Amica Insurance saves big with Source Technologies' secure MICR printers
Amica Insurance chose Source Technologies' secure MICR check printers because...
- The MICR printer solution allows Amica to move check issuance to local branch offices.
- The MICR printer's bidirectional capabilities provide Amica electronic logging, eliminating the manual "paper trail."
- The new solution cut costs by eliminating preprinted check stock, official check fraud, postage and handling of checks, and manual item processing.
About the Customer
With 3,000 employees and 41 offices throughout the United States, Amica Insurance is a leading provider of consumer, property, casualty, and auto insurance. Founded in 1908, they are the oldest mutual insurer of automobiles in the nation.
What We Found
Amica had been using MICR (Magnetic Character Ink Recognition) printers for a several years to produce claim checks, but the old printers were wearing out and due for replacement. Amica was searching for additional capabilities to address a variety of issues. The new printers needed to offer networking capabilities so documents could be printed from different locations within an office, or from another office location. They needed to deliver high-quality printing at an economical price and have the ability to print letters as well as checks. Finally, the company was actively looking for a way to convert its ever-increasing check "paper trail" into an electronic one while maintaining control of check authorizations.
ST Solution
After reviewing a variety of alternatives, Amica chose Source Technologies' MICR laser printers. Source Technologies' printers offer the highest MICR print quality available, and handle non-MICR letters and other documents equally as well. They are ideal for on-demand check printing at satellite branches as well as centralized production check printing. The end result is better efficiency and faster customer service, which is imperative in today's competitive insurance market. Now, when a claim is processed, the customer has the option to go to a local branch and have a check printed on the spot.
Other Source Technologies' printer enhancements have allowed Amica to significantly reduce its enormous check printing paper trail. Electronic data files generated by ST printers' bidirectional print confirmation have replaced the paper trail that used to lead to Amica's home office. When a check is issued-either centrally or at a branch office- confirmation is transmitted directly into the company’s centralized item processing system, eliminating manual key entry and reconciliation.
To most insurance companies preprinted check stock is both valuable and expensive. Users must closely monitor their stock because a good color copier can make authentic-looking checks when coupled with stolen check stock. With Source Technologies printers in place, Amica replaced preprinted checks with blank check stock. Today, a branch agent simply prints the check on blank stock loaded in the printer's paper tray, providing enhanced security.
By decentralizing a major portion of its claims function, automating reconciliation and the check printing audit trail, and eliminating preprinted checks through distributed MICR printing, Source Technologies has delivered to Amica increased efficiency, enhanced customer service, and considerable cost savings.