OnBase helps Life insurers increase profitability and productivity
Hyland, creator of OnBase is a leading provider of world class enterprise content management solutions for the Life Insurance industry.
Our solution, OnBase combines integrated document management, workflow management, business process management, and records management into a single application. OnBase manages digital content including - scanned documents, faxes, print streams, application files, electronic forms, web content, multi-media files, emails and industry standard files such as such as ACORD XML.
OnBase also provides organizations with the ability to automate business processes, reduce the time and cost of performing important business functions, improve organizational efficiency, and address the need for regulatory compliance through the management, control, and sharing of digital content with employees, business partners, customers, and other constituencies.
OnBase provides a competitive advantage through streamlined processes, reduced costs, increased internal controls, audit assistance, and improved customer service. Our Insurance solutions enable organizations of many different sizes and characteristics to improve productivity levels by addressing specific document needs within each business area.
We have experience with Life Insurance companies that provide Individual Life, Group Life, Disability, and Wealth Management. Our customers manage high-volume new business, underwriting and claims processing. We understand Policy Administration and Claims Processing systems like LifePro, InGenium, StoneRiver and have integrated with home grown AS400 Mainframe systems. We have experience improving and streamlining the exchange of information with third-party service providers through generation and receipt of ACORD Messaging. We offer integrations with LabOne, MIB and other core service providers.
Our Life Insurance industry expertise is paramount in driving added value to the partnership between Hyland Software and our customers.
OnBase solutions at similar organizations have helped to drive a more than 400% increase in capacity and in many cases have provided a significant reduction in operational costs. A life insurance organization was able to decrease time for new business processing from what previously took seven days down to three days and under by using the OnBase Insurance Solution. Our solutions have given companies the reputations of “faster payer of claims”. We have many examples of these types of real results, many of which were solutions that took less than six weeks to deploy!
OnBase is uniquely developed as a single robust software platform that is built, from the ground up, as a single point-and-click configurable solution. This approach puts the ease of use and design in the hands of insurance companies to minimize outside consulting and implementation costs. By leveraging a single platform approach, standard methodology and sound architecture, insurers can quickly adopt and easily expand the tools to meet their business needs with a service-to-software ratio that is a fraction of that of most enterprise solutions.
With ShareBase by Hyland, insurers can share critical documents such as quotes, policy forms, beneficiary changes, loan requests, commission statements and more with trusted partners like agents, brokers, reinsurers, legal counsel and more to speed processing even further. The natural interaction between ShareBase and OnBase allows you to share those files automatically as part of OnBase Insurance Solutions.
New Business Processing
OnBase New Business Processing solutions help insurers address the increased volume of processing while reducing overtime costs and business cycle times
ACORD Application Processing
OnBase ECM captures data from ACORD forms to make ingesting and classifying ACORD applications a fully automated, controlled practice for life insurers
ACORD Messaging Solution
OnBase classifies and manages the embedded files from ACORD Messaging strings to enable life insurance companies to transact business more efficiently
By integrating with agency portals, electronically distributing information, and automating task assignments and scheduling, OnBase helps life insurers manage important distribution channel relationships
Claims Case Management
With OnBase Case Management, claims examiners easily manage all aspects of a claim, from early assessment to investigation to settlement
OnBase improves claims processing by storing information in one central location and automating tasks like verifying and tracking information
Financial Management – Cash with App Solution
By processing payments faster with the OnBase Cash with App Solution, life insurers reduce new business processing time by three days or more
Life Insurance Legal
When deployed across the enterprise, OnBase enterprise content management (ECM) expedites preparing insurance litigation materials for life insurers
Integration for EXLServices LifePro
The OnBase Integration with LifePro eliminates manual data entry of information.
OnBase ECM expedites the requests for, and receipt of, Medical Information Bureau (MIB) information to speed evidence-gathering processes
Life Insurance Field New Business Solution
The OnBase Open Enrollment Solution allows capture of information onsite, directly from a tablet, to instantly enter an application into the workflow
Life Insurance Product Development
OnBase gives life insurers the ability to efficiently manage work process and implementation strategy so that new products go to market faster