Case study

Efficient document management at the NLB Vita insurance company

NLB Vita updated their document management and storage processes. With the introduction of electronic archiving, they reduced operating costs and, at the same time, increased responsiveness in meeting the needs and expectations of our customers. Prior to the introduction of electronic archiving, employees at the insurance company spent a large part of their workday dealing with documents. They stored documents in paper form, which then required a great deal of time to accept, check, search for and archive.

In NLB Vita’s operations, insurance contracts constitute the majority of received documents. Just considering the quantities of these documents, it is easy to see how the costs connected to their management and storage are quite high. “We are bound to store insurance contracts for the entire duration of their performance and from a following ten years following their expiry, this means we have to store documents up to 30 years or more. The increasing number of documents, our management and storage costs, as well as the work required by employees who are involved in the execution of business processes, all led us to the point where we had to think how to update and optimize this process,” they said at NLB Vita.

Increasing responsiveness, reducing operating costs

Following the updating of processes, the insurance company aimed for two goals, namely increasing customer responsiveness and optimizing operating costs. Prior to introducing the electronic storage, the insurance company stored documents in two separate archives. They had a handy archive on the premises of NLB Vita, while the other was a leased cellar premise, which represented an additional expense.

Eight NLB Vita employees handled the insurance documents in two sectors, and spend a large part of their working day organizing and filing documents in binders, retrieving documents and supplementing existing files, as well as actually archiving the documents. Adding up all the time spent by employees on handling paper documents would amount to a full day’s work.

In addition to the time lost on sorting paper documents, there was also a good chance that an error could occur in the process of entering additional documents into the files. Due to all of the above, responsiveness towards customers also decreased. Changes were desperately needed to be made.

Documents securely stored in Mikrocop’s certified e-storage system

The introduction of the electronic archiving project was implemented in collaboration with Mikrocop, which had many years of experience in the field of converting, processing and storing documents. “We entrusted the external provider Mikrocop with the converting of documents into an electronic format, likewise also the archiving of documents, which are now stored in their certified e-storage system. In the first phase of the project, we started by fixing the initial situation, from then on we hand over all newly created documents to Mikrocop on a monthly basis and they take care of the conversion into electronic form and importing the data into an electronic archive,” they explained.

Satisfied users and lower operating costs

The positive effects of this new way of managing documents were noticeable almost immediately and users are satisfied, too. They now have a comprehensive overview of the documents and access to them is both easy and quick. The time needed to organize, archive and retrieve documents has significantly decreased. “Prior to the introduction of electronic archiving, we sometimes needed all day to retrieve a specific document, now, they are all accessible with a few mouse clicks. The time saved can now be passed on to customers. Thus, we achieved one of the main goals we set for ourselves as part of this project. Being responsive to the needs of our customers and offering good support to employees working in sales is a top priority,” they pointed out at the life insurance company.

Using electronic archiving, NLB Vita also reduced operating costs. Because documents are now in electronic form, it is possible to also limit quick access to authorized persons. Copying and faxing documents is no longer necessary, whereby expenses for materials have been reduced and the security of customer’s personal data has increased. They furthermore no longer have costs relating to the lease of archiving premises.

The end goal is less paper in business

The positive effects and beneficial experience of using electronic archiving soon convinced NLB Vita to expand this solution to include other types of documents. The end goal remains the same – the insurance company wants to reduce their paper use to a minimum. “Currently, all documents that are generated when concluding insurances are sent to NLB Vita where we review them and prepare them to be processed by Mikrocop. In the future, we plan to send as many of the insurance agents’ documents as possible directly to Mikrocop. This will increase our efficiency and customer responsiveness,” said NLB Vita.