The nature of the Property & Casualty and Life & Annuity lines of business requires detailed records and documentation 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. This will result in a significant cost savings for both the insurance company and its customers.
All Star’s OnBase Insurance solution focuses on automating document and data related processes and providing access to any information relating to claims, underwriting, policy binding and new application forms. In today’s business environment, investing in systems that focus on the customer experience and the end user experience is critical to keeping 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 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 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 applications (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 systems. The point and click configurable automation tools are designed to optimize and transform your business processes with the least amount of implementation effort possible.
Compliment the modern core
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 is the time consuming challenge. OnBase can capture any information no matter the source (scan, email, fax, XML, EDI, electronic docs), provide exception handling pertaining to the document capture processes and provide access to files from within the core systems or from an easy to use web client.
Augment the legacy core
Older main frame solutions 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 applications may not have. OnBase will also provide the capability to automate processes around the data and documents being captured, provide access to content from within the legacy system or from an easy to use client and report on any of the data or documents in OnBase or in the core legacy system.
Structured and unstructured processes
Within the OnBase architecture, process management tools can help to 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 provides the ability to track all cases but 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 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 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 ECM technologies tightly coupled with claims 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 integrates 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, 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.