Compliance for the Insurance Industry
Insurance providers handling a high volume of documents and records are constantly exposed to the risk of heavy financial penalties and damaged reputation due to legal action or failing external audits.
We help insurers produce an accurate records or audit trail of all the actions and changes performed on an insurance document during its retention lifecycle.
Benefits of a DCS Insurance Compliance Solution
Security and Data Protection
- Formats and records scanned document for legal validity.
- Create granular access approvals.
- Ensures data is separated, secured, and expunged to UK and European standards.
End-to-End Records Management
- Contains automated compliance check schedules.
- Provides access to data metrics, e.g. complaint volume.
- Can tailor metrics like resolution rate.
Coordinate and Trace
- Track document modifications.
- Oversee compliance task modules.
- Audit trails visible on individual users.
Our Audits and Framework
With rising identity fraud and public distrust, failure to comply with GDPR can prove highly damaging and expensive.
We enable insurers to meet wide-ranging compliance obligations from those imposed by HMRC and the Data Protection Act to FSA related requirements such as Solvency II, ICOBS or TCF.
Consistency in Insurance Compliance
You can easily apply consistent policies to records in a variety of media, from web content to archived e-mail messages to scanned images and spreadsheets without any manual data entry.
This lowers the cost of retaining records in accordance with the British Standard for records retention and legal admissibility.
Learn About our Compliance Solutions for Insurers
Filestore provides powerful search features and comes with active compliance and audit trail logging modules, making meeting insurance compliance obligations even easier!
FileStore BPM workflow management software from DCS can help insurers comply with FSA ICOBS and TCF standards for complaint handling.
Automated routing, notifications, reminders and escalations ensure complaints are handled according to set procedures and within the appropriate time frames.
Kofax Robotic Process Automation
Using Kofax robotic process automation, you can automatically tag records for retention, transfer, archive or destruction.
Outsource Your Insurance Document Processing
Manually processing high volumes of paper is a costly and inefficient process. Keying in data is the same way. Our outsourced services is fully accredited and trusted by government and Fortune 500s. Focus your resources on peak activity. Outsource to us today!