Preventing any risk by migrating to M-Files

The Problem To Be Solved

Captive Alternatives recently encountered a burgeoning need to improve the insurance renewals process for both the CapAlt team and their clients. In order to accomplish this, TEAM IM was to work with CapAlt to clean up and streamline the M-Files vault structure, as well as migrate the vault from an on-premises environment to the M-Files Cloud, bringing the software up to the latest version on a well maintained infrastructure.

To ensure a smooth transition, TEAM IM would integrate the M-Files vault with Captive Alternatives’ Salesforce CRM to aggregate data for categorizing and processing client data and roll out a web portal to improve and streamline collaboration between CapAlt and their clients.

Why Solving The Problem Was Important

The simple fact is that the routine processes Captive Alternatives had been utilizing were limiting their growth. Investing in upgrades to their software and services allowed them to automate some of those routine processes and provide their clients with a self-service web portal. These upgrades would serve to both reduce the strain on their staff and empower clients to accomplish a number of their tasks and goals without the need for a customer service engagement.

How TEAM IM Got Involved

M-Files introduced CapAlt to TEAM IM because M-Files believed TEAM IM’s skilled resources, coupled with years of lessons learned and best practices, would be an ideal partner to assist CapAlt with their objectives.

When CapAlt engaged TEAM IM, they needed assistance with solving their business requirements using M-Files to:

• Improve the insurance renewals process for the CapAlt team and their clients.
• Migrate CapAlt’s M-Files vault from an on-premises environment to the M-Files Cloud in order to bring the software up to the latest version on a well maintained infrastructure.
• Integrate the M-Files vault with their SalesForce CRM to aggregate data for categorizing and processing client data.
• Provide guidance and assistance in cleaning up and streamlining the M-Files vault structure.
• Roll out a Web Portal to improve and streamline collaboration between CapAlt and their clients.

The Method

TEAM IM worked with CapAlt to prioritize and outline their overall objectives into a consolidated plan that provided increased satisfaction to both the business and their clients, as well as producing a faster return on investment.

The first objective was for CapAlt to have a stable, up to date M-Files environment that could be easily maintained and kept up to date. To accomplish this, TEAM IM worked to migrate their existing on-premise environment to the M-Files cloud. This process also upgraded the software and provided a stabilized environment that served as the foundation for forthcoming use cases utilizing M-Files.

One of the initial use cases was to solve the issue of data falling out of sync between M-files and CapAlt’s Salesforce CRM. To solve this issue, TEAM IM added integration between Salesforce and M-Files to ensure that the most up to date information in Salesforce was populated and available in M-Files. TEAM IM then transformed the data and process in M-Files to utilize the Salesforce Data. The combination of adding the Salesforce integration and making use of the Salesforce data significantly increased the speed and accuracy of finding information on CapAlt clients.

The next step was to eliminate the manual process of reporting on every Bank Account and note which statements had been received each month for each client. This was important because of the need to quickly generate accurate reports for audit purposes.

CapAlt also needed a secure way to provide collaboration and data sharing capabilities with their clients. TEAM IM responded by rolling out TEAM IM’s M-Connect portal, integrated with M-files to provide CapAlt’s clients self service to their documentation data.

Another area where CapAlt needed help was in improving the renewal process for their Clients. To do this, TEAM IM created templates in M-Files/M-Connect that significantly reduced the steps in the renewal process, reducing the amount of time spent on yearly renewals. 

One key differentiator of the M-Connect platform is that it enabled CapAlt to build an easy to use, Web/Mobile responsive site to connect with their clients and provide workflows and content securely from their M-Files cloud repository. The benefits of this solution include:

• Their clients can view and download insurance documentation such as policies, fund activity statements, settlement notices, bank statements, and other agreements.
• They use task lists to help streamline communication and make sure all the required information is supplied by their own clients.
• During the annual renewal period, clients can easily provide the key persons, customers, contacts, risks, etc., via an intuitive form. The form is prepopulated with the prior year's information to help streamline the data collection process.
• The portal allows clients to file a claim and check their claim status without having to call or email CapAlt.
• When new documents or tasks are added to the portal, the client is automatically sent an email notification with a link to access documents or tasks.

The End Result

Over 70% of Captive Alternatives’ clients renewed their insurance using the M-Connect collaboration portal in the first year of launch.