Insurance Industry
Business Optimization
Business optimization/transformation is a high priority in every business. The technology being provided (workflow, content management, case management, information capture) is not designed to replace your existing or future core business application software (CRM, Claims, Policy Admin, Billing, and ERP systems). It is designed to front end and back end those systems with the ability to capture documents and information, store and retrieve that information, workflow that information through various processes, and report on that information in tandem with the data in your core business management systems. The point-and-click configurable automation tools are designed to optimize and transform your business processes with the least amount of manual implementation effort possible.
Compliment to Your Core Business System
Many companies have invested in a modern core system that may include workflow. There are still manual work arounds due to the disconnect between the core and ancillary processes. Connecting the content (applications, claim forms, customer correspondence) to the core system is the time consuming challenge. OnBase software can capture any information no matter the source (scan, email, fax, XML, EDI, electronic docs), provide exception handling pertaining to the document capture software processes, and provide access to files from within the core systems or from an easy to use web client.
Upgrade a Legacy System
Older mainframe systems typically have no workflow capabilities, an outdated user interface, and provide poor access to content. Updating these core systems is a huge investment that prevents many companies from taking on these projects. The OnBase Case Management tool can provide a bridge to modern features the legacy systems may not have. OnBase will also provide the capability to automate document and data capturing, provide access to content from within the legacy system or from an easy to use web client, and report on any data or documents in OnBase or in the core legacy system.
Structured & Unstructured Processes
Within the OnBase architecture, business process management tools can help automate things like claims handling or new business applications, thus helping to streamline predictable and repeatable tasks. In the instance where tasks are not repeatable and a consistent process does not exist, case management workflow tools provide the ability to track all cases while also providing the flexibility to have non-standard routing in order to get the work to the appropriate person quicker. Work can be delivered based on any metadata element or through load balancing which is used to distribute work evenly across user groups. Workflow management tools also increase internal controls to ensure staff members complete tasks according to the compliance requirements, creating consistency across the company.
Expedite Claims Handling
Success in today’s insurance claims handling requires instantaneous access to information for adjusters, too, as well as the ability to extend information and communications easily to claimants and third-party service providers. Insurers who leverage enterprise content management (ECM) software tightly coupled with claims automation systems achieve a valuable combination of visibility, intelligence, and customer care experiences to drive claims excellence. Better insights into claims operations, more productive adjusters, and improved communications to third-party relationships provide improved decision times, reduced loss adjustment expenses, and increased customer satisfaction.
Improve Customer Service
Customer service is often the differentiator in today’s competitive environment. Because ECM systems integrate with an insurer’s core systems, customer service representatives can search and retrieve the information necessary to immediately address customer, agent, and adjuster requests without leaving their core system’s screens. First call resolution is one of the biggest ways to differentiate one company from its competitors.
Underwrite Business Faster
Underwriters often require information from multiple systems and diverse sources, and in a variety of formats. With ECM, insurance underwriters can access all required information from a single user interface. This increased efficiency allows underwriters to provide more accurate assessments and make faster decisions with less time and effort while reducing risks associated with customer service level agreements.
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