Automated Servicing | Read Time: 4 minutes

Why Your Business Should Be Leveraging Automated Servicing Technology

April 20, 2017

By: Terry Woodford

In today’s digital world, insurers across the industry are recognizing that their agencies need improved servicing options to work more efficiently and sell more business. By automating information exchange through download, insurers can provide the most accurate and up-to-date information to agents on demand, creating a better servicing experience across the policy life-cycle. Technology that creates these automated servicing opportunities is a huge game changer for insurers and agencies alike.

More than half of agents recently surveyed by IVANS stated they want to receive eDocs and Messages download from insurers. eDocs & Messages download can drastically reduce time spent acquiring documents from insurer websites while increasing ease of doing business. For insurers, now is an opportune time to expand agency servicing options and automate communications for better agent relationships and improved customer service.

So what is eDocs and Messages download?

eDocs and Messages download is an ACORD XML standard that acts just like email, allowing insurers to send messages and documents directly into their agents’ management systems. Data content that can be downloaded via eDocs and Messages download includes basic policy information, claims information and document attachments. eDocs and Messages download is one of the fastest growing transactions available today by both count and agency adoption. Seven different agency management systems currently support eDocs and Messages download, and more than 65% of agents already receive this type of download from their insurer partners to stay informed with the latest client information for better customer service.

Top 3 benefits of automating communications via eDocs and Messages download:

  1. Improve servicing throughout the policy lifecycle
    Automated information exchange provides significant benefits for insurers by enabling more proactive servicing across the policy lifecycle. The ability to send information directly to agents through their agency management system improves servicing and creates a better customer experience from insurer to insured.
  2. Increase ease of doing business with your agency partners
    Agents receive eDocs and Messages download in real time, enabling them to have everything they need in one centralized location. By integrating directly into their existing daily workflows, you can help your agency partners spend more time serving clients and building their book of business.
  3. Save time and increase efficiency so you can focus more time on growing your business
    eDocs and Messages download helps reduce time and cost spent manually managing individual information requests and solutions while ensuring that you can instantly provide the information your agents need anytime, anywhere. By continuously providing your agency partners accurate information, you can generate more business and increase policyholder satisfaction and retention.

What types of files should I be sending to my agents?

There are over 40 different types of documents that can be downloaded via eDocs and Messages, but not all of these document types are going to be valuable to your agents. It’s easy for insurers to get hung up on what to do with eDocs and Messages, and time can be wasted while trying to choose what to send to agents. It’s important to consider what your agents are requesting when deciding what types of documents to download.

When asked “What kinds of eDocs and Messages would you find useful?” more than 95% of agents responded that cancellation confirmations, pending cancellations and Dec pages were the most important types of download for their business. Document delivery and Dec page delivery are significant items to consider when downloading a message to an agency as these two offerings can significantly improve agency experience.

To learn how to get started, watch the Tips and Tricks for Implementing eDocs and Messages on-demand webinar.

Terry Woodford

Terry Woodford, former Director of Implementation for Ivans, has worked in the computer industry his entire career, namely in the areas of retail and insurance, and has been with IVANS for 11 years. He was instrumental in successfully implementing Agency Company Interface for both upload and download of personal and commercial lines and has developed mapping tools that illustrate download data content for customers. Terry graduated Suma Cum Laude from the University of Cincinnati with an Associate's Degree in Computer Science.