Allianz - standardized documents management in order to fulfill regulatory requirements
Allianz offers a comprehensive range of insurance and asset management products and services to 78 million customers in more than 70 countries. Allianz Insurance offers a product portfolio including a wide range of Property-Casualty and Life/Health insurance products for both private and corporate customers.
Allianz Insurance Romania was searching a solution for standardized documents management in order to fulfill regulatory requirements and business needs.
A unified documents repository system was necessary to increase information retrieval while providing integration with the core business applications managing the customer files generated across 180 distributed branches. Also a new front-end electronic insurance policy issuing mechanism was intended.
Everything you need to know
- No standardized procedures and no centralized registration processes;
- Over 50% of documents not registered correctly or not registered at all;
- Lack of traceability and loss of documents due to faulty paper handling;
- Lack of space in offices (large amounts of documents stored in offices);
- Long retrieval time for physical documents;
- Unprotected confidential information;
- Significant multiplication, transfer and paper management costs;
- Long processing times and insurance policy issuing times for agents;
- Generate insurance policies in PDF format, biometrically.
The solution allowed front-end paperless operations when issuing and signing insurance policies and delivered a unified registration process of all incoming/outgoing documents across all branches. A clear workflow is now in place for digitizing the physical archive. Moreover the electronic archiving and records management solution enables the company to store all the documents in a single, unified repository while securely exposing it to the business users and core applications.
- Document traceability;
- Higher operational and decisional eciency;
- Higher level of compliance with internal and external regulations;
- Documents access according to the security rights and confidentiality policies;
- Concurrent access to documents;
- Cost reduction due to paperless insurance policy issuing;
- Significantly faster policy issuing times;
- Reduced overhead of databases supporting the business applications;
- Preserved records history, reduced operational risk and company exposure;
- A unified view of all customer related documents.