HOMESTEADERS LIFE COMPANY SAVES $62,800 ANNUALLY WITH DAIDA’S PAPERVISION PRODUCT SUITE
CLIENT BACKGROUND:
Homesteaders Life Company, founded in 1906, is the nation’s leading pre-need insurance funding provider, offering funeral planning solutions to more than 3,000 funeral homes in 44 states. The mutual insurance company employs nearly 170 people and generated approximately $425 million in revenue with nearly $2 billion in assets.
SUMMARY:
Homesteaders Life Company, a leading pre-need insurance funding provider, partnered with Daida to implement an Enterprise Content Management (ECM) system. By leveraging a suite of powerful tools, Homesteaders Life Company saved $62,800 annually, increased efficiency, and improved customer service.
THE CHALLENGE:
Homesteaders Life Company managed its insurance policies on paper and microfilm, requiring a separate storage room to house millions of documents. Remote paper files and shelves of microfilm made information retrieval a burden to employees, taking anywhere from one to 24 hours to retrieve files. Additionally, some older microfilm images were fading with age, putting critical records at risk.
THE SOLUTION:
Daida introduced Homesteaders Life Company to the PaperVision Product Suite, which included PaperVision Capture, PaperVision Enterprise, and PaperVision Enterprise WorkFlow. This flexible ECM system offered a comprehensive solution to convert paper, microfilm, and microfiche records into electronic documents and upload them into the system, making them easily accessible and searchable.
IMPLEMENTATION:
Daida provided services to convert Homesteaders Life Company’s stored archives to electronic records. Millions of microfilm documents were scanned and imported into PaperVision Enterprise. The company now uses PaperVision Capture to scan new and incoming documents. The implementation process was fast, with all 165 staff members trained in just one week.
RESULTS:
$62,800 saved annually on personnel costs, postage, and reallocated salaries
12 million documents managed electronically
Increased efficiency, improved customer service & enhanced disaster recovery strategies
Only two employees scan and index 18,600 pages of incoming mail each week
Transform your document management processes with Daida!
Save time, reduce costs, and improve customer service by digitizing your records and streamlining your workflows. Contact Daida today to learn how our ECM solutions can benefit your organization.
