Penn Independent Corporation Licenses DocFinity Solution to Improve Underwriting and Brokerage Processes
March 23, 2004 – State College, Pa. – Penn Independent Corporation, a privately held insurance holding company headquartered in Hatboro, Pa., has selected Optical Image Technology, Inc.’s (OIT) DocFinity Suite of Products to replace paper policy files in the underwriting and brokerage units of the organization.
The implementation, which began in February 2004, focuses on integrating the DocFinity solution with Penn Independent Corporation’s policy management system for the indexing and retrieval of documents. After the pilot installation is completed in the organization’s home office, Penn Independent Corporation plans to continue rolling out the technology to its nine satellite locations.
Jason Waksman, Vice President and Chief Financial Officer of Penn Independent Corporation, comments, “We feel this is the right time to address our document management needs due to a combination of reasons. We’re seeing more and more of our colleagues, customers and providers moving to document imaging as the insurance industry tries to automate paper flow. The DocFinity Suite will help each niche in the insurance chain communicate with each other in a more expedient and efficient manner.”
By leveraging the DocFinity Suite in its processes, Penn Independent Corporation will streamline and simplify paper intensive processes through electronic file storage and retrieval. The DocFinity Suite will also enable users to access files regardless of geographic location and provide more effective means of disaster recovery methods.
Penn Independent Corporation selected the DocFinity Suite based on functionality requirements, as well as specific technical requirements related to a centralized indexing database and integration with the existing policy management system. Waksman adds, “Several solutions met our functional requirements, but DocFinity’s open architecture stood out amongst the competition.”
For more information regarding the solutions DocFinity offers the insurance industry, please visit www.docfinity.com, or contact Marketing at marketing@docfinity.com or 814-238-0038.
About Optical Image Technology, Inc.
Since 1986, OIT has been developing award-winning integrated document management solutions, including COLD-ERM/EBPP, Document Imaging, Workflow/Process Management, Browser Access/E-Business Enablement, HSM, Print/Fax Server, and Enhanced Index Extraction. OIT’s DocFinity Suite of Document Management Solutions has gained prominent industry recognition by organizations such as AIIM International, Transform Magazine, Doculabs and Kinetic Information.
OIT serves customers throughout the world and across all major industries, including insurance, financial services, pharmaceutical, education, healthcare, government, manufacturing, retail, utilities and publishing. By dynamically coordinating and managing the transfer of content, OIT enables organizations to realize increased profitability, improved productivity and enhanced customer satisfaction by empowering enterprise wide business processes. For more information, please visit www.docfinity.com.
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Release Date: March 23, 2004
