Automated Insurance Forms and Rating Manuals
- The Challenge: Disparate content, manual content management processes
- Crown Solution: Electronic document management
- Business Benefits: Automated workflow, reduced costs
The Challenge
Insurance agencies plagued with unending content find it difficult to manage these volumes of paper documents. And for agencies leveraging ERP applications to streamline processes, some end up disappointed when content silos limit the potential efficiency gains of their new systems.
Take for example an insurance company excited about finally implementing an ERP platform. The company quickly realized that an electronic document repository would be necessary so they could achieve their targeted operational efficiencies. Because of the lack of connectivity between the ERP system and hardcopy documents, knowledge workers were forced to manually correlate system information and paper printouts.
Crown Solution
Crown’s solution for Automated Insurance Forms and Rating Manuals can help centralize content, provide a repeatable creation process, and employ best practices across your organization’s business processes. The EMC Documentum platform solution allows the insurance company to realize tangible operational efficiencies in each business unit. By deploying a fully automated workflow system, agents can easily generate company-specific forms and broker manuals from approved templates, and then electronically distribute them throughout review processes for approval. They can also import forms into an electronic underwriting program to electronically generate end-user policies.
Business Benefits
By centralizing massive volumes of insurance agency content, the Crown solution offers agencies significant benefits in efficiency and cost savings. In fact, the agency noted in the example above ultimately realized $2.7 million in cost savings. Benefits of the Crown solution for Automated Insurance Forms and Rating Manuals include:
- Centralized content
- Repeatable processes
- Quicker turnaround in revision cycles
- Reduced costs through real-time policy, rate, and instructional information for agents
- Standardized customer-facing brand identity
- Improved policy-making