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Insurance and Document Automation Part I: Getting Organized

Insurance and Document Automation Part I: Getting Organized

The Insurance and Reinsurance fields rank right up there with the legal profession and human resources as some of the most document intensive industries. Even without including the actual policy documents which are by themselves quite formidable, supporting files such as proposals, summary quotes, disclosure statements, are just a handful of the multitude of documents required to complete most matters.


Automated Assembly

Automated document assembly software will save you time, that much is clear, but in the insurance industry where so many documents require precise data to be entered in to forms and Tables in order to perform accurate Calculations, entering the correct data into your documents is essential for success.
The ability to pull Data from Sheets helps ensure that the information going into your policies is correct. You can also guarantee this by pulling previously approved information from other documents which you can be assured are relevant to your current matter. Strong document automation software can not only import data into a single document, but can be used to populate a Bundle of documents.
The right document management solution not only ensures accuracy, but also saves time. For instance, Batch Generation tools help users automatically generate multiple documents at the simultaneously.


Sharing and Collaboration

The parties working on an insurance matter normally range from different groups. It is not always necessary for everyone at an organization to review all the documents related to a matter, and in fact, for security reasons it may be preferrable to set up User Groups to maintain proper confidentiality and privacy concerns.

The use of User Groups also makes both external and internal Sharing easier, and the use of Workflows and Approvals help ensure that the right people see the right documents at the right time, building efficiency into the process and helping matters close quickly.


Time Savings

The number one complaint that consumers have with their insurers is how claims are handled. Some complaints center around speed and access. An automated document assembly solution that allows customers to access External Forms to complete a claim, not only empowers the customer by granting more control over the process, but also if using the right software, the information that is entered by the customer can automatically generate the necessary documents privately, meaning i the customer would not see the documents until they were ready to be shared by the agent.

Another way that automated document management tools help save time and therefore increase savings is through the use of Electronic signature solutions to execute agreements and polices. A trusted automated document management solution offers easy integration with popular eSignature tools. Some offer Biometric Signature solutions which are just as quick and convenient but with an added layer of security.

With the number of documents, and the complexity of the industry, Automated Document Assembly and Management is the only way to offer customers the best service and stay ahead of the pack.

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