Hyland Software's Document Management Blog

Novarica ACE Rankings: Shakespeare Meets Insurance Software Solutions

// February 18th, 2011 // 2 Comments » // Enterprise content management, Insurance // Lindsay McCune

“What’s in a name?” Our dear Romeo and Juliet asked the same question. Understanding the answer to this query was a struggle for these star-crossed lovers – and is a contemporary concern for modern-day insurance technology buyers (follow me on this one). With so many buzzwords and acronyms surrounding us, understanding IT and even more so, enterprise content management (ECM) can be a challenge.

Recently, Novarica’s Average Customer Experience (ACE) Rankings  were published (congrats to all the vendors ranked!). After looking at the category Hyland was ranked in – Document Management – something I’ve often considered finally clicked in my head. When it comes to ECM in insurance, most of us are still asking the same question as our Shakespearean friends, “What is in a name?” Document management? ECM?  Imaging? Workflow? Records management? Collaboration?  What’s the context for all of these terms?

Here are just a few points to consider:

• “ECM” means different things to different people and organizations
• With a turbulent market, acquisitions, such as a services vendor purchasing a document  management shop, can make it more confusing
• What business problem you trying to solve?

I ask these questions, because after looking at solutions that were grouped together in the ACE Rankings, especially in Document Management, like solutions weren’t being compared.

But, for the buyer, that’s okay – as long as they realize that rankings like this are simply meant to act as one snapshot of the market. The more important research in identifying what kind of ECM solution you need..  What business problems are you trying to solve? Where will the solution be deployed?  Who will be using it? Can it provide value throughout your enterprise?

Again, rankings are just the start to helping you answer these questions and become an ECM pro.

Another suggestion: turn to your peers!  With so many communities available, people just like you can solve the “what’s in a name” puzzle. Firms like Forrester, AIIM, Gartner, and Celent can give you the basics, propelling you to be the trusted advisor in your organization.

And, after all of your extracurricular reading, you will realize that the question all along wasn’t “what’s in a name?” It was “how does that definition of ECM software apply to me?”  

Insurance ECM pros, what tips can you give organizations in the market for a solution that are sorting through all of the nomenclature?  

Stay tuned for more tips and tricks through the ECM landscape.  It will have you smelling as sweet as a rose, or something that would smell as sweet!

IT strategy rapidly evolving as virtualization grows

// December 30th, 2010 // 1 Comment » // Cloud Computing, Enterprise content management, Government, Healthcare, Insurance, Software as a Service // Glenn Gibson

Just when you thought it was safe to get back to work, your IT world is changing again. Or at the very least evolving.

It’s been doing so since at least 2008, when Gartner, the well-known information technology research and analyst firm, spotlighted one trend, which it calls “the highest-impact issue, changing how organizations plan, buy, deploy and manage IT through 2012.”

And that’s virtualization.

It sounds a bit Matrix-y, and that’s okay, because it is in a way.  Virtualization refers to the virtual rendering of an actual thing, like an operating system, storage device, server and so forth. Your employees encounter it most often when they’re running virtual desktops from their computers at home.

If you’re avoiding it, you might want to rethink your approach. Agile businesses are moving quickly to adopt virtualization, allowing their employees to access information anywhere, anytime with any device. Powerful, powerful stuff, as workforces become more nimble, mobile and spread out. WiFi, 3G, 4G, smartphones and tablets connect workers to their work – and each other – like never before. And virtualization is letting it happen.

As IT infrastructure and datacenter strategy moves toward this new reality ­­­– and we believe it is a reality that’s here to stay – more and more companies will rely on vendors who have the virtualization experience and understanding needed to support their long-term business goals.

We’re so sure this is one of the main avenues business IT is heading down, Hyland regularly updates its virtualization support statement to underscore our commitment to making OnBase run seamlessly on our customers’ virtual infrastructure. And it’s why we find maintaining our VMware ready and Citrix ready certifications so important.

And it’s not just talk. 

Hyland’s own Software as a Service solution, OnBase OnLine, runs almost entirely on virtualized servers hosted by VMware ESX Server.  Many of our customers also host their OnBase solution on virtualized servers. 

One customer runs 30 physical VMware ESX Servers which host ample virtualized servers, providing a server environment that can sustain some 22,000 users. 

So there you have it. Virtualization is the future. And the future is already here.

Investing for the long term: Putting the “E” in ECM

// September 15th, 2010 // 1 Comment » // Document Management, Enterprise content management, Healthcare, Insurance // Kaitlin McCready

Have you heard the buzz around electronic health records? It’s all about the need to put the oftentimes paper patient records and data into electronic format.

That’s all well and good, but what about the rest of the healthcare organization? Much like most businesses, there are administrative functions like HR and AP that also have plenty of processes and content that needs to be managed.

While the media is only talking about the patient record side of things, I was relieved today when talking with a large healthcare delivery network. The woman I chatted with said that while they’re starting with ECM on the clinical side, one of their major requirements was choosing an ECM solution with the ability to extend to the rest of the organization.

In other words, a departmental document management system simply didn’t offer enough value for the long term to justify the investment.

This just isn’t in healthcare though. Check out the video I took from today’s general session:

 The gentleman in the video works in the IT department of an insurance company. Much like the healthcare provider starting out with ECM on the clinical side, he was first using ECM with the underwriting process. But even from the get-go, he acknowledged that any good ECM solution should have the ability to go beyond one or two departments.

Check out other updates that didn’t make the blog from @HylandSoftware on Twitter with the #OTTC hashtag.

Best of Breed is the Best Approach for Insurance Document Management

// May 7th, 2010 // No Comments » // Insurance // Eric Willis

How many of you have purchased a new policy administration or claims management system from a vendor that said, “Oh, you don’t need an ECM system, we have built-in document management…”

Now I’m not going to say that they’re lying, but there’s a HUGE difference between just manually attaching an electronic image to a policy detail screen or an activity record and truly managing the content across your enterprise. So, here’s a quick top 10 of questions to ask your vendor when they say you don’t need an ECM system:

1. Can I scan my inbound mail directly into your system?
2. Will I have the ability to automatically connect new documents to a policy or claim?
3. How do I know if I am missing any documentation for a transaction?
4. Can I implement my records management strategy into your system?
5. Where do I store all of my accounts payable or human resources documents?
6. If I want to see claims documents from my policy screen, do I have to make copies?
7. When exceptions occur what do I do – is that now a manual process?
8. How do I provide access to documentation if legal doesn’t have rights to the claims system?
9. Is there a way to search for images if I’m not on a specific record?
10. Can you automatically notify our agents when they don’t send all the required documents?

Trust me – they shouldn’t be able to answer many of these questions very well, because that’s not what their system is designed to do.

This week I was actually down at the inaugural Duck Creek Insurance Forum in Charleston, SC and finally talked with another ISV that gets it – you can’t solve your customer’s problem when your technology’s not designed to solve their problem.

They understand that their core competency is to deliver a state-of-the-art policy administration system – not document management. Yes, Duck Creek has a document management component, but they know in order to provide a best of breed approach for their customers – they need to partner with other ISVs.

Hopefully this trend will continue with other policy administration and claims management vendors, but remember to keep the questions above in mind…

Core Values of ECM Meet Top Insurance Software Issues

// April 19th, 2010 // No Comments » // Insurance // Eric Willis

Last week Insurance Networking News published a news story regarding the release of new research from the firm, Strategy Meets Action (SMA). The research comes from over 100 hours of interviews with insurance executives and focuses on the top 10 issues facing insurers in 2010.

I was excited to see the results from SMA because several of the top 10 fit right into the core values ECM brings to insurance organizations – several of which we have already discussed through this blog. Three of the issues that hit closest to home are:
    
     #6 – Apply smarts to underwriting
     #8 – Holistically link customer communication
     #9 – Benefit from business optimization

Apply Smarts to Underwriting
One of the guiding fundamentals of ECM for insurance companies is the ability to enforce your underwriting guidelines and business rules throughout your process. Now, I’m not saying that an ECM system is going to replace your policy admin. system or your rating engine. On the contrary, ECM is a complementary technology that allows you to book new business faster and more accurately than your competition – without sacrificing risk tolerance.

Holistically Link Customer Communication
From the outside the differences between Customer Correspondence Management (CCM) and ECM can be hard to see; however, ECM applications bring value on two fronts. Many ECM applications provide the ability to generate and store customer communication, but more importantly they provide the ability to link communications with all other content related to a policyholder (correspondence, applications, declaration pages, notices of loss, estimates, interviews, etc.). This really gives policyholder services the ability to have a true holistic view of a customer.

Benefit From Business Optimization
Ever insurer wants to do more with less and ECM is one of the technologies that allows them to do that. I continually hear from prospects, “we need to figure out how to reduce our cycle times and take advantage of the economic recovery.” The key to doing this is to optimize your business processes. People think of ECM as just document management or imaging – but I’m here to tell you it does much more. ECM can be used to not just store content related to the transaction, but to process the transaction and even to manage the process itself.

I hope you can see that ECM can be one technology that can make an impact across multiple areas. Thanks to Deb Smallwood and her team of researchers – I look forward to your next report…

How Will The Healthcare Reform Bill Affect You?

// March 29th, 2010 // 3 Comments » // Healthcare, Insurance // Eric Willis

Last week I had the opportunity to spend a few days with Hyland Software’s Insurance Advisory Council. The group brings together representatives from every segment of the insurance market and provides great insight into how technology is helping sculpt the industry.

This meeting came on the heels of passing the Patient Protection and Affordable Care Act, which will impact each of the Council members. The members agreed that the legislation was a step in the right direction, but the resounding comments centered on the concerns of cost containment. The Council’s Director of Health Insurance discussed their recent success in the individual health plan market (400% growth in 2009), but are beginning to balance the benefits of increased premiums over increased claim costs.

I was surprised when she also shared that her organization is looking to alter some of their internal processes to better coordinate with government health plans and in some cases become government run.

The Council’s Director of Agencies & Brokers also weighed in on the Bill and shared his concerns on how it will impact small business owners that didn’t previously offer health insurance and the new 3.9% tax on nonwage income. At the same time, he was pleased to see that insurance agents and brokers will be able to sell health insurance both inside and outside of the exchanges.

In each market, they are looking at how they can leverage their existing investment in ECM technology to adhere to this and future federal legislation. This legislation is going to impact every department and they will need to use technology to quickly and effectively adapt to these pending changes.

It will be an interesting road ahead for insurance companies and I’m glad we’ll be in a position to help them take advantage of this legislation…

Part IV: Insurers Focus on Legacy Modernization

// March 15th, 2010 // No Comments » // Insurance // Eric Willis

You might be thinking what option is left, or… is there a bowl of porridge that is “just right?” Although there are risks and rewards associated with the options we’ve already discussed, an option often overlooked is enterprise content management (ECM). A truly enterprise opportunity, ECM affords not just the IT staff and business users opportunities, but because of its ability to facilitate information exchange with insurance core systems, ECM can positively impact an entire organization.

When I initially speak with most insurance executives and they hear the phrase “document management” or read about ECM, the thought that immediately comes to mind is document imaging. While imaging is a component of ECM, to assume that is the sole purpose of ECM is limiting. Insurance organization can combine the data from legacy systems with the modern technology of ECM to reap great IT benefits. Because ECM facilitates and manages the flow of information to and from all authorized channels – legacy systems included – IT departments experience shorter development cycles, lower maintenance bills and reduced support calls, and they have the ability to automate repetitive manual processes. Compared to any alternative, these results are most quickly and easily achieved by combining legacy systems with ECM. Insurance organizations also benefit from a business perspective by pairing the modern technology of ECM with legacy systems.

With both IT and business gaining value from the legacy system-ECM solution combination, long-term alignment of the groups is also a benefit. We’ve witnessed groups work together with joint expectations, efficiencies and objectives at hand that in past were worlds apart. Unlike any other alternative, an ECM solution paired with a legacy system allows organizations to take control of their future and allows room for modifications in response to internal and external changes.

As you know, our industry is embracing change now more than ever before. Insurers are changing their processes and corresponding technology to remain competitive, while minimizing organizational risk. Utilizing ECM in tandem with existing legacy systems provides the best opportunity for insurers to harness the knowledge of their history while ensuring success for the future. Insurers should look for an ECM solution with a development interface designed to empower business users to solve problems across line of business applications. If accomplished, the insurer will have found a way to not only automate processes and ease immediate business pains, but guarantee future success.

Part III: Insurers Focus on Legacy Modernization

// March 4th, 2010 // No Comments » // Insurance // Eric Willis

So… maybe replacement isn’t the answer, but what is? Should you build something new in house or maybe even buy a component and scale out when needed? Both are viable options that several insurers have chosen, but have different benefits and risks to consider.

Option 1: Build a Solution

Benefits
Business Control: When you build a solution internally, you have complete control to match your organization’s exact processes and expectations.
Data Control: An internally-built solution also guarantees strict control over your data and corporate intelligence as it existed in the past and going forward.

Risks
Time Intensive: Like any other major IT project, building a solution yourself will take a lot of time, but for this undertaking you will be responsible for every last detail.
Staffing: Meeting minimum staffing requirements can be a problem for many insurers who opt to build their own solution – after all, if it’s difficult to find enough people to maintain existing technology, it may be impossible to dedicate enough people to build a new solution.
Cost: Although you have internal control of every element, this can sometimes overcomplicate needs and requirements, which drives up cost.

Option 2: Buy a Component and Scale

Benefits
Potentially Inexpensive: Depending on the scope and severity of your most urgent problem, buying a component could be inexpensive in the short-term.
Quick Fix: Also depending on the issue at hand, you may have a solution to a simple problem up and running in weeks instead of months or years.

Risks
Scalability: Depending on what product and vendor you select, future growth and integrations may be severely limited – if at all possible.
Increase Silos: If every department is permitted to purchase a product to solve their most immediate needs, an organization may wind up with a bunch of point solutions that can neither accommodate growth nor interface with each other.
Potential Extensive Coding: Assuming the goal is to not only solve an immediate business need, but to reduce the data from existing legacy systems, the necessary interfaces are often built as one-offs and require extensive custom development and testing.
Performance Issues: If an insurer relies on its ability to weave together a collection of unrelated solutions, performance troubles are ultimately going to surface. With multiple products and solutions from multiple vendors, it is likely that the ultimate system will not result in a trusted, high-performing enterprise solution.

So if these options aren’t the right fit, what is? Next week I’ll share the answer in the fourth and final piece of this series on legacy modernization for insurers. Stay tuned…