Article written by Stephanie Onofri
Let’s face it. We rely on Insurance Companies to cover just about everything we own. But who covers each Insurance department to ensure that document intensive processes such as claims or underwriting are timely, compliant, and devoid of error?
Although you might proofread documentation, the claims process is notably complex and subject to error. Since the time it takes to finalize the process is directly correlated with client satisfaction, wouldn’t you rather adopt a system that can – among other things – audit data for you, faster than you can, and with more accuracy? Most of Insurers’ time and expenses are tied-up fixing problems of inefficient, outdated manual processes. In addition, with ever-shifting regulation, paper processes need to constantly change to fit those mandates, and as we know, these are difficult and painstaking to change. Insurers need to make sure their document management solution can be relatively easily modified to adapt/comply to new reform mandates.
With Enterprise Content Management (ECM), data processing is made easy, efficient and more accurate, helping Insurance Companies leverage information, maximize growth, and boost client satisfaction.
Here’s how your ECM solution accomplishes this:
- AUDITING: The claims process is complex and subject to errors which take time and money to fix. Automated auditing eliminates those costly errors.
- BUSINESS PROCESS AUTOMATION: The time it takes to process a claim is directly correlated with client satisfaction. Many standard tasks can be automated to clear up time for more profit-rending solutions and implementations.
- INSTANT & SECURE ACCESS TO RECORDS: With ECM you can control the level of access each employee has to secure records, which reduces the risk of regulatory infringement.
- COMPLIANCE-WORTHY: Reform mandates are difficult to keep up with and require time that could be spent handling profit-making tasks. Your ECM system can be easily modified to fit the ever-changing needs and regulations of the industry.
From providing real time policy and procedure changes to employees and agents to dispersing payments quickly and painlessly, ECM is the Insurance solution that guarantees improved productivity and return.
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