Insurance Automation Solutions for Back Office Software
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While underwriting and claims are the primary focus of many insurance companys' technology investments, significant benefits can be gained through automation solutions for back office functions from contracts management to accounts payable. Whether it’s by leveraging tools like Document Assembly for corporate legal or automated ERP integration for corporate finance, the results can substantially help organizations meet their operational goals in cost reduction and enhanced compliance. Join us and learn how our insurance document automation solutions can transform your business processes and help you achieve your 2016 goals. Built on the Alfresco ECM platform, our solution allows users to continue working with the tools they prefer, while automating around them with components such as: *Automated Records Management *Advanced Workflow for Contracts, Cases, and More *HotDocs for Document Assembly *SAP Solutions Powered by Connexas *SeeUnity for Microsoft Dynamics and Salesforce Modules Zia Consulting delivers Secure Back Office Solutions to help you address the cost and complexity of managing your most corporate critical documents—from employee records and legal documents to contracts—allowing you to save time and money across your back office.
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Insurance Automation Solutions for Back Office Software
- 1. Automation Solutions for the Back Office
- 2. ©2015 Zia Consulting, Inc Insurance + Technology Where You Spent Money Where You Spend Money
- 3. ©2015 Zia Consulting, Inc Automating the Rest Accounts Payable/Finance Human Resources Corporate Legal “Case Management”
- 4. ©2015 Zia Consulting, Inc Costly Error- ProneSlowComple x People, Paper, Process
- 5. ©2015 Zia Consulting, Inc What’s in it for You? 50%+ Increase in Productivity ROI <9 months 10-20% Growth Without Headcount 80% Reduction in Error Rates 85% Reduction in Processing Time
- 6. ©2015 Zia Consulting, Inc What If We Classified Everything? Your Classification Our Classification
- 7. ©2015 Zia Consulting, Inc And Processes Were Automated? Your Process Our Process ©2015 Zia Consulting, Inc. All Rights Reserved.
- 8. ©2015 Zia Consulting, Inc And Systems Were Integrated? Your Users Our Users ©2015 Zia Consulting, Inc. All Rights Reserved.
- 10. ©2015 Zia Consulting, Inc Introducing HotDocs Automated Document Generation Delivering: Substantial Cost/Time Savings Reduced Errors Enhanced Compliance 8 of the Top 15 Insurance Companies
- 11. ©2015 Zia Consulting, Inc Making the Case…. For Case Management Contracts? Applications? Accounting? Claims? Essentially, Do You Have Employees, Customers, Partners…? Automation From Initiation to Processing to Closing IDC, Advanced Workflow, RM, Document Generation Wanna Save 5,000 Work Hours?
- 12. ©2015 Zia Consulting, Inc Use Case: Human Resources Recruiting to Offboarding Process Automation: Intelligent Capture Document Generation Universal Content Security HCM Integration ziaconsulting.com/hr-solutions
- 13. ©2015 Zia Consulting, Inc Use Case: RM/Archiving Collaboration Meets Enterprise Governance Automated Archiving: Outlook, SharePoint, ERP/CRM, etc. “Event-Driven” RM Photos, Audio, Video Files
- 14. ©2015 Zia Consulting, Inc Use Case: Invoice Automation Any Source: Paper, Fax, Email, Upload Automated Workflow Content Hub — DM/RM Accounting/ERP Integration Less Than 3 Months Saving Hundreds of Hours Annually 90%+ Accuracy
- 15. ©2015 Zia Consulting, Inc Introducing Connexas Certified Alfresco/SAP Connector ERP & HCM Modules Synchronization, Archiving, Workflow Pernexas SAP Partner since 2008
- 17. Who is Zia? EST. 2003 Boulder, CO Critic al Not Casual Controlling Chaos + Delivering Rapid ROI Process & Integratio n Open Platforms Content People
- 18. ©2015 Zia Consulting, Inc Zia Insurance Solutions P&C, Life, Reinsurance, Specialty Automation: Claims, Applications Outlook/Office365/SharePoint Migration/Modernization Initial Consulting Engagements (ICE)
- 19. ©2015 Zia Consulting, Inc Next Steps Document Automation Assessment/Demo Zia Insurance Automation Solutions: ziaconsulting.com/insurance-solutions Insurance Webinar Series: Part 1 – Claims Automation Part 3 – Addressing Cyber Security ziaconsulting.com/events-calendar
- 20. Questions? Phil Robinson SVP Business Development Zia Consulting phil@ziaconsulting.com
Editor's Notes
- Welcome – thank you – some of you attended our first webinar on claims automation, thanks for joining us again – for those who didn’t - Phil Robinson – bit of my background – before moving into technology and ECM specifically, spent 10+ years in insurance, both P&C and Reinsurance But not about me, the processes and systems that I’ve used - About your organization – your systems, your processes what do I mean by this title – today we’re going to not focus on the core business functions of applications or claims, but instead look at in effect everything else – your back office from corporate legal to finance to HR Our IP as Zia – understanding how to apply modern, really next-generation technologies to your business process – how to apply intelligent capture, email integration, advanced workflow central content hub for document & image/video management, enterprise integration, records management, and more… So let’s get started
- So as I said - while underwriting and claims are the primary focus of many insurance companys' technology investments, significant benefits can be gained through automation solutions for back office functions from employee onboarding to accounts payable. Whether it’s by leveraging tools like Document Assembly for corporate legal or automated ERP integration for corporate finance, the results can substantially help organizations meet their operational goals in cost reduction and enhanced compliance. Today we will look at how our insurance document automation solutions – often built around the concepts of case management - can transform your business processes and help you achieve these 2016 goals. Built on the Alfresco ECM platform, our solution allows users to continue working with the tools they prefer, while automating around them So what do we mean here – Invested in modernizing core systems / insurance suites – guidewire, duck creek, whomever How much time spent on contracts automation, or invoice automation - how manage paper, workflow, access to documents, storing of records, - and yet often these are areas where substantial cost savings can occur
- Understand this might be the non-glamorous side with IT investments But we’ll look at the substantial benefits available through automation of what are largely “case management” business processes – including a corporate legal case where the company literally was able to save thousands of hours a month With HR from Applications to Onboarding to Offboarding And automating the RM / Archiving process Through invoice automation
- Costly – How much money is spent in your organization managing the paper & processes around invoices, or employee applications, or legal cases Complex – documents via paper, fax, email, upload, mobile – what about facebook or twitter? For many – because of the lack of integration – for digital documents, perhaps arriving via email – have Print + ReScan issue Slow – Modern consumer – want instant access, instant answers – where’s my application status Manually entering data – perhaps from one screen to the next Error Prone What happens w/ manual entry – errors
- We see over & over with automation solutions like these – Over 50% increase, less than 9 months ROI Study we mentioned last time – 10% to 20% growth without headcount And reduce errors by 80% and processing time by 85% For organizations it’s about: Profitability Customer Satisfaction / Retention Compliance Growth Actionable BI
- Everything – whether paper, fax, email, upload, mobile, etc… Classified, data extracted & validated With full page OCR – and without bar codes or seperator pages With accuracy What if you only focus on exceptions – with invoices, applications, etc…
- Including Doc Assembly Workflow, Records Management, ERP/CRM And obviously Insurance Management / Case Management Systems EXAMPLE – ITM Twenty First??? And kicked off business process Flexible Tasks / roles, integrated with tools like Outlook, a content / ECM hub Automation of tasks like Records Management
- And ultimately the value of letting people use the tools they know, and work with every day – enhances productivity and adoption of systems and processes Not “two screen” problem Not “print & rescan” problem Single system of record, with access for all
- So what are the building blocks or tools that we use? Starts with Intelligent Classification & Extraction as we said – as some have said “it basically pays for itself” – our partner and recommended vendor is Ephesoft, Central Content Hub – ECM “single system of record” – Alfresco Activiti for BPM And delivered to Systems like StoneRiver, Guidewire + also Legacy Mainframe Systems (again B&L had 6 claims systems) – or ERP/CRM/HCM systems
- Accurate document generation is a necessity for insurance providers. In this highly competitive and regulated market, you must ensure that your policies and contracts are not only delivered quickly and error free but are also compliant with existing laws and internal policies. To minimize risk, many insurance companies, including 8 of the top 15, automate the document generation process using HotDocs. Virtually no document or form, regardless of its length or complexity, is too much for HotDocs to handle. HotDocs can be integrated with multiple databases, allowing you to generate custom documents and forms from existing client files. Whether your specialty is in property and casualty, life, or health care, HotDocs can help you generate accurate, error-free documents and forms faster than you thought possible. HotDocs has highly evolved APIs and can be integrated into any website, web application, or workflow. You can run HotDocs in your own hosting center, or you can access HotDocs in the cloud. HotDocs is a very flexible product and is often used within several departments of an organisation. One global insurance company has three different implementations of HotDocs and it is utilised to automate a large selection of documents such as severance agreements, summons, claims, motions, lending documents for real estate and insurance policy information for expatriates, including dental, life, prescription and medical information.
- A “case” is any project, transaction, service or response that is “opened” and “closed” over a period of time to achieve resolution of a problem, claim, request, proposal, development or other complex activity. It is likely to involve multiple persons inside and outside of the organization, with varying relationships to each other, as well as multiple documents and messages. (AIIM) Contracts / agreements with vendors, agents, others – CORPORATE LEGAL / CORPORATE FINANCE Applications – business side, but also employee applications (next) Accounts – and obviously claims Saving time is a major benefit when using HotDocs and one of the largest insurance companies in the United States drastically reduced the time spent on producing documentation after introducing HotDocs into the business. Before HotDocs was implemented, this organisation was struggling with a hard to maintain document assembly system that could not deal with the huge amounts of documents such as legal letters, litigation, plaintiff and opposing counsel claims that were needed to run the business effectively. Now with 1,500 employees using HotDocs and 13,000 HotDocs templates, 20,000 documents are being produced per month and savings of approximately 5,000 work hours are made in the process.
- 4 part - VIDEO SERIES: Initiation & case management of application – use office applications, with outlook integration, and automated workflow leveraging capture + validation Creating an employee package with hotdocs – including electronic signature functionality Universal security – however share docs inside or outside Automated records management
- Store in a single system of record Access by legal, claims, underwriting Archiving / storage of growing size of photos, audio, video
- We can’t automate, our invoices aren’t standardized – they arrive as Paper, Fax, Email, Upload, EDI. All of our invoices are so different, we don’t have any single large vendor or small group of vendors Our business rules are too complex to automate – with approvals, exception processes, etc… Workflow – including email routing, approvals, tasks Ereplacement parts – less that 3 month, hundreds of hours of employee time, 90%+ accuracy
- What you’re going to see is the ability to work in SAP – with an invoice example, preview an invoice document in SAP but actually store directly in Alfresco, with all associated metadata and the ability to then convert into a record as necessary Very simple example – with made up folder names – but should show you how integration works
- Our History / Our Focus We do content – not just any content, but critical. With a focus on process-intensive content Take our skills and build repeatable solutions on open platforms To again help you control your chaos and automate your manual/paper-centric processes
- Across the industry – case studies: Across your organization Applications to claims Talked about outlook – but also solutions for sharepoint & office 365, and again next time cover integrations with items like SAP & Dynamics And as mentioned, our Active Migrate methodology which we’ve used to move hundreds of millions of documents into Alfresco And ICE
- Where go from here – First – if this might be a fit – let’s talk – talk to us / happy to have you talk to customers Look at your claims process, show you more depth the solution Visit our web page, few other demos And we’d welcome you on our next webinar covering both internal data security but also what to look at when providing cyber coverage