New Business Processing Case Management | Document Management Solutions
What Does New Business Processing Entail?
New Business Processing in insurance companies involves a few different steps, including the initial application and supporting documentation gathered and submitted by the client and the agent, the review of an underwriter that evaluates the risk associated with the policy, and then the steps necessary to enroll a new client. The application process may be complex and may take several communications with the agent/client to get all necessary information so the underwriter has what they need to do a thorough review.
Increases Capacity of New Business Processing for Property & Casualty with OnBase
Property and casualty new business processing is a manual and monotonous process. With the help of our business process consultant’ expertise and focus on “process first”, paired with OnBase’s property and casualty insurance software for new business processing, you can automate this process.
OnBase is a single enterprise information platform for managing content, processes, and cases, combining ECM, case management, business process management (BPM), records management and capture functionality on a single platform. Content managed by OnBase includes paper and scanned documents, electronic forms, cases, emails, photos, videos, audio, data streams or even screen shots. OnBase can integrate directly to any existing New Business systems to help you streamline this process even more.
OnBase captures your application process electronically, regardless of file format, and gives you instant visibility into a customer’s policy or claim. It also seamlessly integrates with line-of-business applications allowing underwriters to access the information from within a single familiar interface. Never miss required supporting documentation again. OnBase can automate requests with Workflow Automation to ensure your MVRs, credit reports, D&Bs, etc. are all accounted for.
As a result, your property and casualty new business processing becomes quicker, increases positive cash flow, and improves service level agreements. This electronic process yields immediate results with some insurers reducing the employee head count to process new business and decreasing the time to complete new business processing by days.
Implementing OnBase as your new business processing software can help Property & Casualty insurers:
- Create visibility into your policy and claims processing
- Grow the company without adding staff
- Contain costs and increase profits
- Meet agency and customer needs more easily
- Increase speed to market
- Decrease processing time for applications