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Case Study: Document Scanning and Data Capture
A Major Insurance carrier makes the decision to outsource several business functions and reaps the benefits of an expense reduction.
Challenge
The client was using staff to open all incoming paper applications, scan and capture the data from them and input that data into their software. The client searched for an alternative to utilizing their own staff that would save them money and resources.
Solution
The Berkheimer solution not only reduced the amount of time it took to process applications, it also cut costs associated with this process. Additionaly the client realized increased accuracy of the data entered into their systems.
Results
The insurance company has turned to the expertise of Berkheimer to process their new applications. As a result, the documents are processed faster and more efficiently than in the past allowing the company faster time to issue.
The major Insurance Carrier offers various insurance products to consumers and businesses with their primary focus on property & casualty and life insurance. They sought a partner to outsource the task of taking over all stages of entering their new applications.
Prior to partnering with Berkheimer Outsourcing, this company relied on their internal staff to handle each phase of processing new applications. The client was in need of a complete solution that would handle their mail opening, imaging and data capture & feed services to reduce the processing time for new applications. As an alternative to the manual processing, they ultimately selected Berkheimer Outsourcing as their trusted provider for a comprehensive solution that would greatly improve processing time which resulted in faster new client billing.
Berkheimer implemented a custom solution for the client that began with opening, prep and sorting of all incoming documents for the client. Once opened and prepared, the paper applications are then scanned utilizing Optical Character Recognition (OCR). All of the data is collected from the applications and then sent to the client to import into their system. The original documents, per the request of the client, are then physically stored at the Berkheimer storage facility for 60 days, then upon verification the documents are shredded. The client was confident in the Berkheimer process which was reinforced by the fact that Berkheimer has been SAS70 Type II certified every year since 2003.
“We knew there would be financial savings if we outsourced the scanning and processing of our new applications - we just never realized how much we would be saving”, said the Vice President of Operations.
Berkheimer now processes hundreds of new applications per year for this client. The process has now been streamlined to improve the process efficiency by over 38% in the first year. The efficiencies gained in processing time combined with the reduction in overhead have allowed the client to eliminate a non-core process and to reassign the staff on their central business processes.