LEXINGTON INSURANCE INTRODUCES NEW DISASTER RECOVERY SOLUTION
We convert Lexington’s backlog of paper-based client files at their offsite scanning bureau, freeing up Lexington staff and reducing their business risk...
- Structured outsourced process guaranteeing fast file conversion
- Elimination of all backlog paper files enabling secure offsite storage
- Improved electronic indexing system
- Increased efficiency of Lexington staff
- Implementation of a disaster recovery solution
Lexington Insurance Company is a US based surplus lines insurer within the Chartis Group of Companies - a member of the American International Group. Lexington offers insurance coverage across property, casualty and personal lines for a variety of risk classes.
Faced with increasing regulatory pressures, a strong disaster recovery programme is essential for any organisation with large volumes of incoming documents. Lexington’s current document capture processes resulted in an accumulation of paper-based files, exposing the organisation to risk and slowing down information retrieval.
A risky reliance on paper-based files
Lexington had been scanning all policy documents in-house and storing the original hard copies offsite. After conducting an internal audit the firm identified that this method was having a negative impact on business continuity. Plus a large backlog of unprotected documents highlighted the need to find a solution.
An in-house scanning solution had been installed by our technical team one year ago, but as volumes had increased and a backlog of hard copy files had built up, Lexington Insurance Company needed an outsourced service that could cope with high volumes of paper.
A managed outsourced service
All financial documents, dead quotes, claims and policy related files are sent to Restore’s London scanning bureau where they are scanned, indexed and uploaded back to Lexington. All paper documents are then sent to Lexington’s storage suppliers for archiving.
A service level agreement was established, guaranteeing a pre-defined number of boxes and quantity of paper documents to be scanned each week. Also built into the contract was a fast track service, giving Lexington the option to have ad-hoc urgent documents returned to them at a quicker speed.
A team effort
The new offsite service we delivered manages the full scanning process on behalf of Lexington Insurance Company, removing the need for the organisation to manage complex business processes or to invest in capital equipment or staff overheads.
With a structured process established to manage the conversion of their client files, instant access to business critical information, easier file sharing and the immediate creation of electronic files all contribute to providing a watertight disaster recovery solution.
And despite strong SLA's, this service remains flexible. The ability to process especially urgent files at faster speeds ensures day-to-day business transactions are not constrained by sending their files offsite. As a result, Restore’s work with Lexington Insurance Company will continue into the future as the organisation looks to further enhance their backup internal document capture processes.