Johannesburg, 15 Aug 2005
Business Edge Insurance, a division of Business Edge Systems (BES), has introduced InsureSlips, an innovative electronic communications solution that significantly reduces the paper trail currently bedevilling relationships between insurers, brokers and policyholders.
Underpinned by InfoSlip`s proven technology developed for electronic payslips, Business Edge Insurance has applied its own in-depth knowledge of the short-term insurance sector, resulting in a streamlined communication solution specifically tailored for insurance stakeholders.
InsureSlips offers huge benefits in terms of tangible cost savings - paper usage and postage is dramatically reduced due to vital information now being communicated via e-mail. Over and above the cost savings, InsureSlips also offers intangible benefits such as improved responsiveness to customers and partners, increased brand awareness, promoting a self-help facility that promotes the use of companies` self service portals.
InsureSlips is available in two categories: BrokerSlips for intermediaries and CoverSlips for policyholders. "BrokerSlips enables the insurer or brokerage to push business-critical information through to the broker community, including commission statements, loss ratio reports and claims reports," says Karen Malkin, director of sales and marketing at Business Edge Systems.
"Insurers can also push information on new product releases, such as product manuals, to their brokers in a wide range of formats including PDF, Excel and Word documents, using one communication mechanism. The idea is to empower the broker through technology."
CoverSlips allows insurers to e-mail policy schedules, policy wordings and claim settlement details through to the policyholders who are easily able to store this information for secure viewing offline.
"This has major advantages in terms of customer service," says Malkin. "No longer do policyholders have to connect to the insurer`s Web site and search for required information. They simply click on the link in the CoverSlip and are transported directly to where they need to be. There are no logins - it`s a secure, non-intrusive process. In addition, the technology integrates with SMS facilities allowing, for example the insurer to SMS the policy holder that a claim has been paid and the policy holder can then view details of the claim in a waiting e-mail."
InsureSlips are secure, doing away with multiple passwords, allowing password changes without connection to a server, allowing users to assist themselves in cases of lost passwords and locking out random attempts by hackers trying to guess the password.
Special compression techniques ensure the size of all communications are impressively small.
"InsureSlips is compliant with all the new legislation covering electronic communications and assists companies in meeting statutory document retention periods. Doubling as an important marketing and branding tool, it facilitates bulk mail shots and can be customised to heighten brand awareness," says Malkin.
"A further value-add is that as customers now have 24-hour access to past InsureSlips on their own PCs, companies can expect a substantial reduction in the volume of queries received."
"InsureSlips is a push-reporting product that can either replace or complement paper-based media and represents a cost-effective service that slots neatly into the end of the fulfilment and information production cycle," says Malkin.
"Fully supported by Business Edge Insurance, it ensures professional communication between insurers, brokers and policy holders."
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