One of the fastest growing life insurance companies in New Zealand, Partners Life teamed with Fuji Xerox to automate the process of handling, sorting and integrating incoming information into their business systems. One of the key projects implemented, Project ACE, saw 80-90% of new insurance applications approval turnaround slashed from the initial one and a half days to a blistering 4 hours…
“Partners Life teamed with Fuji Xerox to automate the process of handling, sorting and integrating incoming information into their business systems.”
In its first year of operation, the company partnered with Fuji Xerox New Zealand to undertake a significant on-site back-scanning and archiving project. By the end of this project, over 600 boxes of documents were digitised, meta-tagged and stored online.
Giving Partners Life staff immediate access to all policy files brought immediate efficiency gains, and saved the company from adding another 3 operations staff to their head count.
Fuji Xerox New Zealand also designed an indexing solution to capture and validate information on the application forms – regardless of the original submission format – against a complex set of business rules.
Partners Life receives 1,100, 36-page copies of new business insurance application forms every month. With Project ACE (Application Capture Extra), Fuji Xerox New Zealand delivered an imaging service solution which streamlines the entire underwriting process.
Fuji Xerox New Zealand’s ACE imaging service solution means that 80-90% of all applications are released into the Underwriters’ approval queue in a blistering 4 hours, instead of the previous processing time of one and a half days.
Applicants now have the choice of filling out the forms on a tablet with a stylus, or by hand in a paper format. Advisors can photograph hard copy applications and submit the images by email, or batch scan and email images from home or the office, at the end of the day.
“The outcomes we’ve achieved with Fuji Xerox New Zealand across all our projects have been measurable, and they’ve exceeded expectations in all cases.” Mark Lewis, General Manager, Software Development
To learn how partners life streamlined the day to day operation, click here.