Best Insurance document automation software to try in 2023

People tend to have mixed feelings about insurance and insurance companies. One thing we can all agree on is that it’s highly regulated and the right paperwork is essential. That paperwork can take a lot of time and energy to get done which is why insurance document automation is so useful.

In this guide, you’ll learn what insurance document automation is and the best insurance document automation software that’ll serve you well now and in the future.

What is insurance document automation?

Insurance document automation is the process of automating the creation and management of insurance documents using software. This can include a variety of documents such as policy documents, certificates of insurance, endorsements, and claims forms. The goal of insurance document automation is to streamline the insurance documentation process, improve accuracy and compliance, and reduce the time and effort required to manage insurance documents.

Insurance document automation software typically uses templates that are pre-populated with information from insurance systems, such as policyholder data and coverage information, to automatically generate documents. These templates can be customized to include company branding and specific language or clauses. The software can also ensure that documents comply with legal requirements and industry standards.

By automating insurance document creation, you can reduce errors and inconsistencies that can occur with manual document creation. Automation also allows insurance staff to spend less time on administrative tasks, such as document creation and tracking, and more time on customer service and strategic initiatives.

Overall, insurance document automation can help organizations to improve the efficiency, accuracy, and compliance of their insurance document management processes, resulting in better customer service and lower operational costs.

Key features of insurance document automation software

Insurance document automation software is designed to streamline the process of creating, managing, and storing insurance-related documents. Some key features of insurance document automation software include:

1. Customizable templates: The software should offer customizable templates for common insurance documents, such as policies, claims, and quotes. This can help ensure consistency and accuracy across all documents. Even if the software doesn’t have its own templates, you should be able to create ones that can then be reused.
2. Document editor: The software should include a document editor that lets you add or remove sections of a document, edit text, and format the layout. Generally speaking, the editor will also support conditional logic so you can further customize your documents.
3. Electronic signatures: The tool you work with should also have built-in electronic signature software which will let you send documents out for signing from within the same tool. This can save a lot of time and money.
4. Workflow automation: The software should allow insurance professionals to automate workflows, such as sending reminders for document completion, or automatically routing documents to different departments for approval.
5. Integration with insurance management systems: The software should be able to integrate with existing insurance management systems, allowing for seamless document creation and management.
6. Document repository: The software should have a centralized document storage system that allows insurance professionals to quickly search for and retrieve documents as needed. As an added bonus, look for tools that allow you to organize documents in relevant folders.
7. Analytics and reporting: The software should offer analytics and reporting features that provide insights into how documents are being used, who is accessing them, and how long it takes to complete workflows.

Overall, insurance document automation software can help insurance professionals streamline their document creation and management processes, reduce errors and inconsistencies, and improve compliance and efficiency. It can also help improve the client experience by making it easier and more convenient to sign and manage insurance documents.

Best insurance document automation software

DoxFlowy

DoxFlowy is an intuitive and solid document automation solution designed for small and medium businesses. Its goal is to help customers streamline their workflow, reduce costs associated with paperwork, and help you run a more efficient organization.

It does this through a strong document automation platform that brings together ease of use, advanced features, and an AI engine that ties everything together. You also have access to electronic signature software which can be included as part of your automation workflow. Conversely, you can also sign one-off documents within a few moments. 

When you’re setting up intuitive data collection questionnaires, you can customize them to match your brand and include conditional logic so that you collect the right data from the right people. The document editor also has a conditional logic engine that allows you to change clauses, images, and other elements based on the inputs in your questionnaire. This gives you the ultimate flexibility to create a wide range of documents from a base template.

Of course, you can create dynamic templates based on your needs and situation. These dynamic templates serve as the baseline for your document automation. It also supports direct integrations with third-party tools such as Dropbox, Google Drive, and popular CRMs so you can push out documents and data to the right place and further streamline and automate your document workflows.

If you’re strapped for time, you can also take advantage of the AI drafting which is built on top of the openAI engine. It’s been trained with billions of data points to help you draft robust legal documents in a fraction of the time it would normally take. After drafting a document, you can invite guest users to comment, edit, and otherwise collaborate on the document until it’s perfect.

If you want them to have more control, you can invite them to your team and set the permission levels. You can also share documents with them so they can get up to speed fast.

DoxFlowy also comes with a document repository that allows you to quickly search through all your documents and unearth the relevant ones. You can also create folders to store documents so that it’s easier to organize them and share them with other members of your team.

Pricing

DoxFlowy has three pricing plans. Each one is divided based on the features you have access to and the usage limits on your plan. 

• Core – $99/m
• Team – $199/m
• Business $499/m

PandaDoc

PandaDoc is a cloud-based document automation software that helps you streamline the document creation, management, and delivery processes. It allows users to create, send, track, and eSign various types of documents, including proposals, quotes, contracts, and invoices.

The platform offers a range of features designed to automate the document creation process and improve efficiency, accuracy, and compliance.

Within the software, you can access a library of customizable templates that can be tailored to suit your specific needs. Users can choose from a range of pre-built templates or create their own templates from scratch. Once you’ve selected a template, you can use the drag-and-drop editor to add images, videos, tables, and other elements to your documents. You can also add custom branding, such as logos and colors, to their documents.

PandaDoc also comes with collaboration tools which let multiple users work on a document simultaneously. Users can leave comments, assign tasks, and track changes, making it easy to collaborate with team members and stakeholders. You can also create custom workflows that automate document creation, delivery, and tracking. For example, users can set up workflows that automatically send follow-up emails to clients after a document has been sent, or that automatically archive completed documents.

Pricing

Pandadoc has multiple pricing plans. Electronic signatures are free and paid plans start at $29/m and go up to $59/m depending on the features you wish to access.

Legito

Legito is a cloud-based document automation platform that allows you to automate multiple steps in the contract lifecycle. It’s designed to help legal professionals and businesses of all sizes streamline their document creation and management processes through a templating interface, dynamic forms, and other relevant tools.

Like with other document automation software, you’re able to take advantage of the templates provided by Legito or create your own from scratch. There are many contracts, agreements, and legal documents to choose from.

Legito also includes a range of features to manage and automate the document workflow. Users can collaborate with team members and external stakeholders, track the progress of document creation and review, and set up alerts and notifications for upcoming deadlines or changes.

Legito’s platform is designed to integrate with other business software and platforms, such as Salesforce, Google Drive, and Zapier, making it easy to incorporate document automation into existing workflows and processes.

Pricing

Legito has two public pricing plans and another plan that’s custom-tailored for enterprise users. Each plan is divided based on usage limits and the features available.

HotDocs

HotDocs is a document automation software designed to streamline the creation and management of complex documents, forms, and contracts. It has been around for decades and has passed through many owners to arrive at where it is today.

HotDocs uses conditional logic, business rules, and questionnaires to automate the drafting of legal documents, reducing the time and effort required to create high-quality documents. It includes a comprehensive library of customizable templates that can be used to create a wide range of legal documents, such as contracts, wills, trusts, and other legal agreements.

One of the key features of HotDocs is its use of conditional logic, which enables the software to dynamically generate documents based on user inputs. HotDocs can automate complex legal documents that require multiple options and variations, reducing the time and effort required to draft these documents.

HotDocs also includes a range of features to manage and automate the document workflow. you can collaborate with team members and external stakeholders, track the progress of document creation and review, and set up alerts and notifications for upcoming deadlines or changes.

Pricing

HotDocs doesn’t publicly display pricing. You’ll have to reach out to the sales team to get a custom quote based on your situation and requirements.

Revv

Revv is a cloud-based document automation platform that helps businesses automate their document creation and management processes. The platform offers a variety of tools to create, edit, and send documents, including contracts, proposals, and quotes, with ease and speed.

One of the key features of Revv is its intuitive drag-and-drop editor that enables users to customize document templates or create their own templates from scratch. The platform includes a library of customizable templates, which can be modified to fit specific requirements and branding needs.

Revv.so also offers a variety of features to automate the document creation and management process. For example, the platform includes electronic signature capabilities, enabling users to sign and send documents electronically, reducing the need for physical signatures and paper-based processes.

Another important feature of Revv is its integration capabilities. The platform integrates with popular business software, such as Salesforce, Zapier, and HubSpot, making it easy to incorporate document automation into existing workflows and processes.

Pricing

Revv doesn’t display its pricing publicly. You’ll need to contact the team to get a quote that’s tailored to your situation.

Templafy

Templafy is a cloud-based document assembly and content management platform. It helps unify and automate the content creation process for many different platforms and formats. Whether you need a well-designed PowerPoint or a legal document – Templafy can assist.

One of the key features of Templafy is its document assembly capabilities. The platform includes a library of customizable document templates, which can be used to create a wide range of documents, such as contracts, proposals, and presentations. You can modify these templates to fit their specific needs, ensuring that their documents comply with branding guidelines and adhere to corporate standards.

Templafy also offers a range of features to manage and automate the document workflow. You can work with your team or people outside of your organization to get the right documents created – fast. The platform also provides version control capabilities, enabling users to track document changes and ensure that the most recent version is being used.

Pricing

Like many other tools in this collection, Templafy doesn’t publicly display pricing. You’ll have to request pricing from the team.

AXdraft

Axdraft is a cloud-based document automation platform that allows you to create, manage, and automate legal documents. The platform provides an intuitive interface and an extensive library of customizable templates to streamline the document creation process for legal professionals and business owners.

Axdraft uses simple artificial intelligence (AI) to automate the document drafting process, reducing the time and effort required to produce accurate legal documents. It also provides a wide range of document templates, including employment agreements, non-disclosure agreements, terms of service, privacy policies, and more. You can customize these templates with their own branding, logos, and language, ensuring that the resulting documents are aligned with your organization’s standards and requirements.

In addition to document creation, Axdraft also provides a suite of features to manage and automate the document workflow. you can collaborate with team members and external stakeholders, track the progress of document creation and review, and set up alerts and notifications for upcoming deadlines or changes.

Axdraft’s platform is designed to integrate with other business software and platforms, such as Salesforce, Zapier, and Google Drive, making it easy to incorporate document automation into existing workflows and processes.

Pricing

There are multiple add-ons that you can take advantage of such as central document repository, native electronic signatures, and approval workflows. Frankly, these things are part of the core product for many of the other tools on this list.

Seat-based – 5 seats, unlimited documents $700/m

Volume-based – 600 documents, unlimited seats $700/m

Conclusion

Insurance document automation software can be a great tool in your arsenal. It can also be a source of headaches when you choose the wrong tools for your situation.

While the options available are similar, there are little nuances that can make all the difference when it comes to successfully automating insurance documents. Take this list as a starting point, shortlist the tools that make the most sense to you, and test them yourself.

Let me know what you think in the comments and don’t forget to share.