Documents are a crucial part of the insurance business. These documents sent to insurance customers are highly regulated with strict guidelines on the structuring of communication to maintain the set industry standards. Insurance document generation or automation needs to be error-free and compliant.
In the US, for instance, the National Association of Insurance Commissioners issues guidelines that stipulate what information needs to be provided and how it should be presented to the insurance clients. One of these guidelines demands that insurance companies design Key Information Documents in the client’s first language, highlighting expenditure and risk of undertaking the investment.
This puts the demand on insurers to:
The process involved in creating insurance documents includes accessing and retrieving data from different systems, risk assessment and calculations as well as cost allocations and then entering the final data into a document template.
Indeed, it can be very time consuming which in effect robs the enterprise of hours that could have been used to carry out other core business activities like selling insurance.
There is a steady rise in the number of insurers turning to document automation to save time and money. With insurance document automation, data is retrieved from different databases within the system and introduce the information into standardized templates. With the elimination of manual data entry, errors can be avoided, consistency is ensured, and money is saved on quality assurance. As a result, insurers can generate documents much faster.
Windward Designer is a feature-rich platform that uses a user-friendly interface to enhance efficiency in the generation of documents.
These features include:
Windward can create a data template using your favorite platforms like Microsoft Word or Excel. This form is then filled using available data in the system. It can create bulk documents and enter the data automatically. This feature saves 80 percent of the time spent creating bulk insurance documents. It will not only generate thousands of documents at a go but also sync to cloud storage, print or email them to respective recipients. Windward will ensure that strict brand standards are adhered to by using the central repository templates that have been pre-approved. Using accurate REST API, it links to the system to flawlessly fill gaps that may be missed if it were done manually.
Insurance brokers, underwriters, and carriers can enjoy a quick automated generation of policies, letters, insurance cards, and other relevant documents.
There are a lot of dynamic document needs throughout the life-cycle of a life insurance policy. Windward is able to keep up with the personalized document demands while ensuring compliance with guidelines on branding, language, as well as location variations. It even keeps up with financial obligations.
Customers of health insurance can enjoy prompt service thanks to the quick on-demand document generation with instant access to the required data.
Windward allows users to meet the demands of group insurance customers. It can effectively generate a wide range of documents, ranging from simple to complex as well as single out customized documents.
Windward enables archiving of documents using an API integration system like SharePoint. It also supports editing of mass documents without having to do each of them (so eliminates the time-consuming aspect). The software makes it possible to update content whenever the need arises and the changes are affected in all the different documents generated.
By integrating Windward into your document workflow, insurance companies can automate their most time-intensive document preparation process.
Insurance brokers and agents alike can quickly and easily generate complex documents that reduce human error and minimize approval times — resulting in great ROI.