Insurers are hindered by unmanaged content that is housed in disparate systems, impeding collaboration and overall decision making, and rendering them vulnerable to non-compliance risks, higher legal discovery costs, and failure to meet service level agreements (SLAs). Process controls are essential, not only to adhere to regulatory compliance mandates, but to stay competitive, where “first to underwrite” wins. enChoice offers a solution that help insurance companies expedite processes while reducing resource requirements and overall costs:
- KwikWork 4Underwriting is a rapidly deployable, configurable solution that bridges the gap among IBM FileNet P8 or EMC Documentum and underwriting systems, expediting deployment of processes that span multiple departments. The solution leverages sophisticated business process management (BPM) capabilities to speed the issue and processing of new business applications, facilitate underwriting procedures, and enforce “first call” customer service resolution requests. New business processes can be initiated via standard forms either internally (customer service initiated) or via external facing portlets (brokers, agents and customers).
Benefits include dramatically reduced administrative costs, improved cycle times, increased process visibility, centralized access to all relevant information, and enhanced compliance with Sarbanes-Oxley, HIPAA and other federal and state mandates through the automatic enforcement of information security protocols, and auditing and reporting capabilities.
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