Insurance

Automating documents which are complex or used frequently could save significant time and money, particularly if it enables an insurer to bring work back from firms to the in-house team, or enables the business to prepare their own documents directly with less support from the legal team. 

Financial advisers can use document automation to provide truly customised advice to their customers, very quickly and without error.

Use this benefits calculator to test the possible benefits.

How does your company currently use document automation in relation to insurance?

Most insurers will already be using some form of document automation in relation to at least some key documents, but what are you using in areas such as:

  • Proposal forms
  • Policy documents
  • Renewal forms
  • Cancellation notices
  • Releases
  • Disclosure documents
  • Procurement documents
  • Employment agreements
  • Property documents
  • Marketing checklists and other compliance documents
  • Internal forms and correspondence? 

Potential automation benefits for insurers

Insurance is an area where the details really matter.  A single discrepancy, overlooked question or undisclosed issue, could have significant unexpected implications for either the customer or the insurer.  It is essential to be able to work quickly, but also accurately and in full compliance with all regulatory and internal requirements.

HotDocs – LawHawk’s automation provider – is used by over 1,000,000 users in more than 11,000 companies in 60 countries, including many large international insurers. 

See this review from Global Data for FinovateEurope 2017 on the benefits of HotDocs for the insurance industry and HotDocs' comments on the review.

GlobalData HotDocs Review

LawHawk wants to enable similar benefits for insurers in New Zealand.

Potential automation benefits for financial advisers

The benefits of document automation are not limited to insurers themselves.  There are many financial advisers who need to find new ways to provide more customised advice to their customers – before a robot does it for them.  Document automation can provide the best of both worlds – an experienced insurance expert who can truly understand the customer’s unique circumstances and requirements, and then provide very tailored advice in only minutes.

You can automate all types of documents – simple and complex.  Watch the video below to see a draft automated 2002 ISDA Schedule (as at 3 July 2016)

 

Experience LawHawk for yourself

To experience the benefits of document automation for yourself through a free trial, or to discuss how document automation could help you with your insurance or financial advice documents, please click the button below: