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Insurance Data Capture

Insurance

Make document driven insurance processes more efficient, accurate and cost-effective. Digital accessibility allows records to be found at every branch every time, reducing the time spent entering in claim forms and applications manually.

Insurance Document Problems

When disaster strikes, insurance companies must react swiftly and provide assistance to individuals and businesses when they are most vulnerable.  Document driven business process automation solutions from Kofax help them access records quickly and pay claims promptly, pleasing policyholders and providing a key differentiator over companies still mired in a world of paper.

Insurance companies have a wide variety of special requirements:

Insurance Document Capture
  • Compliance with regulations issued by each state’s Department of Insurance
  • URTT compliance
  • NAIC uniform product coding
  • Long-term storage of records that may not be accessed for decades until a claim is filed
  • Conversion of deteriorating paper records

  • Medical claim forms, such as CMS-1500 and UB-04


Insurance Document Solutions

Kofax products are used in a wide variety of solutions for insurance companies, enabling:

Insurance Document Management
  • A commercial property insurer to shorten claim processing time from 5 days to 12 hours, and achieve a complete ROI in 9 months
  • A supplemental insurance provider to process an unexpectedly swift ramp of 7,000 claims a week
  • A life insurance firm to convert 25m paper documents, some over 50 years old, to digital images
  • An auto insurance firm to incorporate before-and-after color photos of customers’ cars into digital policy claim records
  • A travel insurance firm to scan and index 25,000 documents each month
  • A workers’ compensation insurer to eliminate paper entirely from its claims processing system

Interested in how Kofax can save you time and money in managing your insurance document needs? Please read our case studies or contact us to learn how Kofax can develop a solution tailored for your insurance organization.