How having the right system could make your insurance business more efficient

Why saving key strokes can also mean saving money - and how you can create that efficiency

How having the right system could make your insurance business more efficient


By Sam Boyer

Saving keystrokes is saving money. With the right document generation system, your business could be humming along.

Computer systems create business efficiency. Document generation systems are no different. Insurance Business spoke to Rob Zuzula, director of marketing and product services at NetRate Systems, about the importance of document generation.

It’s all about shortcuts – creating small efficiencies over a large scale to positively impact your business over the long-term, he says.

Eliminating keystrokes

“Beyond just the annoyance of additional keystrokes and re-entering data, there’s also the issue of E&O [errors and omissions] in the data,” he said. “If there’s something that doesn’t get transcribed or brought over correctly from the policy admin system on to the forms documents then that opens up exposures for E&O issues.

“The thing that’s key for all the agents and brokers out there is speed, being able to generate the policy documents – sometimes it’s a hundred-plus pages and it happens within seconds, all the documents all pulled and put in the right order and all filled and ready to send out electronically or print.

“Document generation, in general, is a key part of the insurance sales operation. Insurance is basically paying for the promise of somebody being there when you have a loss, and all those promises are captured in that document. So the document is important to generate accurately and importantly.”

Updating and managing forms

“What’s out there is everything from pulling a printed form down and typing it up, to somebody that has a document library of Word or PDF documents and they manually type in the information into the correct forms, to – as you get more sophisticated – you have systems that will take all the information that’s already been entered through the rating and quoting process and depositing that onto the forms,” he continued.

“Then, as you continue down that sophistication spectrum, you start building rules into the data that’s being passed along. So, not only are you automatically pulling data from the system and putting it in one of the correct forms but you’re also determining automatically based on that data what are the correct forms – it’s building rules on top to automate the selection of forms. And that’s one of the key features that we have.”

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