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JLT outsource their pension files scanning to Restore

JLT radically overhauls their paper-based business processes with an outsourced document capture solution, resulting in faster customer response times, the elimination of errors and significantly lower communication costs.

Highlights

  • Faster response to pension case enquiries
  • Improved data access and data protection
  • Eliminating errors and lost documents
  • Reduced communication and storage costs
  • Achieving Contract Note compliance and governance targets

Background information

Jardine Lloyd Thompson (JLT) is the world’s largest insurance risk specialist and employee benefit consultancy. With offices in 36 countries, JLT has a strong global presence, serving clients across 120 geographic regions.

JLT’s employee benefits division manages pension schemes, employee benefit programmes and delivers unique software solutions to support these services. Their pension business alone generates an average of 50,000 individual paper items each week and until looking at the alternatives, they had been storing all pension files in paper format. A radical shift in the way in JLT managed their client documentation was needed.

Increased exposure to risk

Individual pension schemes vary in size, both in terms of financial value and in the number of associated documents. With such large volumes of paper moving around an organisation, the risk of errors and lost documents was high. Also, the complex and time-consuming process of retrieving paper-based files was causing delays in responding to customer enquiries.

This manual process also exposed legislative risk for JLT. They faced penalty charges if their Contract Notes were not managed effectively and the delays caused by their paper-based processes increase this risk to the business.

Introducing a digital solution

JLT’s initial challenge was to digitise all their archived pension documents and files. This bulk scanning was carried out at our London ISO 9001 accredited scanning bureau. Once scanned, each archive document was then uploaded into JLT’s own back office document management system.

On a continuous basis, any new pension contracts won by JLT involve the set up of up to 1,500 member files. All paper-based documents are collected from JLT and after arriving at Restore’s scanning bureau in London, each file is logged, prepared, scanned and tagged to an agreed format. All documents are then converted to searchable PDFs, and are uploaded into JLT’s back office system.

In addition, a small scale scanning solution was deployed within JLT, enabling ad hoc scanning to be carried out on site, and with the support and maintenance of all equipment managed by ourselves.

Assessing the business benefits

Prior to adopting an off-site document capture service, the management and retrieval of pension files was taking hours of staff time, but the adoption of a new outsourced service reduced this process to seconds.

Significant business efficiencies were gained from JLT’s increased ability to provide timely responses to customer queries. A reduced reliance on paper based files has eliminated storage costs, improved access and increased data protection. Plus meeting Contract Notes compliance helps JLT avoid non-conformance financial penalties.

And despite this shift to scanning offsite, security is not compromised. The risk of lost documentation or paper degradation over time is high when relying on paper based files. Therefore, JLT’s disaster recovery, business continuity and data protection is now significantly strengthened by the electronic storage and backup of all data.

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