilities your copier needs to deliver to your office.