New Xerox Workflow Solutions Automate Paperwork & Process Burdens in Insurance, HR
Tuesday, November 17, 2015
The insurance industry and human resources departments share at least one thing in common: Both are data-heavy environments that include a number of time-consuming, manual workflows.
Xerox has announced solutions to automate and simplify those processes. For insurance companies, it means faster claims and new business processing. HR departments can speed the management of employee paperwork and data such as tax forms, and policy and procedures administration.
"The new offerings are the latest examples of how we help organizations better serve their clients by relying on Xerox's automation and workflow expertise," said Mike Feldman, president of large enterprise operations, Xerox. "We help enterprises eliminate antiquated, inefficient document management systems, often the source of customer and employee dissatisfaction."
In the insurance industry, growth can be stifled by labor costs, client satisfaction issues and compliance challenges that can occur with inefficient workflows and manual handling of claims information.
Xerox's Workflow Automation Solution for New Business Processing makes the underwriting process easier to navigate by organizing all business and customer data in one application, saving employees hours of time each week on tasks like fact-checking existing claims information. Leveraging the new solution, customer inquiry calls can now be resolved on initial contact — improving customer satisfaction and diverting employee resources to other high-value work.
If an insurance agent has immediate access to the data and paperwork exchanged between the company and a potential customer, the onboarding process becomes much quicker for new policyholders.
The Xerox Workflow Automation Solution for Claims Processing integrates with common claims handling systems, such as LifePro and home-grown AS400 mainframe systems. This allows companies to store all claims information, like deductibles and accident history, in one central location. Now, insurance investigators and adjusters who often complete field-based work will be able to access documents while away from the office.
The Xerox solution also integrates with financial systems to manage payment schedules, providing better control over the release of funds.
Xerox's Workflow Automation Solution for File Management provides HR staff a secure platform to digitally store employee data for instant access. Whether documents are faxed, emailed or scanned, HR personnel can access data quickly. The solution will also flag missing content within each employee file and automatically send requests to retrieve the information.
Xerox's Workflow Automation Solution for Policies and Procedures Administration creates, digitally distributes and tracks employee acknowledgement of company policies. This is especially helpful when onboarding new employees because companies can eliminate time-consuming, manual paperwork processes.
The industry and cross-industry Xerox Workflow Automation Solutions are currently available in the United States, Canada and Europe.