Security plays a crucial role in the insurance industry due to the sensitive nature of the data involved. Particularly in the case of insurance brokers who deal with confidential information, including personal details, financial records, and medical history. They need to manage their content securely to reduce the risk of data breaches and maintain their clients’ trust. For over a decade, Paperclip has been at the forefront of providing secure enterprise-level content management solutions, revolutionizing the way insurance brokers manage their valuable assets.
“We focus on helping our customers improve their operations and safeguard critical data with innovative solutions that address their needs,” states D. Michael Bridges, President and COO of Paperclip.
With a laser-sharp focus on solving content management issues commonly encountered by organizations, Paperclip offers various products built with client needs top of mind. Each Paperclip solution is purpose-build to solve a common problem in the industry. And with 32 years of experience in this space, the team has a pulse on exactly what solutions can create more efficiency for their clients.
At the heart of its offerings is Paperclip SAFE®. A secure content management solution that employs advanced encryption and access controls to ensure complete security of client data. It leverages privacy-enhancing computation (PEC) and Paperclip’s patented shredding protocols, combining state-of-the-art cybersecurity with data storage and retrieval advancements. Consequently, even if cyber criminals manage to hack the system and access the data, they get nothing more than a shredded mix of disparate pieces of data.
“We have three US patents, a fourth pending [and] we have eight foreign patents,” says Bridges. “What we do is unique. We are excited to offer our supply chain the most secure way to process business.”
Paperclip’s ground-breaking e-signing solution, eM4 POA, is specifically designed to simplify the e-signing process for the brokerage community. It offers a simple “click and close” process by which brokers can eliminate setup requirements and quickly initiate the e-signing process without additional configuration. It automatically encrypts messages and their attachments firewall to firewall and ensures that documents remain untouched throughout the signing process, maintaining the integrity of the e-signed document. eM4 can also be easily integrated with Paperclip’s document management systems. Whenever the signed documents come back, users can forward them to carriers using Paperclip’s Internet Express, a web-based document delivery service that allows users to send and receive files securely and conveniently.
Brokers are struggling with fragmented workflow and data access gaps due to the rapid adoption of Electronic Forms (EF) brought about by the onset of COVID-19. Paperclip’s Mojo emerges as a game-changing solution to bridge these workflow gaps. Mojo accurately transcribes data harnessing the power of machine learning. It populates the agency management systems eliminating data entry, allowing the case managers to focus on servicing the agents.
“Mojo provides the opportunity for our customers to do more with less, freeing up valuable resources to do what they need to—servicing customers—not data entry,” stated Suzy Tuck, Paperclip SVP of Sales.
The customer-centric approach to client engagement is the cornerstone of Paperclip’s success. The team takes the time to deeply understand the unique needs of their clients and tailor solutions accordingly. Meanwhile, a culture of continual innovation embedded deep inside Paperclip’s DNA enables the team to stay ahead of the latest industry trends and technological developments to provide their clients with the best possible solutions.
One remarkable example of Paperclip’s customer-centricity involved a large financial institution struggling with managing vast amounts of data across multiple systems. They conceded to many human errors regarding data entry in the commission module, as each carrier had its way of presenting commission statements.
Recognizing the magnitude of the challenge, Paperclip made some modifications to their Mojo solution that enabled clients to drag and drop unstructured data of a PDF into the platform and deliver a a normalized CSV file across carrier commission statements. The client can now import that data into the agency management systems or the commission modules, eliminating training, removing unnecessary touchpoints while improving the accuracy of the data management process. The result was vast time and resource savings and a significant reduction in the risk of data breaches.
Whether through its innovative products, exceptional customer service, or unwavering commitment to excellence, Paperclip is the go-to partner for insurance brokers looking to optimize business operations with maximum protection.