Life Insurance Legal
Life insurers easily prepare for litigation with OnBase
Creating a litigation file is time consuming and costly. And, often there is a very short time frame in which the file must be prepared and carefully reviewed by legal staff before it must be provided to opposing counsel. When deployed across the enterprise, OnBase expedites preparing insurance litigation materials. OnBase also easily facilitates information sharing. When a file is requested, a digital copy of the file is easily published to a CD or DVD, avoiding costly and labor-intensive manual file reproduction.
The retention and disposition of both policy and claim documents is critical for insurers and to mitigate liability risk, the information must be retained for the required legal retention period. At the end of the retention period, documents must be properly disposed of according to the company’s corporate retention policies, otherwise, the court could require those documents be made available within the litigation suit.
OnBase manages document retention to ensure proper adherence to corporate policy. The solution also provides an audit trail to demonstrate that the corporate retention policy is in place, and followed, eliminating fines and costly court judgments.