Issuing policies and contract management in the insurance sector
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Issuing policies and contract management
in the insurance sector

Save valuable time with digital and automated processes in contract management

From the point of view of the end customer, the insurance policy is the foundation of their relationship with the insurance company. Smooth document creation is essential when it comes to customer communication. In practice, companies in the insurance industry are confronted with extremely large amounts of data on a daily basis, especially with holistic contract management and the associated creation of complex and personalised documentation. Particular attention must be paid here to legally binding contract texts, which must meet high quality requirements. The aim is to create documents completely automatically that fulfil the highest standards of quality and professionalism despite the lack of manual work. DocuMatrix offers sophisticated products that can process large amounts of data quickly and efficiently. The technology replaces manual processes with automated ones, enabling end customers to handle contract documents in a digital, efficient and legally secure manner.

The advantages of contract management with DocuMatrix software

Efficient creation of documents

Through automation and the single point of change approach, a large amount of documentation can be generated within a short time.

Individualised content in standard documents

Despite a high degree of automation, individualised content can be easily integrated into highly standardised documents.

High level of interaction in a document

Collaboration between the specialist departments and the customer in a document significantly reduces the lead time.

Insurance conditions can be maintained

The single point of change principle makes it possible to maintain the insurance conditions over decades.

Digital optimisation when issuing policies and in contract management

Fully automatic policy creation with revision option

With the DocuMatrix software, documents such as the insurance policy can be generated fully automatically with integration of all personal and contract-based data, including all benefit information and conditions. Despite automation, manual interventions are still possible for all standardised documents. This facilitates the addition of further content, such as green cards, SEPA payment slips, sales information or individual content and agreements, and also accelerates the process. Content created decentrally, such as special clauses or personal letters in the policy, is also possible and easy to integrate. DocuMatrix offers reliable and sophisticated software designed for the creation of highly complex documents. With the help of dynamic templates, the creation process is standardised and efficient.

Time-efficient automatic premium adjustment

The creation of adjustment policies and premium adjustments is a time-critical process for insurance companies during which large amounts of data have to be managed. However, the adjustments must reach the insured by a certain deadline. That means many resources in the company are often specifically blocked for this process.

DocuMatrix software fully automates the process while ensuring quality in every agreement. The software features high-performance rendering and efficient data processing options. Legal requirements, such as cut-off dates or uniform phrases in the documents, can be easily implemented without taking up long process times in the company.

Central administration of insurance conditions

Different agreements apply to different tariffs. However, there are often overlaps in general terms and conditions, such as notice periods, suspensions, restrictions on transferability, or separate clauses such as maternity care. When creating policies, clerks are therefore often busy manually assigning certain conditions to the individual tariffs and incorporating them into numerous documents, such as offers, applications, product sheets or individual correspondence. In addition, maintenance of the numerous conditions is time-consuming.

DocuMatrix software, however, works according to the single point of change principle. If a condition changes centrally, it is automatically included in all new documents in the latest version. In addition, those conditions can be created centrally by different departments, checked by the legal department and managed by the specialist departments. The software offers the highest level of traceability and transparency, as the versioning can be traced back to an individual mouse click. Approval processes by the legal department or the specialist department for quality assurance are also possible at any time.

Increased customer interaction

In today’s world, quick response to customer concerns is a must. After all, every customer wants to be informed quickly and clearly about contracts as well as any changes and benefit processing – and preferably on different channels. The customer journey offers several points of contact between the customer and the insurance company, for instance in the event of deaths, premium confirmations, benefit processing, invoices or reminders. In addition, documents are often created manually, are prone to errors or are created according to the interpretation of the individual clerks. With DocuMatrix software, exactly this is a thing of the past – documents are created fully automatically and at the push of a button. This prevents errors and leeway for interpretation. The different employees and departments work together on the templates and documents. This means that customers receive clear information quickly. The software also enables interaction on a wide variety of channels, both digital and analogue (for example messenger services, apps, portals, SMS or letter), depending on the need and quality of the information.

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