Paperless Insurance

Insurance is a very document-intensive industry. Every value chain and all major processes use documents such as product brochures, application, quote, illustrations, forms, policy documents, bills, premium receipts, claims, supporting documents, etc. Insurers from different lines of businesses spend extensive amounts on the paperwork – health insurance being the highest at 21%. An insurer with 20000 policy holders, spends 100K on mailing costs of bills - just for the stamps and envelopes. There are various other expenses related to it such as employee costs, printing costs, transport, tracking, errors, etc. Reducing these expenses directly impacts the insurers’ bottom line and avoids unnecessary expenses in omissions or errors. It offers insurers the agility to respond quickly and improve customer satisfaction. Above all, paperless insurance helps in saving trees, reducing fuel expenses and helping a greener environment – making the world a better place to live in. Virtusa is not only conscious of its responsibility to the environment, but also of its support for the insurers and their end customers. With its rich expertise in customer experience management and business process management, along with the industry knowledge, Virtusa offers the following services:

  • Imaging and capture
  • Records management
  • Document management
  • Forms processing
  • Digital asset management