About AXA XL
AXA XL Insurance is a financial services company specialising in property and casualty insurance and has more than 7,000 employees. The company has offices in Europe, Asia, Africa, Australia, North America and South America.
Challenge
The process of issuing insurance policies was a very manual one, with extensive typing and substantial repetition of key items such as client names and policy numbers. The historical system was time consuming, lacked consistency and had a high error rate.
Solution
With the implementation of HotDocs, policy libraries were established containing dynamic HotDocs templates to allow policy issuers to quickly and easily generate base policies and the associated endorsements. This also benefitted non-policy issuance staff, who can access the documents for reference but, crucially, are unable to amend – protecting the integrity of the documents. A HotDocs template library was created for each department, grouping the various policies with the appropriate endorsements. All documentation was formatted to company standards and brand guidelines during the process of automation.
Results
As a direct result of deploying HotDocs, policy drafting became a shorter, more consistent process that removed a substantial backlog and improved the quality and accuracy of the document sets. With faster drafting directly from the template library, rather than by hand, team members were able to increase time and effort in other areas of their jobs. Costs were saved not only because of the faster policy issuance time, but also because of a reduced demand for print. Policies were more frequently sent to clients as emailed PDFs, rather than hard copies. Technical Underwriter, Rachel Thomson, said: “HotDocs provided us with an improved policy issuance system, which eliminated past backlog and provided accurate and timely policies, thus improving customer service. The library also ensured the integrity of our policy documents was protected.”