DOCUMENT MANAGEMENT SYSTEM FOR
Insurance Industry
The insurance industry is among the most paper-intensive industries. Insurance companies deal with endless piles of physical records and paper documents on a daily basis. In these circumstances, insecure storage and not having a well-established document management process can lead to serious damaging consequences. In today's competitive era, it has become crucial for insurance agencies and firms to respond promptly to their customers; a delayed response may cause customer loss. Hence, managing documents effectively becomes necessary in insurance companies. Failure to efficiently manage and control documents results in losing valuable time, productivity and even customers.EisenVault's insurance electronic document management system is specially designed for insurance firms. With EisenVault, standardise the turnaround time for resolving your customer queries to less than one minute, significantly reduce costs, and focus on meaningful tasks. Our dedicated document management software for insurance companies allows documents to be managed efficiently and securely without any hassle.
Need For Insurance Document Management
System Software
Present insurance companies rely heavily on paper-based documents, dealing with large volumes of documents on a daily basis, including policy applications, legal agreements, claim forms, customer proofs, customer communications, PIP & HCFA forms, etc. As a data-driven industry, insurance agencies and firms must manage and organise these documents efficiently. Document control problems, inefficiency in document processing, and lack of good customer service can lead to more severe consequences for your firm in the near future. This is where the need for an effective document management solution comes in. With our document management software, insurers can digitise and centralise their documents and easily access and retrieve information when required. Eliminate the need for manual filing with EisenVault and reduce the risk of lost documents. Provide relevant information to your customers in seconds and improve the efficiency of your employees. Our document management system for insurance helps with much more than managing documents. Insurance agencies can optimise their firm's performance & services, reduce the risk of document misuse and meet regulatory requirements, which overall increases the efficiency of business processes in the insurance company.
What are the main types of Banking Documents that DMS helps manage
Facility Letters
The facility letter outlines the terms and conditions of the loan or credit facility extended by the bank to the borrower. It includes details like loan amount, repayment schedule, interest rate and collateral required.
Facility Letters
Term Sheets
The term sheet contains vital terms & conditions of the proposed financial transaction, such as interest rates, repayment terms, collateral and other important loan or investment details.
Term Sheets
Commercial Credit Document
With the help of a commercial credit document, financial institutions can assess the creditworthiness of the business of those applying for loans or credits. It includes loan agreements, promissory notes and other documents related to commercial lending activities.
Commercial Credit Document
Mortgage Documents
Mortgage documents include legal documents related to mortgage loans, such as mortgage agreements, promissory notes, trust deeds, mortgage loan terms & any collateral or property used as security.
Mortgage Documents
Lease Agreement
It is a legal contract containing the terms & conditions related to renting a property, such as documents related to rent, maintenance responsibilities, lease terms, and the leased property.
Lease Agreement
Instruction Sheet
An instruction sheet is a concise set of documents related to account opening, loan disbursement, fund transfer, and other banking-related activities.
Instruction Sheet
Guarantee & Security Documentation
Guarantee and security documentation refers to banking legal agreements or contracts containing the terms of a guarantee or security a lender provides to a borrower. It includes documents such as guarantee agreements and security instruments such as pledges, liens, and mortgages.
Guarantee & Security Documentation
Customer Credit Documentation
Customer credit documentation includes credit application forms, financial statements, credit reports, tax returns, bank statements, identification documents, and other relevant documents.
Customer Credit Documentation
Features of Cloud-Based Document Management Software For Insurance Companies
Key Features of EisenVault's document management software are much more than just managing documents. Securely access, share, retrieve and review documents from anywhere, anytime. Increase employee productivity and improve in-house collaboration and customer satisfaction.
Security and Compliance
Insurance companies require strong security measures to protect their customer's confidential documents. Our Insurance Document Management Software is equipped with advanced security features such as access control, user authentication, encryption and audit trails. Plus, it helps ensure compliance with relevant data protection regulations like HIPAA or GDPR.
Security and Compliance
Insurance companies require strong security measures....
Document indexing and classification
Insurance agencies can categorise, tag, or index different types of documents using metadata, making it easier to organise and find specific files based on criteria such as customer name, policy number, or document type.
Document indexing and classification
Insurance agencies can categorise, tag, or index different types of ...
EisenVault insurance document management software provides a centralised document storage policy for storing all insurance documents, such as claims, invoices, policies and correspondence. Users can effortlessly search, retrieve and access documents.
Document storage and retrieval
Document storage and retrieval
EisenVault insurance document management software provides...
Collaboration and Document Sharing
Our DMS system includes document sharing, editing and commenting features that facilitate seamless collaboration between insurance professionals. It helps multiple stakeholders, such as insurance agents, underwriters, or claims adjusters, work together, improve communication, and speed up decision-making.
Collaboration and Document Sharing
Our DMS system includes document sharing, editing and...
Our document management software offers workflow automation capabilities, enabling users to create customised workflows for document review, approval, and task assignment. This feature ensures a smooth and streamlined process, reducing errors.
Workflow automation
Workflow automation
Our document management software offers...
Our Insurance document management solution can integrate with other systems used by insurance companies and supports secure and seamless data exchange.
Integration capabilities
Integration capabilities
Our Insurance document management solution...
Built-in OCR Extractor
Built-in optical character recognition (OCR) technology allows insurance professionals to automatically extract relevant data from insurance documents, eliminating manual data entry and expediting processes.
Built-in OCR Extractor
Built-in optical character recognition (OCR) technology...
Full-text search
Our cloud DMS system ensures quick and accurate search & retrieval of insurance documents at the time of need based on keywords, metadata or other criteria.
Full-text search
Our cloud DMS system ensures quick and...
Advantages of EisenVault's Insurance Document Management Software
WHY CHOOSE US?
Our Cloud-DMS system offers many advantages, from integrating all data to providing a structured environment to make it readily available, from version control to file locking that prevents data exploitation, increasing firm efficiency & productivity improvement and improving customer satisfaction.
Improve Employee Performance
Our insurance document management software empowers employees by ensuring easy access to relevant information so customer inquiries can be answered quickly and accurately. This eliminates the need for manual searches, ultimately improving staff efficiency and enabling a greater focus on customer service.
Improve Employee Performance
Reduce the risk of fraudulent claims.
Fraudulent claims are the biggest challenge for insurance companies. Our document management system provides robust fraud detection and prevention mechanisms. Flag suspicious claims based on predefined criteria with EisenVault and save significant time & money by identifying potential fraud early.
Reduce the risk of fraudulent claims.
Regulatory Compliance
Insurance companies operate in a highly regulated environment and follow strict guidelines & compliance requirements. Document management systems allow for efficient audits, reporting, and tracking of documents, ensuring compliance with regulatory requirements and minimising risk.
Regulatory Compliance
Fine-Grained Security
EisenVault's insurance document management solution allows administrators to control access to sensitive customer & business information. Ensure only authorised access to documents and maintain data integrity with role-based access control.
Fine-Grained Security
Increase Customer Satisfaction
Insurance companies often face customer unhappiness and end up losing customers. With EisenVault, insurers can provide a seamless customer experience by offering a self-service portal where policyholders can access and manage their documents online.
Increase Customer Satisfaction
Optimisation and automation of paperwork processes
Our document management system reduces human error by automating manual tasks such as data entry, document routing, approval and indexing. Increase automation efficiency with EisenVault, speed up response times and help employees focus on more value-added activities by streamlining administrative tasks.
Optimisation and automation of paperwork processes
Real-time Tracking & Reporting
EOur insurance document management software provides real-time tracking and reporting capabilities, providing valuable insights into employee productivity, customer interactions, document processing times and claims status. It allows the insurer to identify bottlenecks, optimise workflow, and boost overall efficiency.
Real-time Tracking & Reporting
Enable Remote Access
Our insurance document management system allows remote employees to work, view, access, upload, edit, and share documents from anywhere, anytime, by using login credentials.
Enable Remote Access
Document Management Case Studies In The
HR Industry
CASE STUDIES
Transform your HR operations with EisenVault's HR EDMS.
HR Document Management Case Study – Luminous Power Technologies Situation
Luminous had thousands of employee files in hard copy, stored in physical storage across multiple office locations in India. However, the client wanted a better solution for storing files online and running compliance reports.
Action
EisenVault had all files scanned, categorised and tagged. Then, files were uploaded into employee folders in the EisenVault Cloud DMS. A custom report was built which showed compliance - i.e. Which documents are present and missing for which employee ID.
EisenVault has custom solutions for HR professionals, including reports, management dashboards, integrations with third-party HRMS software and scanning solutions.
EisenVault Document Management Software For Other Industries
Document Management System For Engineering Industry
Document management solutions help to organise and manage document operations in the engineering industry efficiently. Timely completion of projects in the engineering industry is already an onerous task, and on top of that, maintaining work efficiency with documents such as CAD files, engineer design blueprints, regulatory permissions, project plans, technical documents, proposals, invoices etc., and Collaborating can seem like a never-ending loop. EisenVault document management software is an easy, fast and error-free way to manage engineering documents more efficiently. Automate your document handling with precise categorisation, enhanced security, faster searching, and an audit trail.
