Claims Upgrade Pays Dividends

Between paperless processing and simplified workflows, Farm Bureau received full ROI within a year of implementation.

Insurance Networking News, May 1, 2012

Justin Stephani

Farm Bureau Life Insurance of Michigan is indicating annual savings of $230,000 and full ROI from a claims upgrade implemented less than a year ago, according to a recent case study from ImageSoft.

More than a quarter of Farm Bureau’s savings comes from paperless solutions, including eliminating the printing of around 65,000 faxes in the first six months. With electronic routing in place, fewer clerical tasks are performed and a smaller staff is needed for handling the workload.

These results did not come without trials. According to ImageSoft, during the six months following implementation, Farm Bureau experienced three catastrophic claim events, one happening days after implementation. 

Farm Bureau reports that the initial OnBase implementation involved 80 users in the auto claims processing department. Since then, staff from Medical and Workers’ Compensation claims processing have also been added to the mix; Farm Bureau is also extending OnBase workflow to staff working property/casualty claims in regional offices.

OnBase was integrated with Farm Bureau’s claims handling system, CHS+, a “home- brewed” application running on a Citrix platform. CHS+ sends information to OnBase in near real-time to keep the two closely synchronized. The work associated with settling and paying or denying claims is still done primarily within the claims processing system.

For more information on related topics, visit the following channels:

• Claims