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The Contract Certainty Blog

Document Assembly is ... SEXY?

February 11, 2010 Martin Kett Document Generation  

And the Academy Award for the best Document Automation Technology (for the fifth year in a row) goes to …Exari

Thank you Gwyneth, thank you Brad - wow this is great. You dream of these moments but never really think its going to happen, but here we are and, well, I’m lost for words. I just want to thank some of the unsung heroes behind the scenes that have made this all possible……

…. And then I wake up.

OK, so Document Automation isn't the most exciting thing in the world and it’s hardly going to keep the attention of the person you’re trying to impress at a dinner party, but we think it’s important.

Making key documents more accurate and compliant while producing them faster and consistently anywhere in the world is all very well but it’s not exactly SEXY.

Contracts only really matter when something goes wrong and they are dissected in Court. It’s hard to explain to your boss that implementing document assembly has saved a fortune in legal costs because you are producing tighter contracts because he’ll say “that’s just your job”.

We’re never going to experience the thrill of a Top Gun sortie or hold someone’s beating heart in our hands but we have found a way of making what we do more exciting – by making our customers more money.

In the Insurance industry there is a constant drive to produce new products and get them to market ahead of the competitors to gain first mover advantage. There is a finite (albeit enormous) amount of Insurance premium to go around and in a soft market phase there are lots of hungry mouths to feed. Underwriters and Brokers need to constantly seek ways to help new clients buy more from them and retain the clients they have.

Modern Document Automation technologies are enabling products to be created from scratch, in a fraction of the time it had. Traditional ugly, client unfriendly Wording plus Endorsement Policies are being replaced by dynamic documents that are specifically tailored to each customer. The result is an unambiguous product that is clear and concise. Add to this an improved renewal experience for the client where they only have to amend last year’s answers and you have established a happy and loyal customer.

We are making it easier for clients to submit their proposal information, providing them with a better product and ensuring they stay customers of our customers.

That is leading to more premium, more commission and better bonuses… now that’s sexy.

martin

Martin is Exari's VP of Insurance Industry Solutions.