Insurance Solutions can help you:
Thoughtfully manage information, no matter the source
Improve compliance programs and gain business efficiencies
Accelerate digital transformation
Insurance Solutions can help you:
Thoughtfully manage information, no matter the source
Improve compliance programs and gain business efficiencies
Accelerate digital transformation
How Iron Mountain can help transform your Insurance Services
With the digital transformation happening in the industry, there is more transparency and customers can compare insurance quotes online in minutes.
To streamline the customer experience and reduce the costs of doing business, automation is key. Automation can help to improve accuracy, reduce the time needed to extract information and improve efficiency and eliminate human error. It also gives insurers time to focus on the customer and not the process.
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Customer Success in Insurance
The insurance industry is evolving with new digital-first innovators coming onto the scene, and established firms are looking to evolve by digitally transforming their paper-intensive processes. Often, information is scattered across different systems that don’t communicate or speak the same language; this creates delays, and the lack of uniformity and automation slows things down. Iron Mountain can help insurers digitize paper forms and processes, and unlock the value of the data to become more efficient and reduce costs.
Insurance Use Cases
Challenge:
A major Property and Casualty Insurance company looked for a way to enforce compliance though an Enterprise-wide clean desk policy within their Claims, which was still operating on paper-based manual processes. The solution needed to demonstrate measurable, hard dollar cost savings. Secondary objectives were to improve efficiency, decrease turnaround times, improve customer experience, and decrease carbon footprint.
Capabilities:
Iron Mountain provided a solution to transition from paper-based, open shelf, manual processing of property and casualty claims to a digital mailroom and front-end image-enabled automated workflow. This included secure electronic delivery of select, validated information to third parties. Implemented with a multi-phased rollout.
Value Prop:
- Met compliance goals
- Saved $1.5 Million
- Improved SLA by 24 hours
- Eliminated printing of 5 million pages per year
Solutions to Help:
Challenge:
A New York based life insurance company was looking for a solution to improve access to their highly valuable commercial client files, while minimizing risk. These files were highly active with many individuals accessing them over time. As a result, they had a high occurrence of misfiles and lost documents. There was also no disaster recovery copy of these documents in the event of catastrophic event, such as a fire or flood.
Capabilities
Iron Mountain provided a back-file conversion solution including scanning and digitizing the documents for storage in the customer’s enterprise content management system.
Value Prop:
- Ready access to information anywhere in the organization
- Tools for employees to follow through on obligations
- Formatted information reduced lost/misfiled records
Solutions to Help:
Challenge:
A major US insurance brokerage firm was struggling with developing a digital mailroom solution that could be delivered in a timely fashion and provide real world savings and value. After the recent merger with another firm, they were faced with a major pain point of finding a way to access their policy checking services.
Capabilities:
Iron Mountain re-routed the contents of P.O. boxes to a central location, where a team picked up and processed the mail by scanning, classifying and completing data capture. Digital mail could then be re-routed for approvals or exception processing, and the customer was provided with a centralized database to access mail worldwide. The solution provided a formal needs assessment and collaboration on the Statement of Work, which led to a successful project.
Value Prop:
- Eliminated paper
- Improved chain of custody
- Tighter SLA
- Cost Reductions
- Enhanced user experience
- Environmental benefits
Solutions to Help:
Challenge:
After a workers' compensation insurance company evaluated their data center’s infrastructure, maintenance and operating costs, and the limited ability for the facility to support redundant power without significant cost and effort, their Informational Services group found the data center to be outdated and inefficient.
Capabilities:
The company increased security, redundancy, power, connectivity and reliability. The colocation data center scaled to meet shifting needs, even post-contract signature. Greater energy efficiency also led to greater cost efficiency than staying in-house.
Value Prop:
- Security
- Risk Mitigation
- Cost Reduction
Solutions to Help:
Featured Insurance Solutions
Information Management
Digital Transformation
Related Resources
Contact Iron Mountain
Our Customer Support section can help provide you with the quickest answers to your questions, or feel free to contact us at your convenience.
Contact Iron Mountain
Our Customer Support section can help provide you with the quickest answers to your questions, or feel free to contact us at your convenience.