In today’s fast-paced business world, efficient content management is crucial for companies dealing with a large volume of data. Insurance companies, in particular, have to deal with a vast amount of information, from policies and claims to customer data and compliance documents. Ensuring seamless access, organization, and security of this data is paramount. This is where Enterprise Content Management (ECM) software plays a pivotal role.

Join me on a journey as we explore how an informal meeting unexpectedly led to the solution of a significant content management problem for an insurance company.

So, I was traveling to Dubai with a twin agenda – a high-stake client meeting and a close friend’s birthday party (also high-stake). On the eve of his birthday, I bumped into Glenn, a senior officer from a leading insurance firm in the region.

Glenn’s struggle with content

Glenn and I engaged in a long, candid conversation about the trends in the insurance industry and digital space. While Glenn was optimistic about the digital transformation of insurance processes, he possessed limitations when it came to managing content.

Glenn’s reluctance stemmed from the fact that despite using a content management system, his teams struggled while working on cases involving a vast flow of documents. They faced high turnaround times and a lack of collaboration and could not access the content at their preferred location and time. Put simply, they lacked an appropriate ECM solution.

While listening to his story, I had a smile on my face as I knew that I had the perfect solution for him. I did not say anything then but requested a meeting in his office the next day to learn more about the problem.

Decoding the insurance firm’s challenges and solutions

On my visit to Glenn’s office, he introduced me to Karl, the Operations Manager at the firm. Karl was working on a claims process at the time. Based on my conversation with Karl and the time I spent with him, I gained a solid understanding of how Karl went about his work and the challenges he faced:

Content Access

Karl gathers all the documents relevant to the case. These are large, complex documents present in multiple formats, including contracts, memos, videos, MS Office files, and more, located in disparate locations.

Karl needs an interface that allows him to access all the content in context, including large and complex documents, images, audio, videos, MS Office files, and emails as and when required.

Document Discovery

Karl jumps through folders to locate the required document in the system. He also scrolls through documents to search for notes and comments marked at previous and subsequent stages.

Karl needs a search tool that lets him locate desired documents quickly and easily with advanced filters that narrow search results. It should allow tracking of all highlights, comments, and annotations within a document through a dedicated annotation search tool.

Document Operations

Karl makes notes in those documents, marks points in the videos, writes down assessments or recommendations and invites his colleagues and other agents to put down their notes.

Karl needs a comprehensive suite of operations that enables him to capture and classify documents, annotate content, including audio and video files, compare documents by synchronous scrolling and highlight differences, save PDF renditions, and more.

Enterprise-wide Collaboration

Karl collaborates with several stakeholders for a case. He requests legal advice or a specialist review of the entire set of documents. He also seeks final recommendations and approvals by sending case files to supervisors.

Karl and his colleagues need a solution to smoothly collaborate on cases by adding/modifying notes and putting comments on documents that can be easily discovered by others. The solution should facilitate real-time collaboration through video calls on MS Teams and Zoom

Customer Communications

After making several changes, combining, or splitting documents, Karl generates and sends communications to customers, claimants, and regulatory authorities

Karl needs a tool to easily generate customer-facing documents using pre-defined templates that comply with the company’s branding guidelines. It should allow him to communicate effectively and quickly with customers through templatized e-mails

Security and Control

Karl must ensure that the security and confidentiality of documents and information remain intact through enforcement of pre-defined policies, user access control, and redaction of sensitive data from documents

Karl and his colleagues require a system that ensures rights-based access to content based on the user group, role, and privileges. It should allow retention policies for long-term content archival to ensure information security and compliance

It doesn’t end here

I was able to break down the challenges faced by Glenn and his firm and suggest solutions for them. Before telling Glenn how Newgen’s Enterprise Content Management (ECM) software could tackle the firm’s current challenges, I asked myself –

Is it just Glenn, Karl, and their organization?

Are these issues limited to the insurance industry only?

It’s a clear NO!

Whether you’re an insurance company or a bank, unstructured or legacy content management systems often weigh down on employees’ productivity and hamper overall efficiency. Your enterprise needs a content management solution that allows users to access and manage case-related content from a single place, empowering them to collaborate and work on any case with speed and efficiency. This is where Newgen’s Enterprise Content Management comes into the picture.

Newgen’s ECM solution allows you to do all of this and more with its end-to-end content management capabilities. Glenn implemented Newgen’s ECM software and streamlined content management with end-to-end automation of the content lifecycle, resulting in improved workflows, efficiency, and productivity. And I know, like Glenn, there are many others who are facing similar challenges. If you are one of those, Newgen’s ECM can be the ideal solution for you.

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