CHAUCER INSURANCE CASE STUDY

Market Sector: Insurance

Business Function: Payment solutions

Business Need: Improve efficiency and reduce costs when printing cheques

Customer Solution: CheckPrint Solution

About Chaucer Insurance

 Chaucer Insurance Services Limited (CISL) is a UK insurance managing general agent authorised and regulated by the FCA. It handles underwriting, administration and claims on behalf of a Lloyds Syndicate, Zenith Insurance and Zenith’s co insurers.

 CISL is dedicated to providing high quality motor and commercial insurance solutions via a nationwide broker network. Its products are focused on the UK private car market; covering cars, vans, motorcycles, fleets, family fleets, motor trade, specialist and bespoke motor schemes, in addition to commercial offerings for commercial combined, property owners, public, product, and employers’ liability.

The Challenge

 CISL has an ongoing requirement to print and distribute approximately 3,000 cheques per month, with the majority being sent out to customers who have successfully made an insurance claim. CISL wanted to replace its existing cheque processing and printing system with a more efficient and cost effective solution that would also seamlessly integrate with the very latest Microsoft Windows operating systems, which are extensively used across the organisation. CISL also required additional functionality that would allow ad-hoc cheques to be generated upon demand.

The solution

 CISL initially contacted TALL Security Print to enquire about its portfolio of services and solutions as well as the company’s cheque stock provision. Following an initial demonstration at CISL’s head office and further detailed discussions, the insurance company opted to deploy the CheckPrint Solution, the TALL Group’s secure and versatile cheque printing system. TALL Security Print’s team of experts quickly installed the platform, ensuring full integration with CISL’s internal finance system, and providing the customer with a specialist HP LaserJet P3015X printer. In addition, on-site training was delivered to the relevant employees working within CISL’s finance department.

 CISL has been able to benefit from the flexibility offered by the modular system, which accommodates a changing volume of cheques. The insurance company also chose to deploy the CheckPrint Crypto-Monitor, which automatically encrypts files from CISL’s finance system prior to the data being uploaded to the CheckPrint Solution. These cheques are pre-authorised within the company’s finance system and are then printed via the CheckPrint Solution without the need for further verification and complete with the necessary signatures. This innovative process ensures that CISL’s cheque production is both efficient and secure at all times.

 CISL has also taken advantage of the platform’s additional Manual Data Entry and Remote Verification modules. This allows operators to key cheque details directly into the system, which are then authorised by signatories prior to printing. In addition, email notifications are generated by the platform to advise operators that cheques need authorising or printing, before a final email listing is automatically sent to a group to confirm that the cheques have been printed successfully.

 A single stock of paper is used to print cheques from three of CISL’s bank accounts with all the account details and MICR (Magnetic Ink Character Recognition) codeline being applied during the printing process. The MICR technology is used in the clearing process to enable automated capture of the cheque account details.

 By implementing the sophisticated system, CISL has been able to streamline its cheque production, leading to significant efficiency gains whilst also saving money. The insurance company has also benefitted from robust data security, fraud protection and a comprehensive reporting feature.

Testimonial

 Dionne Hairsine, IS Project Manager at CISL, said: “We required a state-of-the-art and versatile cheque printing platform that would allow us to increase productivity and reduce our costs whilst ensuring we remained secure and resilient at all times. The CheckPrint Solution has certainly ticked all of those boxes. TALL Security Print is an ideal partner for us because it is a dedicated and highly responsive business with in-depth expertise. As such, it’s able to provide a truly agile solution.”