Case Study – Insurance
National Life of Vermont
New Correspondence Solution Improves Effectiveness by 30%
National Life of Vermont (NLV) is one of the most well established AA rated insurance providers in the United States. The company serves more than 250,000 policy owners with insurance, financial and estate plans intended to protect individuals, families and businesses against financial hardship. NLV is licensed for business in all states and the District of Columbia. Its portfolio of products are delivered through 40-plus general agencies by approximately 3,500 agents and brokers located primarily in major metropolitan areas.
National Life of Vermont's Electronic Forms and Publishing Team (EFPT) is responsible for producing printed output including forms, correspondence, documents and graphics. These mechanisms constitute the primary method of internal and external delivery to NLV departments and network agencies, and to customers and clients, respectively.
NLV proposed to implement new processes and technology to maximize its document production capabilities. This was not only an acknowledgment of the competitiveness and volatility within the insurance industry, but of the impending customer demand for more timely, accurate and personalized published information.
NLV conducted detailed testing procedures using Document Sciences' document creation and composition tool. The test pilot was applied to a representative cross-section of NLV's in-house produced documents. Based on the results, NLV selected the Document Sciences' solution, including a policies and contracts application that features document management tools used for the creation, revision, management and assembly of policy components.
The Document Sciences solution worked well within NLV's existing computer infrastructure. The client, a PC-based Windows® environment, is where much of the development work occurs for creating and maintaining new documents or sets of documents. The server options included PCs, mini-computers or mainframes. NLV chose to use its IBM® mainframe as the server configuration.
NLV information is contained in the company's database. All relevant database content such as data, text or graphic information is normalized and coupled with a set of user-specific rules and styles to compose the information. The results are then automatically processed for output to multiple devices.
National Life of Vermont projected that the full implementation of the Document Sciences solution would result in tangible cost savings in several production areas. The company conservatively forecasts a three-year cost savings between $1,042,080 and $1,543,848.