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Folksam Sports Insurance is a division of one of Sweden's largest insurance carriers, Folksam Idrott. Covering approximately 90 percent of the country's sports insurance needs, Folksam continually has an eye on process improvement. As claims processing times had reached more than three weeks, sometimes upwards of four weeks—higher than industry standards—Folksam implemented the OnBase enterprise content management (ECM) solution. As a result, the carrier has reduced the time it takes to process a claim to less than a week and realized additional savings in multiple areas.
Benefits
- Reduces Claims Processing times 300 percent
- Increases customer service levels
- Improves employee satisfaction
- Increases employee productivity
- Reduces office space required to store documents
- Maintains staffing levels, despite 10-20 percent increase in business
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