Article written by Stephanie Onofri
In today’s business environment, insurers are challenged not just to manage vast amounts of digital information, but also increasingly to use that information to achieve a competitive advantage in the marketplace. For an industry still trying to break free from siloed business processes and under increasing regulatory scrutiny, the challenge of integrating unstructured data and systems is a real problem. This is why, increasingly, Enterprise Content Management solutions have become a key strategic technology for insurance companies.
Taking that first small step toward an Enterprise Content Management (ECM) system can seem like a giant leap for many practices, but this forward movement gives your insurance company the momentum it needs to reach your enterprise goals in a faster and more cost-efficient way.
We’ve all heard the hype behind “paperless claims,” but document conversion to electronic format is only the beginning of the benefit wheel of adopting an ECM software solution. Let’s take a look at some of these:
Obviously! Let’s face it: paper is a pain no matter how you look at it. It is a pain to lug around, it is a pain to dig through, and it is a pain to edit. So why continue the hassle?
With an ECM solution, cumbersome insurance files & documents no longer need to be transported from floor to floor. Personnel will no longer have to dig through pile after pile to find the right claim or underwriting document. In addition, they will no longer have to use goopy white-out just to fix a simple error. All documents are stored electronically without crowding valuable office space.
Ditching the paper means that those HIPPA-protected documents once stored in dusty file room, at rick to be accessed by unauthorized persons in your building can now be accessed electronically with secure controls by authorized personnel only.
Working in the field adjusting a claim, but need a document? With electronic document storage, needed documents can be accessed remotely from your mobile device. All you have to do is log into the password-protected system to retrieve what you need.
You can now locate your documents much easier. All it takes is a couple clicks of your mouse to find the right claim, underwriting paperwork or other documents.
Don’t just settle for your current system. Go Beyond. Industry leaders have already taken the giant leap into Business Process Automation and Enterprise Content Management. Take that first small step toward a system that gives futuristic results! To learn more, download our Ultimate Guide to ECM below!