Amica had been using Magnetic Ink Character Recognition (MICR) printers for several years to produce claims checks, but they reached a point where they wanted to move to multifunction printers to take advantage of network capability and functionality in a small footprint. Also, the company was actively looking for a way to convert its check “paper trail” into an electronic system without compromising control of the process.
Amica chose Source Technologies MICR multifunction printers, ideal for on-demand check printing at satellite branches as well as central offices. With the secure printing solution in place, claims checks can be printed in-office and on demand, reducing the wait time for clients and risk of check fraud for Amica Insurance.
Source Technologies Bidirectional Print Confirmation feature allowed Amica to replace its paper trail with electronic data files. When a check is issued, confirmation is sent to the company’s centralized item processing system, eliminating manual key entry and reconciliation. Pre-printed check stock is both expensive and uncertain because it has to be constantly monitored against theft.
With Source Technologies secure MICR printers in place, Amica replaced pre-printed checks with blank check stock, which until printed on, presents no risk of fraud. By decentralizing a major portion of Amica’s claims function, automating reconciliation and auditing, and eliminating pre-printed checks, Source Technologies helped the Amica Insurance realize considerable cost savings, increased efficiency, and enhanced customer service.