Mitsui Sumitomo Insurance Customer Story
Mitsui Sumitomo Insurance is Helped by Alfresco to Manage and Store Policy Critical Documents
In early 2015 Mitsui Sumitomo Insurance Group’s London and UK (Lloyd’s Syndicate 3210) operation was part of the MS&AD Group, one of the ten largest non-life insurers in the world with assets of over £96 billion and annual net premiums in excess of £15 billion. Based in London, the business wrote international wholesale insurance across multiple product lines in Lloyd’s of London and through a network of regional businesses across the UK and Ireland as part of the wider group, which has more than 320 offices in over 40 territories around the world.
As part of one of the largest insurance companies in the world, Mitsui Sumitomo Insurance Group in London had to manage and store huge numbers of business critical documents and content.
Additionally, in a highly regulated industry, the different statutory requirements for handling and preserving documents creates a significant challenge for insurers; for example, some records relating to employer’s liability insurance must be kept for as long as 60 years.
“Before implementing Alfresco, documents involved in the underwriting of policies and the handling and processing of claims were primarily managed via sources as diverse as scanned images, paper and through e-mail, and despite having an underwriting platform with a related content store it lacked the flexibility and workflow to really streamline our content handling. Driving for efficiencies and digitalizing the process was proving difficult. The challenge was significant and growing” said Richard Williams, Mitsui Sumitomo’s then CIO.
Underwriters and claims handlers used shared drives and e-mail to share key client documents prior to laboriously uploading them to the core-underwriting platform. This made overall process control and visibility difficult.
The UK operation of the insurance giant needed a modern, enterprise document management platform that could work to improve its existing workflows and be easily integrated to improve its internal processes and to drive the digital transformation within the business.
After evaluating several enterprise document management solutions for out-of-the box functionality and ease of integration with Outlook – as well as its other existing platforms – Mitsui Sumitomo chose Alfresco One together with the business process management capability from Alfresco Activiti.
“Alfresco is an elegant and contemporary solution that enabled us to quickly identify new digital flows and use cases for how we handled documents. We were able to quickly digitize our document-related processes and get them live in front of users,” Williams said. “Alfresco’s open architecture also allowed us to quickly develop our application ecosystem into something that was much more user friendly and future proofed with the ability to support mobility and more widespread, controlled and audited sharing capabilities.”
Within six weeks of implementing the new solution and workflows with Alfresco One, back office processes had already become more efficient. The Outlook integration with Alfresco One also provided a more streamlined environment for users to access the document library directly from within Microsoft Outlook, overcoming a key objection that could have prevented adoption.
“Implementing the Alfresco platform enabled a much finer-grained search capability and rich process management which allowed users to use the tools they access every day to quickly and easily find the content and documents they require and to make the timely decisions that are core to an insurance business.,” said Williams. “In doing so, Alfresco was also very responsive in listening to our requirements and helping us plan for the future needs of the business.”
Every underwriter and claims handler at Mitsui Sumitomo Insurance Group in the UK and Ireland adopted the Alfresco platform for case management, claims processing, data reporting and maintaining regulatory standards.
Almost 6 TB of documents – as well as e-mails, scanned documents, video clips and photographs – have all been migrated into the Alfresco platform. Users can easily upload, categorize, store, find and view customer data across the whole company and handling rules are easily applied to everything entered into the repository, greatly reducing the opportunity for user error and associated processing and compliance risks.
“The power of Alfresco is that users are confident that business critical content involved in the claims and underwriting process is searchable, secure and available in one, central location without having to go out and hunt for it,” said Williams. “Implementing Alfresco One with Activiti made it a lot easier for employees to follow the best process to manage and archive the content they create, handle and approve, and could do so at an order of magnitude more efficiently than before.”