Farmers Home Mutual Adopts Adobe Intelligent Document Platform
Press release from the issuing company
SAN JOSE, Calif.--May 24, 2004-- Adobe Systems Incorporated today announced that Farmers Home Mutual has adopted the Adobe Intelligent Document Platform to automatically generate all the paperwork required for insurance agents to enroll clients for new policies and services. The solution also enables Farmers Home Mutual to efficiently process client information, as well as issue new policies and policy manuals once clients are approved and have accepted the policy terms.
Farmers Home Mutual offers a wide selection of personal insurance products, including auto, homeowners, renters, boat, and flood insurance through a network of more than 1,500 agents in 300 offices throughout Minnesota. Prior to deploying the Adobe Intelligent Document Platform the company estimated that it cost $22 to manually process each of the 27,000 applications it receives each year. With the Adobe Intelligent Document Platform, Farmers Home Mutual can reduce the time to process policy applications from 10 days to one day, and cut data entry costs by approximately $500,000 annually.
"Integrating the Adobe Intelligent Document Platform into our online system enhances agent services and substantially reduces our everyday operating costs," says Frank Raasch, enterprise technology manager at Farmers Home Mutual. "With Adobe solutions, we can enable agents to offer our products to their clients as quickly and efficiently as possible. For instance, the easily accessible online forms contain built-in validation features that handle basic calculations and verify that the right type of information is entered by agents."
The automated processes also minimize the amount of manual data entry required for agents to complete insurance applications, enabling agents to enter all client information in about ten minutes. The Web-based system instantly generates enrollment forms, populating each form field with the required client information. This ease of use helps make Farmers Home Mutual products more attractive to brokers, who can now sell and process more insurance services in less time. In addition, Farmers Home Mutual is planning to use the Adobe Intelligent Document Platform to generate policy booklets for new clients in Adobe PDF. The booklets contain the terms and conditions of an insured's policy, and can be printed and sent to clients, as well as emailed to brokers for their files.
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