Challenge

Document retention and compliant storage requirements are key challenges for the entire insurance industry. But for providers like Utmost, who manage client employee policies that can extend over decades, the sheer size of client files makes document processing, storage, and retrieval an even greater challenge. Utmost required an automated solution to handle the capture, storage, retrieval, and full lifecycle management of their large number of client documents.

Solution

SofCo’s SÄHKE2 and ISO 27001 certified Compliant Archive automates the business process surrounding client policy documentation. SoftCo’s outsource service captures and processes all Utmost documentation which is then stored in SoftCo Cloud’s ISO27001 Compliant Archive. The solution provides intelligent storage capabilities for multiple documents types (paper, email, PDF, XML, EDI etc.) and indexes and categorizes all of Utmost’s documents at the time of storage. Content Addressable Storage (CAS) technology ensures that documents are instantly available when required. Inherent lifecycle management ensures Utmost remain compliant with industry retention and disposal policies, including the option to digitally shred documents at the end of a defined lifecycle.

Results

SoftCo Compliant Archive provides Utmost with full visibility over all client policy documentation and swift access to all information via the SoftCo Cloud. They have removed their previous storage issues for their growing number of documents with the solution’s digital storage capabilities. Utmost has seen a reduction in costs through improved productivity and can ensure compliance with strict document management regulations, including retention and disposal policies.