In the paper-intensive insurance industry, the costs of document mismanagement range up to 50% of employees` time and 15% of corporate revenue. Insurance companies that rely on paper and microfiche for document storage and retrieval experience lower productivity, higher costs, inferior customer service and inadequate disaster recovery capabilities.
And electronic access is only the first step, because most computer-based systems offer fragmented information views and multiple, incompatible applications. This is because early attempts to manage content focused on that produced by word processing applications, spreadsheets and e-mail, and ignored content generated by production systems such as billing, finance, accounting and customer relationship management applications.
June Julyan, product manager of , believes this latter category of content will fuel next generation e-business applications. "The challenge is to manage and transform this business-critical output into the appropriate format for multiple delivery channels to employees, customers, partners, agents and suppliers," she says.
A recent research note states: "Insurers must deploy new tools and modify their policy and claims systems to reduce costs, support Web-based transactions and manage business processes more efficiently. Those that do not invest in updating their infrastructures will be disadvantaged in the marketplace and be unable to transform their organisations or achieve sales and service excellence."
The solution lies in integrating all the content in your enterprise to support e-business and internal processes. Today`s customers understand the power of technology, and they expect their insurance company to use it to deliver better products and more convenient service. This includes using the insurer`s Web site to report claims, pay premiums and manage policy accounts, having questions answered in a single call, and obtaining account information at any branch or agency location.
As the official South African representative of , the predominant provider of total content management (TCM) solutions, Bateleur Software Solutions has the answer. The ViewDirect TCM solution combines content and process to support all e-business requirements and internal operations. Two of SA`s leading insurance companies, and , are already deriving benefits from this product.
"ViewDirect TCM is simple to implement, easy to use and scales to grow with the business," Julyan says. "It supports volumes from a few thousand to billions of pages per month."
At the heart of ViewDirect TCM is the world`s most powerful content repository. It captures, stores, links and Web-enables content in any format, from any source - policies, claims, statements, photographs, report output, declarations, scanned forms, e-mail, transactions, customer correspondence and more.
"This product eliminates the fragmented information views that result from multiple, incompatible systems," Julyan points out. "It provides a 360-degree view of the customer, enabling enquiries to be resolved on a single call and reducing customer service costs. In addition, policyholders can view their account information online or obtain reprints of transactions, claims and benefits."
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