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INVU Document Management System
| Reference Site: |
The Insurance Partnership |
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Armagh - 35 staff |
Is Efficiency Optional?
Insurance brokers pride themselves in being able to offer
their clients a long term, professional, and yet personal
service over a considerable range of products. However, like
many of their clients, they are faced with the challenge
of doing it more efficiently and profitably in today's increasingly
competitive, regulated and electronic marketplace.
Computers are now commonplace in Insurance Brokers, and
in their clients, and in the various insurance companies
with whom they communicate daily. As a result, brokers have
to deal with multiple sources and formats of information.
Yet core client information and internal administration
data are generally still managed using print-outs which are
stored in manilla folders. These print-outs are sourced from
paper policies, correspondence & notes, and from electronic
files such as e.mails word processed documents, spreadsheets
and specialist application software such as Misys.
Increasingly, brokers are storing their information in several
discrete systems and, as anyone who has tried to keep two
diaries knows, this could not be described as 'best practice'!
Information is held in manilla folders, on computer servers
and on a myriad of PCs throughout the premises. Indeed, staff
often use their own systems for naming files and folders
on their PCs, making comprehensive retrieval difficult, particularly
during absences from the office.
One Invu client has said "95% of our information is
looked at only once, yet we paid to print it off our computers,
we paid for storage space to house it and we paid for staff
to retrieve it. Further, current files were not always to
hand when a client called, and this caused delays and costly
call-backs to clients.. It simply didn't make sense any more
to have so much of our information on our computer and yet
have to depend so heavily on paper print-outs."
Stress, it is said, comes more from work we know we have
to do in the future, rather than from the work we are doing
now. A broker's day can be made more acceptable if his systems
reduce 'the number of balls he has in the air' at any one
time, by enabling all the information he requires to be immediately
accessible.
Allan Leighton, current Chairman of Royal Mail Group plc
and past CEO of Walmart-Asda, has said that "being successful
in business is no longer about being the biggest, or the
best, or even the first. It is about being quickest, in every
area of a business".
INVU is a product that is ideally placed to help insurance
brokers overcome these challenges cost-effectively within
their practice.
Core Benefits of INVU
The following testimonials are not hard to believe and speak
for themselves.
"We were already scanning some of our paperwork but
we really needed a more integrated approach. We saw Invu
at a Misys Roadshow and after visiting a reference site in
GB, and talking to our local Invu Partner, we decided to
go with Invu"
"We particularly liked the way Invu made all our files
available across all our departments, and we liked the disciplined
and structured approach it brought to our work-flow. As time
went on, we also came to appreciate the audit trail it keeps
of file usage and amendment."
"When a client phones me, I can immediately access
all his documents on my computer, and deal with the issues
raised, without involving anyone else and without having
to phone him back"
"If our premises had a fire, we were going to be in
trouble. Now we have multiple security copies of everything,
including the contents of all of our PCs which we back-up
on our network."
"Frankly, we are just more organised. I can see everything
in our practice on my PC and I can see what everyone is doing."
"Our industry is rapidly becoming more electronic in
every way and we didn't want to get behind in our use of
computer technology Most major Insurance Companies are expecting
higher standards for retrieval of documents and may eventually
move to electronic audits. Invu makes us more prepared for
them. "
How INVU Works
Invu captures all paper and electronic documents received
by or issued by the company. These documents can then be
viewed on a computer screen and printed as hard-copy if required.
Paper documents are captured by running them through a scanner.
Modern scanners are inexpensive and fast and they can accept
single or multiple sheets. Electronic documents produced
by application software, such as invoices, are captured electronically
(without scanning) and PC produced documents, such as Word
documents and notes, tax computation spreadsheets, web pages,
powerpoint presentations and e.mails are also captured electronically.
Faxes can be captured electronically or by scanning.
All captured documents are initially entered into designated
'in-trays'. From there they can be classified on-screen as
to their 'cabinet, drawer and folder', as in a manual filing
system. Document retrieval is then achieved by going to the
appropriate 'cabinet, drawer and folder' if these are known,
or by searching on key words.
Retrieved documents can then be edited or revised on screen
and re-filed, with strict version control and no loss of
previous versions. Invu is designed to be tailored to meet
individual priorities and company cultures.
The Installation Process
While Invu does not require special computers, The Insurance
Partnership took the opportunity to upgrade their workstations
and server to provide a solid platform. Hardware is no longer
the major cost in new business solutions, so it is generally
wise to 'over spec' and 'future proof' in this regard. The
old saying that 'the cost of success is usually less than
the cost of failure' applies.
An appropriate senior administrator was allocated the responsibility
for managing the installation, maintaining the system and
interfacing with their Invu Partner.
Careful thought was given to how documents were to be categorised
and indexed, before scanning or other inputs were commenced.
The existing methodology was used and developed, and an experienced
Invu Partner gave advice to get the best results.
Staff training was completed easily on site. Since all staff
would eventually need to know the system, they decided that
some staff should be trained as trainers.
Installation has been achieved gradually, department by
department. The Insurance Partnership started with its 'Life'
department, followed by its 'Commercial' department and then
by its 'Personal Lines' department. To begin with, current
documents were transferred to Invu. Archive files were first
pruned and then entered into Invu by junior staff as time
permitted.
A programme of early and regular testing of data back-up
and recovery enhanced staff confidence in the system. Staff
sometimes prefer to know that originals are still available,
during their learning period, before they are shredded. Once
they become used to instant retrieval on screen, few staff
volunteer to return to the previous manual system!
Insurance Brokers can take comfort from the fact that Invu
Partners are specialists in document management in a variety
of industries. They don't stop at initial installation, preferring
to monitor new clients' use of the system to provide feedback
for their 'continual improvement process'. There is no danger
of a 'sell and run' approach.
Insurance Brokers have also found that there are substantial
core benefits to be derived from an INVU document management
and retrieval system. In addition, there are many 'nice to
have' features.
'Nice to Have' Features
Invu clients tend to notice they are photocopying less and
they are interrupted less. Their staff workstations look
less cluttered and more efficient when clients come to visit.
Staff utilisation improves, freeing up time for more productive
hours.
Brokers in high-rent, or high-wage areas, or in architecturally
sensitive buildings, find Invu gives them more cost effective
options as they grow. Re-location of a practice should be
a lot easier. Further, some Invu clients feel that an electronic
repository of managed client data adds value to their practice.
Other Cae Studies - Accountants
For more information on any of the INVU products please call
or e-mail to arrange
an appointment or for details of and to book onto one of our
Free INVU Seminars pleae click
here.
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