Working with the Insurance sector

Topics: Improve efficiency / productivity | Records management | Paper to Digital

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Addressing Customer Service And Regulatory Compliance

To win new customers and keep existing ones loyal, insurance companies are looking to raise service and satisfaction levels by being more responsive.
At the same time, they’re under pressure to comply with regulations on information security and data protection that constantly evolve, and become ever more stringent.

The way you deal with information can have a big effect on how well you address these challenges — and on the success of your business.

Working with a trusted information management partner like Iron Mountain gives you access to the systems, processes and expertise that will help you manage, store, process and access your information more efficiently. With our help, you’ll be able to:

  • Serve customers better through faster, easier information access
  • Reduce risk with improved information security and straightforward compliance

Greater Information Control For Efficient Claims Processing

When a customer sends in a claim form, how quickly can you respond? Does a form ever go astray or get separated from its supporting documentation? How easily can you meet the regulator-mandated response time? Can your processes scale up to cope with the large volumes of claims following a large-scale catastrophic event?

Imagine having all your live claims properly filed and easily accessible whenever you need them. Iron Mountain can help, by storing and managing your information at our own secure sites or on your premises.
You’ll have:

  • Rapid file-by-file access to the information you need, with individual documents — originals or scans — returned to you in as little as two hours
  • Complete control over everything you store with us via our online portal, IM Connect™, that lets authorised users request access to records and documents

Whatever your needs, we can tailor our services to suit. For example, if a case involves lots of individual claims, we can scan everything to make searching and retrieval simpler, and enable access from multiple locations.

“When we need a document, we need it quickly. Iron Mountain can deliver us any document in hours and I have only good things to say about its service quality.”
Mark Chadwick,
Group Propert y Manager , Oval Limited

Faster Information Access For Improved Customer Retention

What’s your procedure for dealing with a new policy application or a letter of complaint? How many departments have to input before a decision can be made and communicated to the customer?

Does paperwork ever get held up between departments? Can you check that everyone has carried out their allotted tasks? How easily can you access complete information for a customer?

Iron Mountain can help by scanning incoming documents — on demand or in bulk — for import into your customer relationship management (CRM), enterprise content management (ECM) and other systems. And you can be confident that, should you need it, your scanned documents meet the UK’s BSI DISC PD0008 (legal admissibility of scanned documents) standard.
Converting to digital lets you:

  • Speed up and track each document’s journey through your internal processes by applying workflows and alerts
  • Remove the risk of steps being overlooked and documents languishing in in-trays
  • Make decisions faster and respond more promptly to customers

What’s more, you’ll be able to consolidate all your information about each customer. Their history, needs and priorities will be at your fingertips, helping you target your cross- and up-selling efforts more effectively.

“We were convinced that Iron Mountain could supply all the services associated with archiving, scanning, transporting files, and data exchange from one source.”
Thomas Hübner,
Head of Applications Management ,
Swiss Life

Improved Processes And Security For Straight Forward Regu Latory Compliance

Your reputation and customers’ loyalty depend heavily on your compliance with regulations, many of which cover information security and risk management.

Have you ever suffered — or come close to suffering — a data breach? Are you confident your back-up data protection arrangements offer the right levels of security? Can your in-house security teams keep up with changing regulations?

Where and how do you store your archives of deactivated accounts and lapsed policies — and what’s your process for destroying them when they expire? Could the sheer volume of paper you need to store put compliance at risk?

By working with Iron Mountain, you’ll be able to see exactly where your records and documents are at any time — and prove it to your auditors without even leaving your desk.

You can trust Iron Mountain to store and transport your physical and digital records safely and securely:

  • Our facilities have industry-leading security features — unlike standard storage space you might rent — as do our systems and vehicles
  • Our people are vetted and trained and work to bestpractice processes for document handling, records retention and information destruction
  • We incorporate a rigorous chain of custody and audit trail for clear accountability
  • Our operations meet standards and regulations such as the UK’s EN 15713 (secure destruction of confidential material); and our professional approach to information security and access supports compliance with directives like Solvency II

We can store your information for as long as you or regulations require, with options for efficient retrieval. We can also provide a safe haven for your back-up data to help you meet business continuity and disaster recovery objectives. And when your records reach the end of their life — whether they’re on paper or digital media — we can securely destroy them so that they are non-reconstructible.

Find Out More

To find out more about how Iron Mountain’s information management services can help insurance companies accelerate customer service improvements and simplify regulatory compliance, contact us: www.ironmountain.co.uk or call us on 08445 60 70 80

About Iron Mountain . Iron Mountain Incorporated (NYSE: IRM) provides information management services that help organizations lower the costs, risks and inefficiencies of managing their physical and digital data. Founded in 1951, Iron Mountain manages billions of information assets, including backup and archival data, electronic records, document imaging, business records, secure shredding, and more, for organizations around the world. Visit the company Web site at www.ironmountain.com for more information.

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