Impact Insurance How Carriers are Leveraging Customer Driven Processes to Drive Revenue Growth, Profitability and Compliance

2 of 16INDEX

Cop

yrig

ht ©

201

2, K

ofax

, Inc

. All

right

s re

serv

ed.

CONTACT

Index

Impact: Insurance ................................................................... 3

Key Insurance Challenges ...................................................... 4

The Kofax Solution ................................................................. 5

Customer Engagement .......................................................... 7

Operational Efficiency ............................................................ 9

Regulatory Compliance .........................................................11

Conclusion ............................................................................. 13

Valued Customers ................................................................ 14

Contact .................................................................................. 16

3 of 16INDEX

Cop

yrig

ht ©

201

2, K

ofax

, Inc

. All

right

s re

serv

ed.

CONTACT

Impact: Insurance

Deliver Maximum ImpactInsurers in every market are seeking new formulas for success.

The goal: To deliver maximum impact on those critical aspects of the business that

drive growth, profitability, and customer loyalty.

Customer EngagementEnergize and enrich customer relationships with world-class responsiveness,

transparency and proactive communications. Drive customer satisfaction by arming

agents and reps with authoritative, real-time information.

Operational Efficiency Cut overhead by turning document management and information workflow into a

fast, accurate, touch-less process from start to finish. Make faster, better decisions

with instant access to data and documents from anywhere in your enterprise.

Regulatory Compliance Secure your critical documents and information with a unified content system that

minimizes human touch-points and the risk of data breaches. Ensure compliance

with built-in workflows and secure, efficient archiving solutions. And stay current

with fast-changing regulations with flexible solutions that are easily updated.

Today’s insurance CIO faces the demand to support growth and profitability, increase focus on the customer, and develop new data capabilities to support regulatory demands and other business imperatives.

“ “

David Hollander, Ernst & Young

October, 2012

4 of 16INDEX

Cop

yrig

ht ©

201

2, K

ofax

, Inc

. All

right

s re

serv

ed.

CONTACT

Key Insurance Challenges

An Evolving Landscape

Insurers are facing an array of tough new pressures.

Many are dealing with a radically changing marketplace driven

by intense competition, an empowered consumer and massive

regulatory mandates.

An Unpredictable Market Many businesses — and insurers in particular — are grappling

with unprecedented global catastrophes and economic

volatilities that have rocked their bottom lines.

A Perfect Storm A radically changing workforce combined with a newly

empowered, tech-savvy consumer whose loyalty is no longer

assured is creating a perfect storm of market forces – one that

challenges insurers’ profitability, growth, and brand loyalty like

the industry has never experienced before.

Global Catastrophes

Changing Workforce

Economic Uncertainty Regulatory Compliance

Technology Consumerization

Profitability6Increase RevenueReduce Expenses

Maintain Compliance

PROFITABILITY

5 of 16INDEX

Cop

yrig

ht ©

201

2, K

ofax

, Inc

. All

right

s re

serv

ed.

CONTACT

The Kofax Solution

Move Confidently into the Future The good news is there are abundant opportunities for insurers to seize a competitive advantage by embracing smart, innovative

strategies. That’s why more and more insurers are adopting enterprise capture technologies from Kofax to move confidently

into the future.

Accelerate Your Information Management Kofax empower carriers to manage information with unprecedented speed and accuracy – and harness it in new ways to drive

growth and profitability. With Kofax Capture Enabled Business Process Management, insurers are seizing the initiative by

delivering outstanding customer service, ultra-efficient claims processing,

creating greater business insight and total regulatory compliance.

Leverage the Power of Mobile and Web Portal The Kofax difference starts with capturing documents at the Point of Origin™ --

and then extracting and classifying information with error-minimizing technologies.

And now with Kofax Mobile Capture, you can use smartphones and tablets to

capture documents anywhere your customers and agents roam.

6 of 16INDEX

Cop

yrig

ht ©

201

2, K

ofax

, Inc

. All

right

s re

serv

ed.

CONTACT

Kofax Capture Enabled Solution

A Powerful Capture Integrated BPM SolutionWith Kofax’s Capture Enabled BPM, organizations can

automatically capture, classify, extract and validate information

through a touchless process – and then insert the right

information into their business processes, applications, and

content repositories. Kofax’s best-in-class platform manages

every type of document, including paper forms and records,

faxes, emails, texts, Web downloads, and more.

Energize and Enrich Customer Relationships by merging information from every channel and proactively

communicating with customers, patients, and partners.

Drive Customer Satisfaction

by arming you agents and customer service reps with

authoritative, real-time information on any customer query.

Reduce Typical Application Processing

Attract New Business with world-class responsiveness – from onboarding to inquiries to claims processing

enabling faster response to new business opportunities.

7 of 16INDEX

Cop

yrig

ht ©

201

2, K

ofax

, Inc

. All

right

s re

serv

ed.

CONTACT

Impact: Customer Lifecycle

NEW BUSINESS& Underwriting

CLAIMS Management

CUSTOMER Service

THROUGH BETTER

CLIENT ENGAGEMENTS ACROSS THE ENTIRE

CUSTOMER LIFECYCLE

accuracyspeedresponsivenesstransparencysecurity

IS UNIQUELY POSITIONED TO HELP

INSURANCE CARRIERS DRIVE

REVENUE GROWTHKOFAX

8 of 16INDEX

Cop

yrig

ht ©

201

2, K

ofax

, Inc

. All

right

s re

serv

ed.

CONTACT

Impact: Customer Engagement

The Power of Customer Experience A modest improvement in customer experience at a $10 billion insurance carrier will increase customer loyalty

and boost revenue by approximately $298 million and just a 1% increase in customer retention increased annual

premiums by $1 million. Source: Forrester Research, February 17, 2010

Maximize the Customer Experience While products and pricing still matter, what increasingly attracts and keeps customers are their personal experiences with insurers at key points in the relationship. Kofax is helping carriers jump ahead of the curve with solutions specifically engineered to enhance the customer experience.

Develop a Long-Term Relationship Our solutions build customer satisfaction and loyalty with greater claims-process speed and transparency. We improve customer interactions by equipping agents with all the documents and evidence they need to answer queries with authority.

A Relationship of Trust We help insurers build trust and loyalty by reaching out to policyholders with automated notifications and providing convenient, online access to claims and policy information.

CHALLENGES

responsiveCUSTOMER SERVICE

greaterCUSTOMER SATISFACTION

growingCONSUMER EMPOWERMENT

switchingCARRIERS IS EASY

tech-savvy& INFORMED CONSUMER

RESULTS

lowerATTRITION RATES

9 of 16INDEX

Cop

yrig

ht ©

201

2, K

ofax

, Inc

. All

right

s re

serv

ed.

CONTACT

Impact: Customer Engagement

Ecclesiastical Insurance Group Ecclesiastical is a specialist insurance and financial services company specialising in charity insurance , education insurance , heritage insurance and care insurance alongside a range of other insurance and financial services products.

“75% of our users believe [capture and BPM] help them

provide a more consistent level of service to customers.”

David Green, Program Manager,

Ecclesiastical

SITUATIONTHE COMPANY EXCEEDED ITS

CAPACITY TO MEET

CUSTOMER EXPECTATIONS

AND ADAPT TO THE INDUSTRIES RAPIDLY

CHANGING BUSINESS MODEL

New entrants and a soft market puts pressure on rates & margins

SOLUTIONRE

SULTS

quick &intuitive

USERS RAPIDLY EMBRACED THE SYSTEM

Reduction in Task Allocation Time

5x

Kofax Capture™— New Business/Underwriting

Reduced costly & inefficient manually

intensive processes by

60%providing significant capacity for growth

10 of 16INDEX

Cop

yrig

ht ©

201

2, K

ofax

, Inc

. All

right

s re

serv

ed.

CONTACT

Impact: Operational Efficiency

Powering Efficiency A major North American insurer more than doubled the productivity of its claims processing staff with Kofax capture

enabled BPM and a major U.S.-based insurer says that deploying Kofax document-automation technologies will enable

it to sustain its rapid expansion into China.

Next-Generation Enterprise Capture and BPM Technology As insurers address sweeping industry wide changes, they are turning their focus toward re-engineering the enterprise to achieve new cost efficiencies in claims processing workflow and other core business functions. That’s why more insurers are taking a closer look at next-generation enterprise capture technologies specifically designed to speed workflow processing, improve accuracy, and cut costs.

Accurate & Better Decisions Faster With Kofax, insurers are dramatically cutting overhead by turning document management into an accurate, touch-less process from start to finish. They are seizing more business opportunities by giving agents and sales teams the right information at the right time. And they are making faster, better decisions.

CHALLENGES

automatedINDEXING & ROUTING

reducedMANUAL PROCESSING

increasedACCURACY

slowRESPONSE TIME

costlyPROCESSING ERRORS

agingWORKFORCE

RESULTS

fasterPROCESSING

improvedCOMPLIANCE MANAGEMENT

increasingVOLUMES

higherLABOR COSTS

11 of 16INDEX

Cop

yrig

ht ©

201

2, K

ofax

, Inc

. All

right

s re

serv

ed.

CONTACT

Impact: Operational Efficiency

Allianz Insurance & Asset Management The Allianz Group is one of the leading integrated financial services providers world-wide. With 142,000 employees worldwide, the company serves over 78 million customers in more than 70 countries.

“The results speak for themselves: faster and more transparent processes, lower

costs, satisfied suppliers, and an always up-to-date

view of the company’s cash-flow situation.”

Sven Rossbach, CEO & COO Allianz Business Services

SITUATIONTHE COMPANY RECEIVES

OVER 100K DOCS PER MONTH

50k CLAIMS60k EMAILS

WITH COVERAGE OF UP TO

8 LANGUAGESManual processing of documents

weakened competive position

SOLUTIONRE

SULTS

increasedproductivityIN THE BUSINESS OVERALL Achieved Higher

Validation Rates

Kofax Capture™— Customer Service — Digital Mailroom

Reduced processing time from 4 DAYS

6to just a few hours

12 of 16INDEX

Cop

yrig

ht ©

201

2, K

ofax

, Inc

. All

right

s re

serv

ed.

CONTACT

Impact: Regulatory Compliance

Improved Compliance Kofax Transformation Modules provide a controlled IT-based framework for gathering sensitive customer data as

soon as it enters an organization and delivering it quickly into a secure repository. Powerful data validation capabilities

ensure that the data is correct and that content retention and security policies can be applied more reliably.

Regulations and Consumer Protections Compliance has emerged as a critical business imperative for insurers. Whether it’s the maze of U.S. legislation known as Healthcare Reform, the E.U.’s Solvency II initiative or other regional set of requirements insurers are seeking ways to turn the burden of regulations and consumer protections into a competitive advantage.

Meet Requirements and Minimize Risk With Kofax, healthcare and other insurers are meeting compliance requirements and minimizing risk with touchless information workflows and securing critical documents with a unified, fully protected content system.

Cost-Saving Solution Studies show that insurers can reduce errors by 80% or more by automatically extracting, classifying and validating claims using Kofax enterprise capture solutions. Carriers are also protecting against fraud, double payments and lost documents with seamless information transfer between business applications.

CHALLENGES

reducedHUMAN TOUCH POINTS

automatedARCHIVING

ever changingREGULATIONS

regional

timely

RESULTS

adaptabilityREQUIREMENTS

AUDIT RESPONSE TO CHANGING REGULATIONS

13 of 16INDEX

Cop

yrig

ht ©

201

2, K

ofax

, Inc

. All

right

s re

serv

ed.

CONTACT

Impact: Regulatory Compliance

Aviva Aviva is a multinational insurance company headquartered in London. It is the sixth largest insurance company in the world measured by net premium income and has around 43 million customers across 21 countries.

“There hasn’t been a single case of confidentiality

breaches. We are cutting this risk substantially.”

Hema Jayaseelan, Document Management,

Manager.

SITUATIONRAPIDGROWTH

OF CLIENT BASE AND PRODUCT PORTFOLIO

VOLUME PUT CUSTOMER SERVICE LEVELS AT RISK

Company faced growing burden of insurance and financial regulations

SOLUTIONRE

SULTS

Singapore Evidence Act

AWARDED CERTIFICATION Cost Reduction

8x

Kofax Capture™— Customer Service — Digital Mailroom

Better customer service through improved

SPEEDaccuracy, security and

responsiveness

14 of 16INDEX

Cop

yrig

ht ©

201

2, K

ofax

, Inc

. All

right

s re

serv

ed.

CONTACT

Conclusion: The Way Forward

New Strategies for a New Marketplace In a marketplace defined by choosier customers, tougher regulations, and profit pressures, insurance companies are concentrating

their investments in strategies designed to transform the customer experience, streamline compliance programs, and boost the

bottom line.

Meeting the Challenges Ahead With its best-in-class enterprise capture solutions, Kofax enables insurers to meet the challenges ahead with touch-less

information flows that drive world-class customer service, reduce cost and risk, increase sales efficiency, and consistently meet

regulatory mandates.

Putting Kofax Solutions to Work The proof of our value is in the success of customers. As shown in the following

pages, many of the world’s most successful and faster growing insurance

companies rely on Kofax to take on the future with confidence.

15 of 16INDEX

Cop

yrig

ht ©

201

2, K

ofax

, Inc

. All

right

s re

serv

ed.

CONTACT

Our Valued Customers

of the TOP 12 P&C INSURERS1

7 7of the WORLD’S 10 LARGEST INSURERS2of the TOP 21 LIFE INSURERS1

11

16 of 16INDEX

Cop

yrig

ht ©

201

2, K

ofax

, Inc

. All

right

s re

serv

ed.

CONTACT

Contact

UNITED STATES

Kofax, Inc. Headquarters: 15211 Laguna Canyon Road Irvine, CA 92618-3146

General inquiries: +1 949 783 1000

UNITED KINGDOM

Kofax UK Ltd. 1 Cedarwood Chineham Business Park Basingstoke, Hampshire RG24 8WD

General inquiries: + 44 (0) 870 777 3767

1. Customer Experience Index 2010: Insurance Providers, Forrester Research, February 17, 2010

2. American Customer Satisfaction Index, quoted in “Insurance Providers: Improving Customer Retention through the Contact Center” white paper by Jacada, 2008

3. Insurance Technology - CRM in Global Insurance, Datamonitor, 2008; quoted in “Insurance Providers: Improving Customer Retention through the Contact Center” by Jacada, 2008

4. A study by the Wharton School cited in Eight Strategies for First Rate Customer Service, Cisco Innovators, www.cisco.com, January 2008

5. “Enabling Seamless Service Across the Enterprise,” Doug Smith, VP Globalization, Service & Administration, Unum, IASA Executive Education Roundtable Series, May, 2011

6. Financial Services Customer Experience Survey, Maritz, 2008. (quoted in “Insurance Providers: Improving Customer Retention through the Contact Center” by Jacada, 2008)

1 Ranked by market cap. AM Best June, 2011 2 Ranked by non-banking assets, AM Best Jan, 2012