A Fortune 500 insurer uses Source Technologies' MICR printers for secure check printing with IBM mainframe compatibility

This Fortune 500 insurance company chose Source Technologies' MICR printers because...

• Source Technologies' MICR printers integrate seamlessly with their IBM mainframe without interrupting the existing claims process or complicating the business process
• They eliminated preprinted check stock, virtually eliminating official check fraud
• ST MICR printers delivered secure, specialized capabilities while reducing printing costs dramatically

This particular company is a Fortune 500 insurance company specializing in auto insurance with 120 drive-in auto claim centers across the country.

The company was searching for updated check printing technology for use centrally as well as in each of their claims centers. Their existing claims check system consisted of an IBM mainframe transmitting variable check data to dot matrix printers which would print the checks on preprinted check stock. Checks were then mailed to claims centers or customers. The printers were reaching the end of their useful life, and were very expensive to maintain. Additionally, preprinted checks were stored in various storage rooms, imposing a high security risk. The company's drive-in auto claims centers had standard laser printers used for standard document printing only.

The company wanted to investigate both MICR (magnetic ink character recognition) check and standard document printing options for each of these centers. This new approach to check printing needed to fit seamlessly into their existing process with as little disruption to normal business as possible. They did not want to introduce duplicate data entry or incur new risks requiring additional auditing or other security measures. Issuing checks locally at the claims centers would need to run through the IBM mainframe computer that operated the claims system.

Source Technologies has been the market leader in secure MICR (Magnetic Ink Character Recognition) check printing technology since 1990. Our MICR laser printers are engineered specifically for printing MICR-encoded checks and other negotiable documents in a single printer pass, with all necessary information including logo, signature, customer data, and MICR line.

After reviewing the client's needs, Source Technologies recommended and installed a secure MICR laser printer solution designed to meet all of the customer's critical business requirements, including centralized production check printing and on-demand check printing in each of the claims centers.  Source Technologies' printers integrated with the existing IBM mainframe connection seamlessly; no process changes were required.

This solution not only met current security standards, it enhanced them by allowing the company to eliminate preprinted check stock and by generating real-time bi-directional confirmation of check printing directly into their audit and reconciliation processes. Finally, Source Technologies' printers delivered exceptional output quality, durability, and performance for the centers' standard document printing.

Not only has this insurance company upgraded its print technology, it now has a new check issuance capability that cuts risk, saves money, and provides new levels of service to their customers.