Optimizing Business Insight: Content Management for Insurers

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1 SAP Brief SAP Business Suite SAP Extended Enterprise Content Management by OpenText Objectives Optimizing Business Insight: Content Management for Insurers

2 Manage your content more effectively Manage your content more effectively Insurance companies face increasing pressures to manage core processes more effectively from finance and risk management to sales and underwriting to claims and customer service. Such improvements create operating efficiencies, profitable growth, and fast, accurate regulatory compliance. Essential to these improvements is an integrated enterprise content management strategy. The insurance industry is awash in content, including policy documents and contracts, financial audit trails, and electronic claim files. Some content exists in physical form; some only in electronic form. Some of it transaction information from a database, for example has a structured and predictable form. Some of it much of it exists in unstructured and unpredictable forms: letters, photographs, and recorded audio and video files. Smoothly connecting all this content to the workflows and business processes within the company has often proved to be a significant management challenge. The SAP Extended Enterprise Content Management (SAP Extended ECM) application by OpenText helps you integrate all types of content unstructured as well as structured to support your core business processes. Thus, you can significantly and directly improve operating efficiency, profitability, customer satisfaction, and even regulatory compliance. 2

3 In an ideal world, we d have information at our fingertips when a customer called with a question about a policy or a claim. But this has not been the norm for insurers. Electronic records reside in many different systems; paper documents may be filed in cabinets in another part of the building. The agent taking the call has to put the customer on hold or promise to call back and go off in search of the answer to the question. With SAP Extended ECM, all that changes. Your agents can have information at their fingertips. They can quickly retrieve content from any authorized source and answer a customer s question in seconds, from within their standard workflow. But the benefits reach beyond real-time interactions with customers. SAP Extended ECM enables you to link content to any workflow in the organization. Content related to sales, underwriting, contracting, billing, claims, finance any department or workflow in the company can be incorporated, managed, and made available through SAP Extended ECM. Capture, manage, and retrieve content from all relevant sources even content originating from non-sap applications. 3

4 Because SAP Extended ECM lets you unite and manage both structured and unstructured content, employees, partners, and others can access the content they need at the moment they need it. For example, you can link structured content from sources such as the SAP Customer Relationship Management application or the SAP ERP application to your workflows and processes. Similarly, SAP Extended ECM enables you to manage and integrate your across applications and processes just as effectively. Content that had previously been very difficult to organize and manage becomes part of the body of content that the application dynamically manages within the enterprise. This content can include messages, documents, spreadsheets, presentations created in Microsoft Office or stored as Adobe PDF files, or even audio and video files. You can embed unstructured content into applications, with related metadata automatically uploaded, to enrich any process supported by SAP software. 4

5 SAP Extended ECM can reduce costs in many dimensions. By providing a digital mechanism for holding and organizing content traditionally stored in a physical form such as contracts, correspondence, photographs, and more the solution can dramatically reduce the costs associated with physical storage. You can get rid of the hulking file cabinets and reclaim the costly floor space where those cabinets stood. Furthermore, by providing a way to consolidate content that previously existed in many different electronic repositories, you can lower the cost associated with maintaining old data silos. You can decrease the complexity of your digital infrastructure, thus reducing IT costs as well as application response times. You can also cut costs by increasing the productivity of your employees. No longer do they have to spend time searching for answers in remote file cabinets or waiting to have documents retrieved from a remote archive. The content they need can appear on a screen in seconds. Moreover, to be able to access the right content quickly particularly when dealing with customers helps ensure a fast, accurate response that exceeds customer expectations. In today s digital, real-time age, no one tolerates having to wait for answers. Information must be available instantly; it is essential to your brand image as a company. 5

6 The ability to integrate all content and access it rapidly is critical to the customer experience and enables other benefits as well. If an agent can answer a customer s query in 1 minute instead of 10, the agent may be able to take advantage of the time saved to present a cross-sell offer for additional services. That s where the SAP Document Presentment application by OpenText provides a powerful complement to SAP Extended ECM. SAP Document Presentment can, in real time, provide your customer-facing personnel with crosssell or up-sell offers that have been personalized for the customer while the agent is on the phone. The application is aware of the content associated with that customer and presents the agent with offers designed to appeal to that customer s unique needs. SAP Document Presentment can also add value in other situations. The billing department, for example, can use SAP Document Presentment to incorporate personalized service offers into the invoices it sends each month. Just as in the call center scenario, SAP Document Presentment can tailor the offer on the invoice to appeal to an individual customer s needs, based on an analysis of the information already known about that customer. 6

7 With SAP Extended ECM, your employees can quickly retrieve and view content from any authorized source and they can access this content through the SAP Extended ECM application interface or through a browserbased interface. SAP Extended ECM includes built-in collaboration functionality, such as shared workspaces and support for approval workflows, discussions, projects, tasks, forums, and notifications. This enables your employees to brainstorm, develop, share, comment on, and formally approve content for use. Within a workspace, you can intuitively create ad hoc workflows to manage approvals and sign-offs for various milestones. Employees can view the status of workflows through a dashboard and can integrate them with broader SAP software centric workflows. Remote workers can even access content offline, so they can view vital project information they need even when disconnected from the network. Any changes that an offline user makes to the content can later be synchronized with the files in the collaboration space when the user regains network connectivity. Intuitive access to content creates compelling opportunities to interact with content and co-workers in new ways. 7

8 With SAP Extended ECM, you can better comply with government and industry regulations because you can more easily and more effectively create, maintain, and access the information you need to demonstrate compliance. The application enables you to scan paper documents to your content repository, store key historical content in a secure archive, and handle digital rights management for confidential and sensitive documents. Additionally, you can attach in SAP applications to process support, transform content to different formats, and distribute it for follow-up and approval. Indeed, with SAP Extended ECM, you can control the complete lifecycle of unstructured enterprise content. Throughout the lifecycle, all information is perpetually linked to the appropriate SAP software references, improving information traceability and minimizing the compliance risks associated with the manual management of. SAP Extended ECM enables collaboration and compliance support in a single solution. 8

9 Gaining competitive advantage Gaining competitive advantage In the face of ever-increasing pressures to manage business processes more efficiently and effectively, insurance companies must gain greater control of the content that permeates the business. That s where SAP Extended ECM shines. SAP Extended ECM enables you to manage all your structured and. You can connect content to workflows and business processes, enabling greater insight and a more rapid, informed response to questions or issues that might arise. You can enhance the insights using SAP Document Presentment too, enabling your call center agents and others to extend in real time service offerings that have been personalized around the needs of each customer. With this application, you gain the ability to manage processes more efficiently and to engage with customers in a manner that is informed by an awareness of all salient content related to that customer. This can lead to competitive advantages, sustained and profitable growth, and better regulatory compliance. With SAP Extended ECM, you can gain competitive advantages, sustained and profitable growth, and better regulatory compliance. 9

10 Objectives Summary The SAP Extended Enterprise Content Management application by OpenText provides powerful features that insurance companies can use to maintain, manage, and integrate the structured and that informs business processes. Insurers can gain a competitive advantage in the marketplace, sustain profitable growth, and meet regulatory requirements more efficiently and cost-effectively. Objectives Manage business processes and workflows more effectively and efficiently Reduce cost and complexity of operations Increase customer satisfaction Comply with regulatory requirements Powerful content management features that link both structured and unstructured documents within an overarching enterprise framework Tight integration with other back-office systems Proven technology for scalability and growth Enhanced efficiency and effectiveness Improved access to critical content Increased customer satisfaction Reductions in operating costs Improved content controls for regulatory compliance Learn more Visit www1.sap.com/solutions/technology /enterprise-information-management /content-management.epx. Copyright/Trademark Privacy Impressum 10 CMP21768 (12/10) 2012 SAP AG. All rights reserved.