Top US Insurance Broker Saves $1,000,000 in Opportunity Cost
Keenan, a top California financial firm, saved $1,000,000 by automating their retirement plan enrollments with Solusign. Digitizing forms cut paperwork time by 90%, saving 5,000 hours annually and streamlining data management.
95%
reduction in manual onboarding tasks
100%
error-free document
O min
Spent on manual paperwork
About Keenan
Keenan, a leading financial services firm in California, faced inefficiencies with their manual retirement plan enrollment process. Solusign partnered with them to digitize and automate the workflow. By implementing DocuSign templates, form validation rules, and database integration, Keenan drastically cut paperwork time by 90%, saving $1,000,000 in opportunity costs. The streamlined process now allows for rapid form completion and easy data management, significantly enhancing operational efficiency.
Industry: Financial Services
Company Size: Large
Location: California
Use Case: Automating retirement plan enrollments to reduce manual paperwork, improve efficiency, and achieve substantial cost savings through digital transformation.
The Problem
Keenan, a major California financial services firm, faced inefficiencies in processing 8,000 annual retirement plan enrollments using time-consuming PDF and paper forms. Analysts spent 45 minutes per application, totaling over 6,000 hours annually. The pandemic accelerated the need for a digital transition, prompting Keenan to seek Solusign’s expertise to streamline and automate their process.
The Solution
We worked closely with Keenan's team to:
- Set up enrollment application forms as DocuSign templates
Added form-rules that prevent signers from making mistakes when filling them out. - We also integrated their database into DocuSign and set up a cloud based system.
The Results
⌛️ Now Keenan’s reps are enjoying 90% less time spent on paperwork! saving 5,000 hours per year!
✅ The team can easily send forms in bulk with just one click and most forms get completed within 24 hours on average.
🔄 The data entered in forms automatically synchronizes with the database for easy review, while completed documents get filed directly into a cloud storage system
The Results
''Solusign exceeded our expectations"
VP of Sales
Keenan Financial Services
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