Case Study – Wealth Management
Allmerica Financial
Personalization and Data-Driven Graphics Increase Customer Satisfaction
Allmerica Financial is a leading provider of insurance products and financial services, managing more than $14 billion in assets. They produce a high volume of documents, including quarterly annuity reports for clients worldwide. Allmerica Financial uses strong graphical elements like charts and graphs on their financial statements to illustrate complex financial concepts in composite snapshots.
Allmerica Financial wanted to expand its market and open new distribution channels for its reports and services. They knew that to attract potential clients, their annuity statements and other documents needed to be easy to understand and offer value above and beyond what their competitors in the financial marketplace offered.
Allmerica Financial needed an advanced software system to manage and automate their production of presentation-quality financial statements. Because of the large numbers of documents they produced and their need to print from a variety of different printers, Allmerica Financial needed a system with high-speed processing and multiple output capability. They also needed a system with the flexibility to customize statements with components tailored specifically to each client.
Allmerica Financial chose software from Document Sciences to address their needs. They conducted thorough research and assessed many software solutions before selecting the Document Sciences' solution for its advanced content automation, component management and data-driven graphics capabilities.
The Document Sciences solution has a convenient and simple user interface that automates even the most complicated graphical page layouts. Each annuity statement is personalized so that the clients can see their allocation mix at a glance, while increasing production speed of quarterly statements.
Document Sciences offers the type of fully integrated content automation solution that Allmerica Financial requires for its fast-paced and constantly growing financial business. Documents can be viewed online, modified on-the-fly, and output to multiple formats, including paper, the Web, or onto a CD-ROM, so that Allmerica Financial can distribute its financial statements in any media format. According to Ted McGahie, senior consultant for Allmerica Financial, "Feedback from our customers on the new statements has been very positive." Tom Liro, Allmerica Financial's director of administrative services agrees, "The clients see and understand their account information much more easily, and that reflects in a very positive way on Allmerica Financial."