Articles
Savings Achieved Through Scanning System At Hastings Mutual Insurance
November 15, 2007
•Case Study: Savings Achieved Through Scanning System At Hastings Mutual Insurance
Technology Underwrites ROI for HMIC Mutual Hastings Mutual Insurance Company (HMIC) has a $300 million direct written premium and is licensed to write in Michigan, Indiana, Ohio, Wisconsin and Illinois. HMIC has a nearly 120-year history of success in the competitive insurance industry. Their top five lines of business are Commercial Lines, Homeowners, Workman's Compensation, Auto Physical Damage and Personal Auto. However, even successful companies face the seemingly contradictory demands to increase efficiency, lower costs, and improve customer service.
With the help of KeyMark, HMIC has modified their departmental processes to fit multiple functions throughout their company with KeyRoute. KeyRoute is a combined solution provided by KeyMark, made up of OPEX for automated mail opening and scanning; Kofax Indicius for advanced data capture, and Hyland Software's OnBase system for document management. HMIC was able to reduce labor cost and upgrade their current system for processing claim documents. Based on their success, they have applied KeyRoute to other paper-intensive processes in other departments from back office operations in the mailroom and accounts payable to their human resources department.
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