Regional Insurer Chooses AFS Product for Remittance Processing

February 27, 2003

Advanced Financial Solutions Inc. (AFS), a provider of image-based remittance processing solutions for insurance, based in Oklahoma City, announced that a prominent regional insurance company has selected the AFS ImageVision Remittance solution as the centerpiece of their new remittance processing technology infrastructure.

Highly successful and established insurance companies that offer a full suite of auto, home, and life policies often have high check volumes and specialized remittance advices containing detailed claim and policy information. AFS ImageVision Remittance addresses this issue with an interface to the Kleindienst family of scanners, providing the most comprehensive and efficient document management solution available to the insurance industry.

To process the large volume of checks, AFS ImageVision Remittance interfaces to high-speed transports to scan and capture coupons and checks, and Kleindienst scanners to handle odd-sized and full-sized documents, remittals, and associated checks. This powerful combination of devices keeps every related item together to retain transaction integrity. Once the payment checks are encoded, the check data is captured and transmitted. The insurance company’s host system is updated to reflect receipt of payment and to trigger the activation or renewal of a policy. Check images and payment transactions can be indexed and archived for future reference by the insurance company’s customer service department. Internet access to the archive ensures that payment disputes are resolved quickly.

Another key feature of AFS ImageVision Remittance that has been attracting insurance companies is the interface to the Mitek DynaFind solution. The company said AFS ImageVision Remittance integration with the Mitek DynaFind program makes it possible to automate data entry for a wide variety of documents and forms that insurance companies previously thought impossible to read automatically.

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