Many in the insurance industry are still dealing with manual, inefficient claims processes that are costly and complex, impacting both company profitability and customer satisfaction. Whether in property and casualty, life insurance, reinsurance, or any other type, improving claims process efficiency to deliver a competitive advantage has become a top priority. So, how can you reach these goals?
Join Alfresco Partner of the Year, Zia Consulting, on August 3, 11AM MDT, for a 30-minute webinar on intelligent claims automation. You’ll hear an example of how the insurance document automation solution we created for Baldwin & Lyons modernized their mailroom and intelligently routes claims documents. This greatly reduced response times and error rates, enhancing business results and customer satisfaction.
Join us and learn about intelligent claims automation solutions featuring:
*Alfresco ECM as a Central Content Hub
*Ephesoft IDC for Classification and Extraction
*Integration with Claims Management System
*Expedited Viewing with Snowbound Software
*Automated Records Management
Outlook integration is available throughout the claims process for workers who prefer to continue using that tool, as well as the ability for customers to upload claims documents directly via a portal. All of these options are available either on-premise or as a cloud-based solution.
With our claims automation solutions, organizations are able to deliver measurable business results, both in operational efficiency and also enhanced customer satisfaction, through a reduction in processing time and error rates. Join us and see how we can transform your business.
17. Who is Zia?
EST.
2003
Boulder, CO
Critic
al
Not
Casual
Controlling Chaos
+
Delivering Rapid ROI
Process &
Integratio
n
Open
Platforms
Content People
Welcome – thank you – as emily mentioned – three part series focused on how automation solutions built w/ modern technologies can save you time & money, enhance customer satisfaction & retention, and even address data security
what do I mean by this title
Blog – commercials during football games, etc… – allstate, farmers, liberty mutual, etc… iphone app – take a picture, get paid
What about everyone else – literally thousands of insurance companies across country and around the world – like Baldwin & Lyons insurance, case study discussing today – who provides specialty insurance to the transportation industry – how can you benefit – and BTW – some of those companies I’ve named, also benefit
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
Today’s focus on Claims Automation – not about replacing your Claims Management system – you have one, you’ve likely invested significant amounts of money into it – whether Guidewire, others
About automating the business processes you use – I’ll be Introducing a number of tools / technologies that play a key role in building a solution – but again is about finding the exact right fit for your organization, although will talk about how worked for Baldwin & Lyons
Our IP as Zia – understanding how to apply modern, really next-generation technologies to your business process – in this case claims – how to apply intelligent capture, email integration, central content hub for document & image/video management, claims system integration, records management, and more…
Insurance is different – little differentiation in “products” – so really focus on price and service
Obviously is a promise to pay – and this is the “moment of truth” in industry terms – oh and typically over 50% of claimants are not fully satisfied – which means they switch…
And have micro regulation – state specific regulation (much less country specific)
And regulators – more highly focused on claims – since over half of complaints related to that area
So what do we mean here –
Invested in modernizing core systems / insurance suites – your Claims Management System – guidewire, duck creek, whomever
In many cases – ignored the Claims Process – how claims received, how manage paper, workflow, access to documents, storing of records,
EXACTLY THE CASE WITH ONE OF OUR CUSTOMERS –
A homeowners insurer in a catastrophe-prone area, after deployment of a new Claims Management System (one of those mentioned) – actually found that many of the costs actually came prior to interaction with claims system – together with IT team, deployed a new Intelligent Capture technology with remote scanning and email integration, using a technology called Ephesoft who we’ll discuss today, and also a new content hub, Alfresco who we’ll discuss today, and integrated w/ claims management system
Costly –
Infosys estimate – 7.5% of total operating costs just on claims processing! (not claims) – large cost center
Complex –
Claims documents via paper, fax, email, upload, mobile – what about facebook or twitter?
Move from polaroid pictures when I started in insurance – to now videos taken on mobile phones – how manage, how store
Oh – and because of M&A – B&L had 6 different claims systems!
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 claim status
All of the issues discussed from paper, people, process lead to delays
Error Prone
most estimates are minimum 50% reduction in costs – at Zia talk about ROI less than 9 months, 50%+ increase in productivity
Customer Satisfaction / Retention – about better service:
Most estimats 85% reduction in time to process with automation
B&L – discuss throughout – 8 hours down to 15 mins
Declined brand loyalty
Focus on customer service as a differentiator – customer retention is really a huge issue – don’t discount the value of simply being able to answer a question about a claim – where in the process, what received / missing, etc…
Compliance –
Again regulatory agencies increasingly focused on claims as area of concern
Growth –
Major concerns with B&L limited from growing by ability to process docs – claims specifically
example case study, grow 10-20% annually without any hiring
Also - benefit of flexibility in business process – new lines of business, new territories (states/countries), etc…
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
And kicked off business process
Flexible
Tasks / roles, integrated with tools like Outlook, a content / ECM hub – and of course your Claims Systems
Automation of tasks like Records Management
And ultimately the value of letting people use the tools they know, and work with every day – from outlook to claims system – enhances productivity and adoption of systems and processes
Not “two screen” problem
Not “print & rescan” problem
Single system of record, with access for all
Mature, proven technology – both Alfresco ECM in 2005 and Activiti BPM from 2010
As see – now over 200 customers, with over 7 billion docs stored in Alfresco
Open source – but more important to us is open platform
Tagline is Simple, Smart, Secure –
Alfresco combines the smarts IT needs with the simplicity users love and the security business can count on.
Simple - Work Any Way, Anywhere
Content access from familiar apps and devices
Seamless integration with the apps people “live in,” like Microsoft Outlook, Microsoft Office, Google Docs, and Salesforce
Mobile access from tablets and smartphones
Access via friendly web-based UI or desktop file system
Smart – look at Activiti -
Automated workflow—
Replaced complex, manual process with simple, flexible, task-based workflows
Integrated with email for notices/reminders and is auditable across all steps
Advanced, actionable analytics to drive business process improvements
Introducing Alfresco Activiti BPM - Alfresco Activiti provides a highly scalable, Java-based, BPMN2.0 workflow and BPM application targeted at business users, developers, and administrators. Designed to simplify the workflow process while still delivering enterprise-class BPM, Activiti delivers intuitive task management, with mobile access, and simple process execution.
Security – both data security – which we’ll cover in 3rd webinar – but also features like Records Management
Robust capabilities built for ease of use
DOD 5015.02 certified records management
Automated, rules-based lifecycle management
Full audit trail for compliance reporting
Single solution to manage records and other content
Where work in insurance – some of the biggest names obviously – and many others not listed here
As mentioned – alternative to legacy vendors like Kofax & Captiva
What’s Different –
Business Selected
Subscription or Purchase pricing
Eliminate click or page charges
Lower overall solution price
IT Approved
Thin client architecture
Use of open standards
Simple to Install, Train System, Train Users
Match / exceed capabilities of legacy systems
Intelligent Mailroom Automation
Input: scanned documents, email attachments, faxes, uploaded documents
Classify: identify document types in the file WITHOUT bar codes/separator pages
Extract: data from structured/unstructured documents
Deliver: to ERP, CRM, ECM
Zia’s “In-Process Capture” (IPC)
Utilizing Ephesoft Web Services
Embedded into:
ECM (Alfresco)
SharePoint
Portal / Website / ERP / CRM
Delivered within workflow / business process
Accelerate Mobile Capture
Based on Ephesoft Mobile SDK
Mobile Classification & Extraction
Mobile IDC Administration
Constituents to Field Reps
Save Time, Save Money
Lexmark – “accurately extracts critical information from hard copy documents without having to rely on barcodes, templates or keywords. The solution validates the extracted data and passes it to claims processing systems or other applications”
Reduce costs, improve customer service, decrease errors
So let’s see what this looks like for one of our customers – as noted - Baldwin & Lyons specializes in insurance for the transportation industry. Through its many property and casualty insurance companies and brokerage firms, the company accepts risks covering more than a dozen different specialty products and services.
After years of growth recognized need to address number of issues:
Very paper based, manual – recognized need for new solution for digital imaging including classification & extraction
Content silos – had created mainframe based solutions over years, resulting in six different policy admin systems, billing systems, and claims system
Access – legal team to access claims documents, had to actually ask someone in claims – wanted a single system of record that all could access who needed
Baldwin & Lyons Insurance
Solution
Ephesoft for Intelligent Classification & Extraction
Established Alfresco as an “ECM Content Hub” & Activiti BPM
“Virtual Repository UI” for access to Legacy / Core Systems
So let’s see what this looks like for one of our customers – as noted - Baldwin & Lyons specializes in insurance for the transportation industry. Through its many property and casualty insurance companies and brokerage firms, the company accepts risks covering more than a dozen different specialty products and services.
After years of growth recognized need to address number of issues:
Very paper based, manual – recognized need for new solution for digital imaging including classification & extraction
Content silos – had created mainframe based solutions over years, resulting in six different policy admin systems, billing systems, and claims system
Access – legal team to access claims documents, had to actually ask someone in claims – wanted a single system of record that all could access who needed
Baldwin & Lyons Insurance
Solution
Ephesoft for Intelligent Classification & Extraction
Established Alfresco as an “ECM Content Hub” & Activiti BPM
“Virtual Repository UI” for access to Legacy / Core Systems
Was average of 7-8 hours (say 8 hours) from time documents arrived until a claims adjuster could work on them, now down to 15-20 minutes (say 15 minutes)
"Revolutionize" the business - didn't change, transform
Single system of record - previously if legal wanted to see claims docs, had to request access to claims management system - now access direct, original docs in Alfresco - as does claims through CMS
Zia’s ActiveMigrate to move 10 Million Documents from Legacy Systems
Roadmap for SharePoint and Email Integration
“We thought pulling off a cultural change was going to be a challenge, but it turns out, once you get people engaged and excited about something, they trigger the change and you don’t have to drag them along. Today, change is a way of life for people we didn’t think it would be easy to convince to change at all”
– Brian Gray, Managing Director of Application Development, Baldwin & Lyons
Look at a really simple demo of auto claims process – starts with…
Individual has just been in a accident, where other party at fault – and so contacting that parties insurance company
Called into them – and advised need to provide drivers license, proof of insurance card – and photos of accident
Show process where email created and sent to individual, and how documents and workflow managed from there
Using Ephesoft to classify all inbound documents, determine document types, and as you’ll see whether any missing documents
End – if time – show the approval process
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:
Citizens – Property Insurance in cat prone area – as discuss in the case earlier – realized many of claims costs came prior to interaction w/ claims management system
Global Insurance Holding Co – P&C, Life, Life Reinsurance – ephesoft to address paper problem in claims processing
Across your organization
Applications to claims
But also contracts / ap – as discuss in next webinar – or even HR
Also discuss in next webinar – Policy issuance, legal – document assembly – partner who works with many of the largest legal organizations in ther world
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
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 couple of webinars
With 3rd one covering both internal data security but also what to look at when providing cyber coverage
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 couple of webinars
With 3rd one covering both internal data security but also what to look at when providing cyber coverage
Across the industry – case studies:
Citizens – Property Insurance in cat prone area – as discuss in the case earlier – realized many of claims costs came prior to interaction w/ claims management system
Global Insurance Holding Co – P&C, Life, Life Reinsurance – ephesoft to address paper problem in claims processing
Across your organization
Applications to claims
But also contracts / ap – as discuss in next webinar – or even HR
Also discuss in next webinar – Policy issuance, legal – document assembly – partner who works with many of the largest legal organizations in ther world
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