Of course, that much revenue coming in from across a broad spectrum of lines and products, tends to generate a significant amount of paperwork. From documentation, endorsements and application forms to correspondence with end customers and brokers, each policy (and there are thousands of policies) comes with dozens or hundreds of documents.
Early on, Trisura was capable of handling all that paper, but as they grew, it started to become a major problem. By 2009, Trisura managers were getting their first inklings that a document management solution was needed. But despite some inefficiencies in retrieval and day-to-day use, the firm’s staff of 40 was still able to keep up with their document demands—barely.
In 2011, Trisura finally hit the tipping point. Filing cabinets, overstuffed with manila folders and tabbed binders, took up an excessive amount of expensive floorspace — to say nothing of the paper files piled up on every underwriter’s desk. Keeping up with demands centered around policy renewal and maturation was borderline impossible. Simply finding the right paperwork took up an inordinate amount of staff time — negatively affecting productivity and hampering growth. Clearly, it was time to deploy a proper document management solution.
To begin, Trisura first drew up a list of specifications:
After a head-to-head evaluation of a number of solutions, Trisura found only one that met all of their needs: PSIsafe, a complete, paperless document management software solution, designed to allow organizations to increase efficiency, improve security, save physical space and reduce their carbon footprint – all without fundamental changes to existing workflows and processes.
Trisura chose a phased approach to deploy their document management system. The first step was choosing who internally would first use PSIsafe; in Trisura’s case, it was the Corporate Risk line of business, followed soon by the Claims Management and Accounts Payable departments.
Then came the first critical usage decision: whether to employ day-forward scanning (maintaining a paper backfile and digitizing only documents created after implementation) or to do a backfile conversion (mass scanning of existing paper documents, in order to create a holistic digital database within PSIsafe). Trisura chose the latter, allowing staffers full access to digital versions of documents — and allowing managers to outsource storage of all those paper files to a far less expensive facility.
With a solid plan in place, the actual deployment of PSIsafe went smoothly, thanks in large part to Novacc’s rich knowledge of the software and its configuration capabilities. Novacc suggested and implemented a number of innovative solutions based on expanding on PSIsafe’s robust core capabilities, including the use of PSIGEN Software’s Synchronizer module to automatically create a folder in PSIsafe when a new account is created in the policy administration system. This one minor feature has saved Trisura staffers countless hours of time, significantly reduced duplicate data entry and helped ensure accurate information in a business where accuracy means everything.
In the accounts payable department, invoices are digitized, then processed utilizing PSIsafe’s robust Workflow capabilities — from intake through approval, then to payables and back to signing officers, who are required to give final review before signing checks. Once again, PSIsafe has significantly cut back on wasted time and effort throughout this process.
The claims management department enjoys similar efficiency, with the added bonus of a custom-built solution allowing access to PSIsafe from within Trisura’s claim system. This is especially important, since a single piece of missing information can mean the difference between a smooth claim and one requiring many hours of extra work.
“With PSIGEN PSIsafe, all of our information, enterprise-wide, is secure and easily accessible, all in one place. That’s very different from paper-based environments, or Windows shared environments. In those, documents can be stored in various methods, and may not be easy to retrieve. That’s not the case at all with PSIsafe. No matter what we need, information is at our fingertips — and users are very happy.”
Today, after implementing PSIsafe, Trisura is reaping the benefits each and every day. A typical workflow, for instance, involves an underwriter pulling up account information at renewal time, reviewing financials, corresponding with a broker, issuing a new quote and re-filing updated information. On paper, this could all contain hours of non-value-added tasks. Today with PSIsafe, that number is essentially zero.