Insurance Solutions: Becoming the Carrier of Choice

Video Transcript

Insurance Solutions: Becoming the Carrier of Choice

Hi, I'm Charlie Hanna, Senior Insurance Manager for Europe and Africa at Hyland Software.

Insurance companies are working hard to become the carrier of choice for their broker and agent network. Now, one of the ways is by quoting and issuing business faster and more accurately than their competition.

As we know, submissions come in many forms -- from email, fax, and paper to maybe even data exchange through things like a court XML. What's consistent across all of those different forms is that someone has to review the application before it gets the underwriter.

This could be for things like reviewing for completeness, as well as making sure the appropriate underwriting evidence like driver's records and property inspections are in place. There is also the task to manually create and name an application folder, fill out a checklist for that folder, and file all the associated paperwork.

At this point, the quote can be set up in the policy admin system, but it still needs to be figured out who is actually going to be assigned this work, and eventually get the information to the underwriter. It's a lot of steps to just get the submission to the underwriter.

What OnBase does is automate that whole entire process.

Outlook Integration Provides Greater Efficiency

From reviewing for completeness to looking for supporting underwriting information to creating the application folder, that's all done by OnBase. Right when the submission comes into the mailroom, an email notification can be sent directly to the underwriting assistant, so they know they have work to perform.

OnBase integrates directly into Microsoft Outlook so when the underwriter logs into Outlook, they have a notification saying they have a new submission to review. OnBase is built directly into the Outlook user interface. You can actually access workflow tasks directly from inside the Outlook application. Once users select their workflow tasks, they're able to see the work assigned to them directly inside Microsoft Outlook.

Even more importantly, they can access all of the related documents tied to the application, as well as a copy of the application itself. Once they've reviewed the application for completeness, making sure it has all of the correct information, they can set it up within the policy admin system. Once this is complete, directly inside Outlook, they have the ability to navigate over and mark that item as complete. At that point, it is automatically and electronically routed to the assigned underwriter.

Now, what OnBase does is use your organization's guidelines and business rules to automatically route the work to the appropriate underwriter.

A More Productive Workflow

When the underwriter comes into work for the day and opens up their computer, they have an electronic inbox with all of the work that is assigned to them, be it an application that just came in the door or maybe a change request or a diary item that has come up for review.

They have the ability to access their inbox, open the application and view the checklist that was generated automatically by OnBase. At the same time, they can see all of the tasks that were assigned to them, be it quoting the application, to issuing a declination letter to creating a diary item. As well, they can review all of those related items that came in with the application, be it the supporting documents, be it the underwriting evidence, etc. More importantly, they can also see what items are missing as part of that submission.

What OnBase has been able to do is get the work to the underwriter as fast as possible, which enables them to quote and issue new business faster than the competition while still adhering to the underwriting guidelines to become the carrier of choice.