Managing documents efficiently, and sharing them among all stakeholders who need secure, transparent access is key to having a faster, more secure claims process. It can also help your clients, as your claims processing can become faster by having all your documents in one single, secure place. Clear documentation also improves the accuracy of your insurance decisions, which is important for your reputation.
The insurance industry is also very regulated to protect sensitive information. Your business must comply with all necessary, applicable legislation.
In the USA, the Health Insurance Portability and Accountability Act (HIPAA) protects medical information. There are also other Data Protection Acts that apply to insurance.
In the UK and EU, the General Data Protection Regulation (GDPR) secures customer information
In Canada, The Personal Information Protection and Electronic Documents Act (PIPEDA) is also important to the insurance industry