Creation of a litigation file is time consuming and costly to prepare. Quite often there is a very short timeframe in which the file must be prepared and carefully reviewed by legal staff before sending it to opposing counsel. As litigation cases increase, so will the need for insurers to look for solutions like OnBase, which, when deployed across the enterprise, will reduce the effort required. Once a file is requested for litigation, a copy of the file can easily be published to a CD or DVD or ShareBase by Hyland to speed processing even further.
The retention and disposition of both policy and claim documents can be critical, as well as potentially damaging to an insurance company. Often the liability risk is even higher if you retain information beyond the required legal retention period. If the documents are not properly disposed of according to the company’s corporate retention policies, the court could require that the document be made available within the litigation suit.
OnBase provides the ability to manage the retention of documents within the system to ensure proper adherence to corporate policy. The OnBase audit trail also provides the ability to demonstrate that the corporate retention policy is in place and to establish that standard operating procedures are being followed to adhere to the policy.
Costs can be considerably reduced by eliminating fines and costly court judgments when retention policies are not in place. The ability to recreate a run time version of OnBase and publish a claim and policy file to a CD and DVD can also help to avoid considerable costs and resource time needed to manage litigation files.