Insurance
In the competitive and highly regulated environment of the insurance industry, document management is the cost-effective solution used to remedy inefficient agency processes. Effective use of document management contributes to maximized agency profitability that surpasses simple ROI factors. Insurance professionals everywhere are discovering that their ability to manage agency information is a major determinant of success.
Agencies with an information overload use document management systems to leverage their content to create new opportunities for profit and growth. The key savings and efficiencies document management systems customers experience pave the way to achieving both long and short-term agency goals. No longer just a luxury designed for large conglomerates, document management is now accessible to small to mid-sized insurance agencies.
With policy underwriting, claims processing, customer data entry, actuarial and investment activities, invoice procedures, discount verification, money transfers, etc. to handle, sufficient organization is a requirement to avoiding slow operation and increased costs that will affect the bottom line.
Document management provides a way to streamline and often automate
day-to-day processes that can overwhelm an agency’s staff. Sufficient
space for storing old paper documents presents extra costs for storage and
retrieval, resulting in lost time and money.