OnBase Software Insurance Solution

Insurance Concepts

 

The nature of the Property & Casualty and Life & Annuity lines of business requires detailed records and documentation management to complete each transaction. This typically results in a complex information management process with multiple levels of approval. Documentation supporting each transaction comes in many formats, such as Internet forms, paper documents, electronic documents, fax and email. In addition, customer service representatives and insurance agents need quality information and the ability to efficiently track transaction history. It is imperative to deliver more effective information and communication between field agents and headquarters, whether remote or internal to the organization. An effective information management system (IMS) will result in significant cost savings for both the insurance company and its customers.

All Star’s OnBase Insurance Solution focuses on document and data management automation to provide easy access to any information relating to insurance claims, underwriting, policy binding and new application forms. In today’s business environment, investing in data management systems that focus on the customer experience and the end user experience is critical to retaining customers and employees. Systems that are simpler to use and easier to create/maintain will yield less effort and more productivity from both the IT aspect and the business user aspect. OnBase software is the answer to that requirement because of its point and click configurability and it’s easy to use and intuitive user interface.

Not a replacement for your core business systems

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 the modern 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 the 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 and 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 provides the ability to track all cases while also provides the flexibility to have a 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.

 

ACCELERATING Business Processes