Documents are obviously a key aspect of any agencys business, so managing those documents becomes a critical function in day-to-day operations.
While document management software can help increase efficiency and cut costs, however, Pat Borowski, senior vice president of the National Association of Professional Insurance Agents, recommends that agents do a risk analysis on the kinds of documents they handle before jumping in with such software.
“Agencies as businesses and insurance operations have certain record and retention obligations that involve organizing and handling a lot of documents,” says Borowski, who is head of Alexandria, Va.-based PIA Nationals business issues and technology committee. “Its important for agents to identify a plan for areas of records they are obligated to keep.
“How long do you need to keep documents in case something occurs [and you need] the appropriate document to defend yourself?” Borowski asks. Doing a risk analysis can help answer such questions.