Content management systems designed specifically for the insurance market are tantamount in guaranteeing success and gaining a competitive edge. Few industries are as paper and data driven, which underline the need for a proper business process solution. The insurance industry will require new strategies that align people, processes and technology- whether managing Health and Annuities, Property and Casualty or Life. In addition to safeguarding the company data and reducing the dependence on filing cabinets, an ECM solution can provide unique advantages to the insurance field.
Insurance Processes
Claims Case Management
Essentials:
- A central repository to store all structured and unstructured data
- One click access to critical information with dynamic linking (link to document mgmt. page)
- Binding of related information into a single case folder
- Route assignments through the workflow automatically based on specific business rules
- Enable alerts and notifications
- A flexible and scalable system that does not require extensive and time-consuming IT resources
Rewards:
- Improved hit ratios and lower LAE
- Improved customer service and satisfaction
- Quicker and more informed decision making
- Get today’s work done today
- Adapt to fluctuations in volume without increasing personnel
- Generate consistent policies and claims quickly and easily
Underwriting
Essentials:
- Integrate information from multiple systems and sources
- Advanced recognition auto indexes information and binds related content together for a more comprehensive case management system
- Immediate access to the most accurate information from any application
- Secure repository with granular permissions and controls
Rewards:
- Balance new and existing risks effectively
- Eliminate manual tasks and bottlenecks to avoid processing delays and errors
- Enhanced service and increased satisfaction from clients and agents
- Better protect confidential information and offer peace of mind that cortical content is secure
Compliance
Essentials:
- A complete and transparent audit trail of all activity in the system
- A secure repository with granular permissions and controls
- Flexible system that requires no coding or IT support to manage
- Retrieve information quickly with dynamic linking and full text searching
Rewards:
- Satisfy auditors quickly and easily
- Enhanced support of processes that surround regulations
- Maintain the integrity of data and documents in the system over any time cycle
- Business can adapt to changing regulation requirements
