CLEVELAND – June 4, 2013 – This year’s ACORD LOMA conference focused on how insurers can better deliver superior customer service. The customer-centric theme was present throughout the show, including the VIP award ceremony, hosted by Insurance Networking News and Celent. Representatives from both organizations went through more than 400 responses to collect data and analysis on technologies that help insurance carriers set themselves apart. Mutual of Enumclaw, a Hyland Software customer for 7 years, was named a runner-up for the VIP award for its use of OnBase’s ACORD Processing Solution to expedite new business processing and reduce underwriting expenses.
The VIP awards recognize technology solutions that provide real, measurable value for insurance customers. Award nomination results show that insurers continue to place high value on solution providers’ business integrity, industry expertise and customer service. For MOE, the OnBase ACORD Processing Solution has helped the insurer spend less time manually entering data and more time focused on the customer.
“We expanded our OnBase solution to automatically capture and index ACORD forms as well as support the new business, endorsements and cancellations processes,” said David Wilson Mutual of Enumclaw’s Chief Information Officer.
Prior to implementing the ACORD Processing Solution, MOE’s new business in personal lines underwriting took too long and managers didn’t have visibility into the process. “It was difficult to balance staffs’ workloads because managers didn’t know the status of incoming work,” Wilson said. “Our new solution provides greater transparency into work distribution among our raters and underwriting staff. We not only eliminated paper, but also have faster retrieval into policy information which helps us deliver improved service.”
MOE estimates the OnBase ACORD Processing Solution has helped the insurer save more than:
- 600 hours a year for raters writing file folders
- $11,500 annually in folder costs
- $670 annually by eliminating paper
By implementing enterprise content management (ECM) solutions insurers accelerate business processes and deliver better service. “Automating the capture and indexing of standard ACORD forms, MOE has a seamless, totally hands-off solution that reduces costs, expedites new business processing and increases responsiveness to make them more competitive in the industry,” said Ruth Fisk, Hyland’s senior business analyst for insurance.
To learn more about Hyland’s solutions for insurance visit www.hyland.com/insurance.