Western Pennsylvania Mutual Insurer: Reaping Rewards with Electronic Document Management

As a mid-sized insurer in western Pennsylvania, this company has always concentrated its business on current customers rather than trying to sell the world on its services. A focus on clients has resulted in strong customer loyalty, a positive reputation in the region, and steady growth during its 128-year history.

Founded in 1881 to provide fire and lightning insurance when no other company filled the need, the insurer has continuously turned marketplace gaps into opportunities. Offering competitive coverage to homeowners, farm owners, and proprietors of commercial properties in rural areas, more than 21,000 current policies represent millions of dollars in premiums and more than three billion dollars in property coverage. Efficiency and service have driven the company’s growth, leading to the acquisition of three regional insurers since the mid 1980s.

Recognizing the challenge

When the current CFO/treasurer was hired, a staff of 15 struggled to manage policies using a colorcoded, paper-based, overstuffed file storage system that resembled a doctor’s office. Considerable time was wasted searching for and filing papers, frustrating customers and agents who needed information and causing workers stress as they scurried through storage rooms searching for documentation and answers.

Realizing the company needed a better way to manage information if it wanted to continue to excel, the CFO began searching for electronic document management (EDM) software to store and manage documents, reports, pictures, and emails. Thorough integration with their existing policy administration software was critical to enabling a seamless flow of information. Since the company had no IT staff, it needed a solution that would be easy to use, support, and maintain.

Finding the right solution

Seeking a vendor with a flexible solution that would allow it to adjust quickly and easily to an ever-changing marketplace, the CFO reviewed several options. The company selected Optical Image Technology (OIT) and its DocFinity software because of the suite’s flexibility, adaptable interface, affordable pricing, and willingness to provide a solution that responded to the insurer’s preferred working style as well as their business needs. By adding functionality within the policy administration interface and providing the support needed to succeed, the insurer quickly and successfully transitioned staff from paper-based to electronic processing.

Preparing staff for change

Since many long-term employees were accustomed to working with paper, the CFO initially had to help staff overcome their resistance to technology. By tapping into DocFinity API Web services and OIT professional services staff, functionality and power were added to the existing policy management system, minimizing the learning curve. Although change was initially daunting for some, fears were allayed as staff realized they could continue working within in their familiar interface. Productivity gains began surfacing quickly, helping staff to embrace additional changes and leading quickly to their success.

Maintaining a strong market position in a weak economy

DocFinity has transformed efficiency by enabling appropriate and timely access to information, helping the company to remain strong despite a weak economy. By using DocFinity to leverage data in their policy management system, employees now make smarter decisions, faster. Workers respond to regulatory requirements and audit demands quickly since business rules ensure consistent data collection and detailed audit trails enable thorough, real-time reporting.

Now, agents request quotes and complete applications online, providing digital photographs of pertinent properties so underwriters can assess risk accurately and provide appropriate coverage. Integration of their policy management system with DocFinity means files and images are captured, indexed, processed, and appropriately retrievable right away. Web-based forms with drop-down menus have improved data consistency and accuracy while decreasing the cost of gathering information. Secure digital storage has eliminated cumbersome and time-consuming file management, enabling 24/7 access for agents and customers submitting paperwork, quicker turnaround in underwriting, and better service. The insurer remains true to its founding vision, engendering long-term loyalty by keeping customers happy.

Whether questions or requests are submitted via email, postal mail, phone calls, or via the company website, they are answered thoroughly and resolved promptly. Permission-based settings enable authorized staff to call up policies digitally, viewing and acting on information within seconds. The results: better security, quicker service, better use of space, and more work processed in less time.

When a hardworking staff member recently retired, previously tedious tasks were automated, allowing the CFO to phase out the position and letting staff stay focused on their work while technology handled the burdens of search and routine processing. In summary, cost-effective processing enabled the insurer to invest more human resources on improving customer service and growing its client base. The company continues to flourish in a competitive environment.

Timing is everything

No one anticipated the weak economy that would follow the CFO’s decision to embark on document imaging and process automation. Fortunately, timely implementation of DocFinity positioned the insurer to be a strong player despite difficult times. As the company continues to evaluate, refine, and automate other processes in the quest for further cost efficiency and better service, the CFO anticipates a bright future. He summarizes, “We are very happy with DocFinity.”

For more information or to schedule a demonstration, please Contact DocFinity now.