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Financial services
Data Management Solutions for Insurance Companies
Thoughtfully manage information, no matter the source, improve compliance programs and gain business efficiencies, accelerate digital transformation
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Accelerate your digital transformation within the insurance space
How do I handle compliance and business process deficiencies?
A major property and casualty insurance company needed a way to enforce compliance through an enterprise-wide clean desk policy. The claims department still operated on manual processes—a massive issue to remedy
Solution
The solution needed to demonstrate measurable cost savings, improved efficiency, decreased turnaround times, improved customer experience, and a decreased carbon footprint. We worked with the company to roll out a transition protocol, moving from paper-based, open-shelf processing of property and casualty claims to a digital mailroom with a front-end, image-enabled automated workflow, including secure electronic delivery of select, validated information to third parties. Together, we met the compliance goals and saved the company $1.5 million—while eliminating 5 million printed pages annually.
What if I need backfile imaging for improved access?
A New York-based life insurance company needed to improve access to its highly valuable commercial client files, while minimising risk. These files were highly active with many individuals accessing them over time. This resulted in misfiles and lost documents, and there was no disaster recovery plan for these documents in the event of a catastrophic event, such as a fire or flood.
Solution
Iron Mountain provided a backfile conversion solution for employees, as well as ready access to information anywhere within the organisation. Backfile imaging also allowed for scanning and digitisation of the company’s documents for secure storage in its enterprise content management system.
How do I solve a post-merger digital mailroom dilemma?
A major US insurance brokerage firm struggled to develop a digital mailroom solution that could be delivered in a timely fashion while providing real-world savings and value. After the firm’s recent merger, employees were faced with the major pain point of finding a way to access policy checking services.
Solution
We rerouted the contents of the company’s P.O. boxes to a central location where a team picked up and processed the mail by scanning, classifying by content, and completing data capture with our imaging services. This meant that digital mail could then be rerouted for approvals or exception processing. A centralised database also provided worldwide access to mail. Overall, this solution resulted in better collaboration, cost reductions, and environmental benefits.
How can I work with an outdated and inefficient data center?
A workers’ compensation insurance company evaluated the infrastructure of its data center, including maintenance and operating costs. Results reflected a limited ability for the facility to support redundant power without significant cost and effort.
Solution
The company increased security, redundancy, power, connectivity, and reliability. An Iron Mountain colocation data center, scaled to meet the company’s shifting needs, not only provided increased security and connectivity but also greater energy efficiency and cost savings.
- 1,400+Our footprint spans 1,400+ facilities in 50+ countries
- 65+We’ve spent nearly seven decades working with insurance industry partners
- 2,700Thousands of insurance carriers benefit from our suite of solutions and services
Additional services to escalate your insurance experience
Document scanning and digital storage
Transform your business and centralise your information with digital scanning and storage
Secure Storage
Preserve your important records with highly secure and compliant offsite storage
Secure Shredding Services
Destroy your paper-based records, plastics, and electronic media in a compliant, safe, and cost-effective way
We had already had very good past experience with Iron Mountain in the area of paper archiving…we were convinced that the company could supply all the services associated with archiving, scanning, transporting files, and data exchange.
Our specialists audited the Iron Mountain facilities, including processes, security, and fire protection arrangements. Iron Mountain satisfied all our requirements and tabled a cost-effective proposal.
