Insurance plan communications can easily cost companies millions of dollars each year. The sheer volume of production is substantial, even as some consumers switch to digital-only. These documents also have personal information, so safeguarding it is another added cost to the operation.
Many insurance companies believe that keeping this in-house is the only way to protect the contents and meet compliance. However, a transactional printer could be the partner you need to get these expenses off your budget. What makes them so different and trustworthy?
Transactional printers specialize in creating confidential and protected communications, following every compliance protocol and security best practice.
If you’re still undecided, keep reading to learn why a transactional printer is an insurance company’s best friend.
Outsourcing Drives Cost Savings
The leading reason most insurance companies outsource is for the cost savings. Operating an in-plant is a huge expense. Equipment, technology, labor, space and storage, materials, and postage will cost you more in this model. It’s not sustainable long term, and that budget will continue to increase.
Outsourcing eliminates most of those costs and requires no capital expenditures. Plus, transactional printers offer better pricing on materials and postage because of their high volume.
Every business is looking to reduce costs enterprise-wide. This is an opportunity to do just that without any concerns regarding quality, security, and compliance.
Outsourcing Is Secure with a Transactional Printer
One reason some insurance providers are hesitant to outsource relates to security. Data sharing is necessary. However, your data will always be secure with the proper protocols in place, including encryption, firewalls, and intrusion prevention systems. APIs are the safest avenue for two-way data communications.
Outsourcing Boosts Accuracy
How accurate are your insurance plan communications? Mis-mailings can happen to any business without the proper workflows in place. Accuracy improves with technology and standardized processes. Transactional printers use sophisticated technology and Six-Sigma quality processes to do this. Barcodes and small cameras verify that each document goes into the correct envelope. We use this combined model of best-in-class technology and LEAN manufacturing in our transactional printing and have an industry-leading 99.9999% accuracy.
Outsourcing Improves Compliance
In insurance communications, you have to follow regulatory guidelines to be compliant. These are non-negotiable, but again a strength of a transactional printer. All their procedures are compliance-driven. They have the certifications and protocols to enhance compliance at every step. Additionally, most have a compliance officer on staff that owns this and stays up to date on any changes.
Outsourcing Ensures Little to No Downtime
When you trust a transactional print and mail provider, you must be confident that disruptions are rare. Any downtime could force non-compliance or delayed mailings angering customers.
While you can’t eliminate all the risk of a disaster causing downtime, you can choose a printer who operates redundant operating facilities.. With this in place, you’ll have peace of mind knowing that in event of a business disruption, you’ll be covered.. It’s likely a step up from your internal operations currently.
Outsourcing Allows for Targeted Communications
Each insurance plan communication is unique based on the holder. That’s a given, but there’s an opportunity to personalize it further on introductory pages. With a dynamic print environment, you can customize messaging to customers that could promote other services, announce new upgrades, or inform them of any changes.
Having it on those pages means it’s more likely to get attention than if it were an insert. It’s one more way to connect with your customers and possibly generate more revenue.
Outsourcing Provides Transparency
Are you questioning outsourcing because you think you’ll have less visibility into operations? That’s not the case with some providers. You’ll have access to a secure platform that offers a 360-degree view of production. It enables tracking of jobs and monitoring communications from print to delivery, all in an easy-to-navigate dashboard.
PCI Group: Your Transactional Printer for Insurance Plan Communications
It’s a great time to reconsider outsourcing. You’ll save money while improving security, compliance, accuracy, and more. Find out why so many insurance companies trust us to print and mail their documents today.