ITP Platform delivers 277% ROI for insurance and financial services institutions

Forrester Consulting conducted independent in-depth interviews with five Aia Software customers and constructed a case study depicting a composite of the insurance customers that have deployed the ITP Platform. The key findings indicate that the ITP Platform delivers:

• Rapid ROI and a short time horizon for achieving payback
• An increase in productivity for business users when document creation and delivery are made more flexible and efficient
• A requirement for fewer IT resources when business users assume ownership for and manage their own documents
• Reduced risk of errors and more assured compliance with regulations resulting from greater document accuracy and standardization of text
• Postage cost savings when documents can be combined into fewer mailings

Paul Dirven, CEO of Aia Software said, “This impartial TEI study shows the tremendous potential for insurance and other financial services companies to make significant savings by implementing Aia’s ITP Platform.  It also reinforces our ‘business managed, IT controlled’ philosophy, which is the key to achieving such a rapid ROI, while improving control, flexibility and reducing exposure to compliance and regulatory risk.”

The study indicated that by removing IT as the “broker of document construction” while maintaining IT’s role as the controller of document systems and infrastructure, organizations can gain speed, agility and customer intimacy, while making gains toward ensuring regulatory and internal compliance.

The risk-adjusted ROI of 277 percent for the composite company, along with a rapid payback (breakeven point), raises confidence that the investment is likely to succeed, especially after the risks and uncertainty that may threaten the project have been considered and quantified. Other business benefits and drivers for investing in Aia’s document composition software include:

• Reducing staffing costs by minimizing the number of IT personnel required to manage documents.  Additionally the same or fewer staff can produce a higher number of documents while maintaining accuracy.
• Developing new documents and templates in hours rather than days or weeks as previously required.
• Addressing the high cost of maintaining legacy systems involved in document production.
• Ease of integration to link to any new insurance or financial system and exploit web-based capabilities.
• Facilitating greater compliance and conformity through use of standard text blocks and other information that is known to meet regulatory requirements.
• Increased flexibility and document intelligence as ITP enables companies to produce individual, custom-composed correspondence.
• Greater business agility allowing institutions to react to changing market conditions faster or to implement new policy wording more quickly.

“The TEI framework established by Forrester Consulting shows a clear business case that insurance and other financial institutions everywhere can benefit from the ITP Platform. In addition to reduced costs and greater productivity, the business value of enhanced agility and faster time to market leads to higher levels of customer satisfaction, which in turn may lead to greater profitability,” said Geoffrey Boisvert, General Manager of Aia Software North America, Inc.

About Aia Software

Aia Software is a leading global producer and provider of document and forms solutions. The ITP Document Platform enables business users to compose high quality, personalized, business-critical documents. Over 850 organizations worldwide already use ITP as an integrated solution to automate the production of standard documents in high volume, compose sophisticated individual correspondence from pre-defined paragraphs, or to dynamically complete Web forms. ITP can be quickly and seamlessly integrated with customers' existing application and technical platforms. Aia Software has branch offices in North America, the UK, The Netherlands, Germany, Switzerland and Australia.
http://www.aia-itp.com