Proctor Financial Says Expectations Are Rising Fast.(workflow and imaging technologies makes insurance processing more faster)

Troy, MI -- Proctor Financial Inc., a division of the Brown & Brown national insurance agency that provides lender-placed hazard insurance coverage, says the industry landscape is changing as lenders look for ways to manage costs while emphasizing compliance.

Those trends have created new opportunities while also posing challenges for firms that provide outsourcing to the mortgage industry.

Mortgage industry vendors are putting an increasing emphasis on efficiency and reliability. Proctor Financial, for instance, has implemented workflow and imaging technology that dramatically reduces the paperwork involved in insurance processing.

"It actually improves the process and the flow so that there is no paper getting lost, and there is no storage of paper," said Karen Schickel, a senior vice president at Proctor.

That kind of imaging and workflow is particularly useful in the insurance industry, a very paper-intensive business.

Val Dickerson, vice president of outsourcing at Proctor, said the company's workflow system, which allows users to see a split screen with an image of an original document alongside the servicing system, has created better organized workflow. Users then can populate the servicing system with data gleaned from the document image.

"You have no one walking around with paper. You have no one wondering where the mail is."