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Cabinet NG Expands Its Claim in Insurance Industry With New VAREliminating the Paper Chase for Insurance Professionals (April 09, 2012)
HUNTSVILLE, AL -- (Marketwire) -- 04/09/12 -- Cabinet NG (CNG), provider of electronic document management and workflow management software, today announced it has signed a Value Added Reseller agreement with Maya Assurance Company, a New York City-based insurance carrier licensed to underwrite property-casualty insurance in the State of New York. An existing CNG customer, the reseller agreement will now allow Maya to offer CNG products, including CNG-SAFE and CNG-ONLINE, to other small to mid-sized insurance companies.
"Virtually every business is challenged with managing physical paper, but even more so in a paper intensive industry such as insurance. In the past 10 years alone, the volume of required documents has increased tenfold. Client information is stored in multiple files and inefficient processes affect customer service, increase cost and inhibit growth," said James True, VP of Product Management, CNG. "Improving efficiency and meeting compliance requirements are critical to any company's success. CNG-SAFE is the perfect fit to address those business needs."
Since its founding in 2005, Maya has grown over 40% per year and attributes this in part to using a document management system. Since implementing CNG-SAFE in 2008, Maya realized over $2.5 million dollars in hard savings. Furthermore, over $500,000 per year in ongoing savings are projected based on continued reductions in office space, staff, and legal defense expenses.
"After utilizing CNG's products as a customer for several years, I realized the competitive landscape of the insurance industry was quickly changing and insurance companies needed a better way to manage large volumes of paperwork while still meeting security and privacy regulations," said KJ Singh, vice president, Maya Assurance Company. "After speaking to other companies, management and CEOs, I realized their frustration with other consultants and software companies who did not understand the specifics, nor provide proper solutions. After several brokers, underwriting and claims specialists approached me for assistance, I spoke to CNG and decided to become a reseller. Having been a happy CNG customer for many years, it was a natural and easy choice for us to become one of their resellers."
CNG's products are structured to handle all insurance related documents -- letters, reports, claims, referrals, scans, emails, standard forms, contracts, and phone messages. The solution helps improve client service, increases billable hours and manages risk, while delivering a competitive advantage at an affordable cost. Additional benefits to insurance professionals include:
- Enhanced efficiency across the company; no time wasted looking for claimant or insured files
- Enterprise wide file organization; CNG can be specifically tailored for Claims, Loss Control, Underwriting, etc., requirements
- Improved quality of customer service with clients and regulatory bodies; respond quicker to inquiries; meet compliance and regulatory requirements
- Ease of security, business continuity and minimal overhead with IT operations
- Compatibility with multiple file formats including audio, video, pictures and Internet pages
- Seamless integration with other software applications including QuickBooks and other ODBC compliant software
- Improvement on use of real estate without the need to store filing cabinets and folders; companies can add more work stations to handle more files
- Reduced environmental waste and office supply costs (paper, toner, copiers, ink and other related consumables)
- Competitive advantage to recruit higher caliber workforce that can work remotely full-time
"Maya Assurance is well respected and brings a tremendous amount of industry expertise to the table. As a thought leader who has gone down the paperless path, we are confident Maya is the right choice to help us expand into the insurance industry," said Jon Clark, VP of Sales, CNG. "This vertical fits very well in our strategic growth plans and with Maya's specific industry knowledge, the company can provide deeper insight and a unique value proposition to the industry."
If you are interested in learning how document management is becoming a necessary tool for insurance professionals, visit Cabinet NG and Maya Assurance Company in booth #166 at RIMS'12, April 15-18 in Philadelphia, PA. Quality organizations wanting to discuss partnership opportunities should call 800-621-6501, email [email protected] or visit www.cabinetng.com/partners.
About Cabinet NG:
Cabinet NG (CNG)'s electronic document management software moves manual paper-based processes into efficient document workflows. Its user-friendly products streamline user tasks, delivering gains in office/field productivity and bottom-line savings. CNG's intuitive workflow and scheduling supports secure collaboration with centrally managed and instantly accessible documents. Advanced integration technology ensures smooth workflow and seamless connection to many existing Windows-based business applications. CNG's industry specific configurations help businesses quickly attain a paperless office that scales with business growth. Products can be installed locally or online in a hosted SaaS configuration and used with a desktop or browser interface. www.cabinetng.com.
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