Claims processing made simple with digital mailroom

Challenge

Integrate physical boxes withdigital information to enablequicker claim processing times.

As one of the most highly regulatedindustries, insurance and paperworkgo hand in hand.

A top US insurance provider cameto us with claims processing filescoming in both physically anddigitally. However, it did not have away to handle the mix of documenttypes. And the amount of documentsbeing moved around could result inmistakes.

To help fulfill its customer obligationsin an efficient manner, this insurancecompany needed a way to integratephysical boxes of content with digitalinformation to enable quicker claimprocessing times. It also needed todistribute its documents in a waythat provided clarity on inventory,transit statuses, and any downstreamapplications for further processing.

Solution

Iron Mountain Digital Mailroom

To simultaneously expedite itswork and satisfy its customers,this insurance provider decided toimplement our Digital Mailroomsolution with Iron Mountain InSight®,our intelligent document processingand content services platform.Through this, it was able to identify,classify, and sort 50,000 boxes of itsincoming physical files and store morethan 3 terabytes of data to streamlineits entire claims processing serviceoffering. Within all federal regulations,this insurance provider was alsoable to securely transfer documentsbetween other organisations, acquirewet signatures for legal documents,and appropriately store everything.

Outcome

The insurance provider differentiateditself from the competition becauseit was able to more swiftly processits customers’ claims and provide abetter overall service experience. Andas an added bonus, they were ableto remove a third-party consultingfirm that cost millions of dollars andreplace its services with the advancedsearch capabilities in Iron MountainInSight.

By integrating physical boxes withdigital information, the insuranceprovider gained a single view tosearch and locate files on demand,and they are planning to implementAI and machine learning capabilitiesby the end of 2022. What once tookweeks or months of manual labor nowtakes only a few days.

• Merged content in physical boxes with their digital information to provide a single view to search across and identify relevant and required information on demand
• Improved legal discovery efforts and automated claims process from an omni-channel ingestion structure to automated document processing
• Integrated applications and workflow, eliminating traditional manual processes
• Imaged over 1 million files, or 50,000 boxes, and stored more than 3 terabytes of data
• Saved millions of dollars by no longer requiring a third-party consulting firm

Learn more about our DigitalMailroom solution.