11 May Leading L&P Company Uses CaptureFast Mobile Capture
This case study explains how one of the leading life & pensions companies has automated their customer onboarding process by using CaptureFast’s mobile capture capability.
One of the leaders of BES (Pension Plan System) providers in Turkey wanted to improve their new customer onboarding process. In order to onboard new customers to their BES product, customers need to fill multi-page paper documents.
The volume of these forms can be as many as 25,000/month, resulting in operational friction when onboarding new customers. In addition to filling out these forms, field agents needed to make sure the forms have the necessary customer signatures and information on Customer’s ID cards match with the information on these forms.
Once filled by new customers, the forms are gathered in a central location, before they are physically shipped to the document processing center. It takes additional 2 days to distribute internally to the right departments from the mail room, and another 2 days to be scanned and processed in the CRM system.
All in all, there is an average of 9-day processing time from the time a customer fills the necessary forms to the time the L&P provider can consider the application processed and completed, resulting in a bottleneck internally for operations teams, and not providing the desired response times to new customers.
CaptureFast Mobile capture solution is leveraged when the field agents are with a new customers, demonstrating the innovative face of the provider from the first touch point.
By digitally sending the application forms, on average, there is a 2-day gain from eliminating the shipment delay. In addition, 80% of the forms are instantly and automatically uploaded to the CRM and BES systems, which used to take 7 minutes per application.
By integrating the CaptureFast Mobile Capture solution to their business processes, the provider also eliminated the delays from distributing the documents internally, which could take 2-3 days.
Thanks to CaptureFast mobile capture, what used to take 9 days to complete can now be finished in 30 minutes. Not only does this allow our client to process significantly higher number of new account openings with the same number of resources, it also improves their customers’ perception the company, showing their agility and dedication to their customers.
Our customer duplicated the success of working with CaptureFast to improve other lines of business such as Life and Health insurance.