Document Management for the Insurance Industry

Improving Document & Claims Management for the Insurance Industry

Insurance agents have to manage a significant amount of paperwork every day. Insurance claims, new applications, and documentation for the multitude of insurance policies available can make managing the paperwork a challenge. That’s where insurance document scanning and management services can help!

Electronic document management can automate your processes, optimize workflow, reduce expenses, and improve the way you interact with your clients with the right program for your needs. With automation, insurers improve accuracy and eliminate human error. Record Nations has experts in your area who specialize in providing services to the insurance industry. From claims to new applications, we can help your office go paperless and eliminate the headaches of paper documents forever.

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Service Options for Insurance Agencies

Document Scanning Services

With digital documents, insurance companies can optimize their processes, substantially lower expenses related to physical storage, and speed up the retrieval of information. The capacity to effortlessly retrieve, search, and exchange digitized documents fosters teamwork, quickens the handling of claims, and ultimately, enhances customer satisfaction. In an ever more digital environment, insurance experts can adeptly navigate their responsibilities with enhanced flexibility.

Document Storage Services

Insurers must pay close attention to their document management process to maintain compliance and properly manage contracts, accounting files, legal filings, and personnel files. An effective document management system (DMS) protects your company with data organization, transaction records, and increased productivity. You will be able to search and edit any document quickly and easily in a DMS as well as increase data security.

Document Destruction Services

To protect your business and client data after you have scanned your files, you can have the documents securely shredded. We have mobile shredding options where you can even watch the shredding to ensure complete destruction and compliance. We also offer off-site shredding where your documents will be picked up and shredded at a secure facility. To protect your data even further, we can also destroy your hard drives when you plan on upgrading your technology.

How Document Management Can Help You Excel in the Insurance Industry

Optical Character Recognition and Data Extraction

OCR gives you the ability to search and index every aspect of your files with a quick keyword search, eliminating mistakes and improving productivity. If you need to adjust a policy, there’s no need to make the changes in a hard-copy document. Utilize Optical Character Recognition (OCR) and data extraction to give you the ability to edit any information you need quickly and easily.

Automated Document Routing and Billing

Would you like the ability to have a digital document routed to the appropriate department or policyholder once it’s submitted into the system? Our local providers can add that capability to your document management process to eliminate the risk of the information getting lost, which creates delays and headaches.

Document Conversion for Business Records

As you make the transition to paperless, you’ll have the ability to eliminate costly and time-consuming paper processes. Record Nations finds experts that take the time to help your organization reduce operational costs, improve patient care, automate hard-copy processes, and ensure HIPAA compliance.

Accounting files, personnel files, and critical or commonly-used forms can all be converted and added to a document management system to help streamline your processes and eliminate all the paper in your office.

Privacy Regulations for Insurance

The Identity Theft Penalty Enhancement Act

The Identity Theft Penalty Enhancement Act modifies the Federal criminal statute to institute consequences for heightened identity theft involving the misuse of personal information. Those apprehended and found guilty of identity theft will face imprisonment ranging from 2 to 5 years.

Red Flag Rules

The Red Flag Rules mandate that both dealerships and financial institutions develop a documented program for thwarting, identifying, and alleviating identity theft. The goal of the Federal Trade Commission is to foster a program that empowers businesses to identify questionable trends and avert the financial repercussions of identity theft.

Health Insurance Portability and Accountability Act (HIPAA)

HIPAA was implemented to safeguard the permissible usage and disclosure of patients' health information. It oversees the confidentiality of Protected Health Information (PHI) as well as the secure obliteration of both physical and digital records. Any violations of these regulations may result in penalties, potentially as high as $1.5 million.