Data Management and Storage for Insurance Companies
Insurance companies deal with a lot of Personally Identifiable Information (PII) and thus are required to maintain strict data management procedures to ensure that data is secure and compliant. The good news is, because of a strengthening economy, the demand for home and car insurance is booming. This also means that competition is fierce, as more and more online insurance carriers enter the market. As such, it is more important than ever for insurance companies and brokers to ensure their costs stay low so they can remain competitive.
Lower Storage Costs, Improve Efficiency
DocuLynx can enable you to reduce your costs through improved workflow automation, and better data management procedures. Our DocuSuite solution can help Insurance companies analyze their data, classify what data needs to stay in Tier 1 storage, what data must be stored in a secure archive, and what data can be destroyed. We also ensure your information is kept on the appropriate compliance schedule.
In addition, we can help you improve workflow automation, from HR processes and payroll to claims approval processes and more. We keep your organization running smoothly.
Secure, Compliant Policy Management for Insurance Companies
Do you know if your policy is applied consistently across the organization? Insurance companies not following this regulation can end up in a costly mess. But DocuLynx can ensure that anytime your policy is changed in one place, it will be uniformly changed. This means you can easily prove compliance. This is important for two reasons – both from a cost and perception standpoint. By not doing so, your organization could not only face big fines but take a hit in confidence in the market and potentially lose market share.
Contact DocuLynx to see how we can help your insurance organization remain compliant, and improve your bottom line.
Related Link: Insurance Document Management