Source: Global 360
Global 360, a leading provider of business process management (BPM) and optimisation solutions, is pleased to announce that American Founders Life Insurance Company (AFLIC) has successfully deployed Global 360's technology to drastically improve its bottom line by eliminating paper files, resulting in quicker customer response time, higher efficiency rates and lower administrative costs.
AFLIC offers life and annuity products to more than 70 thousand policyholders. Through a strategy of acquisitions and mergers, the company has expanded its operations and tripled its employee base over the last eight years. Prior to the implementation of Global 360's solution, all policy information was managed in a paper-based document system. While the old system was working, it lacked efficiency, and AFLIC was looking for a new system that would enhance customer service, reduce response time and improve employee productivity.
"If a customer had a question, there was a minimum 24 hour turnaround to access the information," said Mike Stricker, vice president IS, American Founders Life. "American Founders Life is constantly striving to improve our service to policyholders. We wanted to improve the process while reducing the costs of managing it."
With the implementation of Global 360's solution, AFLIC has been able to shift its paper-based system to an electronically-based one. All policy information is scanned into the system upon receipt from the policy member when a virtual folder is created using the policy number and other data for verification.
Each department can view and process the appropriate policy information, while maintaining a secure environment. The company administers its business by capturing all of the documents as images in the Global 360 Enterprise BPM solution. All insurance policies are electronically stored and managed providing a single source for information across the organisation.
"Now, when a policyholder has a question, we can provide real-time answers," said Stricker. "This single change has improved our customer service immensely. Instead of 24 hours, our representatives can give answers in just minutes."
The company has been able to eliminate filing tasks so employees can focus on customer service and policy management responsibilities. AFLIC has drastically reduced administrative costs by storing all documents digitally and removing files and filing cabinets. The company-wide use of Global 360's solution has provided the company with the ability to access and store all policyholder information in a single system.
"Upon the integration of newly acquired companies and members, AFLIC was faced with significant growth and a substantial increase of new documents on a daily basis. Global 360's solution enabled AFLIC to enhance customer service and response time, improve internal operations and reduce overall overhead costs," said Michael Crosno, president of Global 360. "AFLIC's success story is a great example of how Global 360 enables a company to meet its corporate objectives."