Captive Alternatives

 

 

Over 70% of Captive Alternatives clients renewed their insource using the M-Files/M-Connect collaboration portal during the first year after launch

The templates in M-Files that generated the renewal documents helped Captive Alternatives’ clients save time and ensure accuracy

By allowing them to streamline their processes, Captive Alternatives freed up their schedule to concentrate on adding value for clients

Value to the Customer

  • Worked with Captive Alternatives (CapAlt) to migrate their vault from an on-premises location to the M-Files Cloud. This served to upgrade the software and stabilize the environment, providing a solid basis for them moving forward and setting them up for the foreseeable future.
  • The integration of M-Files with CapAlt’s Salesforce CRM service allows it to pull customer data into M-Files, ensuring that all the latest information from Salesforce is readily available. This allows CapAlt to easily assist their clients in finding information related to each individual client.
  • The M-Files reporting capability developed by TEAM IM allows CapAlt to easily meet compliance requirements.
  • The templates in M-Files that generate the renewal documents required to complete the renewal process for Captive Alternatives’ clients save time and ensures accuracy.
  • The CapAlt collaboration portal, built on M-Connect and M-Files, provides a range of self-service and collaboration features to their clients. This allows them to streamline their processes and free up time to concentrate on adding value for their clients.
  • TEAM IM provided additional value to the M-Files system by learning about the CapAlt business processes and suggesting changes to their M-Files vault. Suggested changes were focused on best practices and reuse of objects.

Company Overview

Captive Alternatives (CapAlt) is an insurance consultancy that helps business owners convert their insurance premiums into financial assets that can be grown and tapped for their benefit.

CapAlt’s pioneering risk management strategy, Private Insurance, enables businesses and organizations to directly procure insurance coverage for selected risks, transfer high exposure to third parties, and designate an investor to participate in an innovative profit-sharing program. As a result, investors build tax efficient assets to help protect their business and assure their future. CapAlt manages Private Insurance operations from their offices in Atlanta and Puerto Rico.

 

Project Highlights

  • Upgraded and migrated M-Files Cloud to M-Files On-Premise
  • Reviewed and updated vault configurations using industry best practices
  • Upgraded and refreshed Development Test Environments
  • Providing ongoing Enhanced Support

Software Involved

  • Microsoft SharePoint 2010, 2013, 2016
  • Microsoft SharePoint 2019

Value to the Customer

  • Met the tight deadline for the SharePoint migration at scale
  • Provided best practices for migrations between versions
  • Ensured feature compatibility with sites inmigration from 2010 to 2019
  • Handled platform information vital to the business to set up Regency for success

Customer Background

Captive Alternatives began using M-Files in 2015, and their use cases for M-Files evolved over time. CapAlt’s processes were limiting their growth. Investing in the software and services would allow them to reduce strain on their staff by automating some of their routine processes and providing a way for their clients to access information through a self-service web portal.

CapAlt requested TEAM IM provide professional consulting services to analyze and improve their use of M-Files and assist in developing a collaboration portal for their clients.

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Preventing any risk by migrating to M-Files

The Problem To Be Solved

Captive Alternatives recently encountered a burgeoning need to improve the insurance renewals process for both the CapAlt team and their clients. In order to accomplish this, TEAM was to work with CapAlt to clean up and streamline the M-Files vault structure, as well as migrate the vault from an on-premises environment to the M-Files Cloud, bringing the software up to the latest version on a well maintained infrastructure.

To ensure a smooth transition, TEAM IM would integrate the M-Files vault with Captive Alternatives’ Salesforce CRM to aggregate data for categorizing and processing client data and roll out a web portal to improve and streamline collaboration between CapAlt and their clients.

Why Solving The Problem Was Important

The simple fact is that the routine processes Captive Alternatives had been utilizing were limiting their growth. Investing in upgrades to their software and services allowed them to automate some of those routine processes and provide their clients with a self-service web portal. These upgrades would serve to both reduce the strain on their staff and empower clients to accomplish a number of their tasks and goals without the need for a customer service engagement.

How TEAM IM Got Involved

M-Files introduced CapAlt to TEAM because M-Files believed TEAM IM’s skilled resources, coupled with years of lessons learned and best practices, would be an ideal partner to assist CapAlt with their objectives.

When CapAlt engaged TEAM IM, they needed assistance with solving their business requirements using M-Files to:

  • Improve the insurance renewals process for the CapAlt team and their clients.
  • Migrate CapAlt’s M-Files vault from an on-premises environment to the M-Files Cloud in order to bring the software up to the latest version on a well maintained infrastructure.
  • Integrate the M-Files vault with their SalesForce CRM to aggregate data for categorizing and processing client data.
  • Provide guidance and assistance in cleaning up and streamlining the M-Files vault structure.
  • Roll out a Web Portal to improve and streamline collaboration between CapAlt and their clients.

The Method

TEAM IM worked with CapAlt to prioritize and outline their overall objectives into a consolidated plan that provided increased satisfaction to both the business and their clients, as well as producing a faster return on investment.

The first objective was for CapAlt to have a stable, up to date M-Files environment that could be easily maintained and kept up to date. To accomplish this, TEAM IM worked to migrate their existing on-premise environment to the M-Files cloud. This process also upgraded the software and provided a stabilized environment that served as the foundation for forthcoming use cases utilizing M-Files.

One of the initial use cases was to solve the issue of data falling out of sync between M-files and CapAlt’s Salesforce CRM. To solve this issue, TEAM IM added integration between Salesforce and M-Files to ensure that the most up to date information in Salesforce was populated and available in M-Files. TEAM then transformed the data and process in M-Files to utilize the Salesforce Data. The combination of adding the Salesforce integration and making use of the Salesforce data significantly increased the speed and accuracy of finding information on CapAlt clients.

The next step was to eliminate the manual process of reporting on every Bank Account and note which statements had been received each month for each client. This was important because of the need to quickly generate accurate reports for audit purposes.

CapAlt also needed a secure way to provide collaboration and data sharing capabilities with their clients. TEAM IM responded by rolling out TEAM IM’s M-Connect portal, integrated with M-files to provide CapAlt’s clients self service to their documentation data.

Another area where CapAlt needed help was in improving the renewal process for their Clients. To do this, TEAM IM created templates in M-Files/M-Connect that significantly reduced the steps in the renewal process, reducing the amount of time spent on yearly renewals. 

One key differentiator of the M-Connect platform is that it enabled CapAlt to build an easy to use, Web/Mobile responsive site to connect with their clients and provide workflows and content securely from their M-Files cloud repository. The benefits of this solution include:

  • Their clients can view and download insurance documentation such as policies, fund activity statements, settlement notices, bank statements, and other agreements.
  • They use task lists to help streamline communication and make sure all the required information is supplied by their own clients.
  • During the annual renewal period, clients can easily provide the key persons, customers, contacts, risks, etc., via an intuitive form. The form is prepopulated with the prior year's information to help streamline the data collection process.
  • The portal allows clients to file a claim and check their claim status without having to call or email CapAlt.
  • When new documents or tasks are added to the portal, the client is automatically sent an email notification with a link to access documents or tasks.

The End Result

Over 70% of Captive Alternatives’ clients renewed their insurance using the M-Connect collaboration portal in the first year of launch.

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TEAM IM and Captive Alternatives Relationship Moving Forward

After the initial engagement, CapAlt engaged TEAM IM through a yearly Enhanced Development Support agreement, which is a set number of hours per month that allows for ongoing configuration, development, and consulting assistance on both the M-Files and TEAM IM’s M-Connect platform.

How TEAM IM Outshined The Competition

TEAM's web-based platform, M-Connect, enabled Captive Alternatives to build an easy-to-use, responsive web or mobile site to connect their clients with M-Files back-office content and workflows.

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Project Highlights

  • Migrated Captive Alternatives vault from on-premises to the M-Files Cloud, including an upgrade to the latest version of M-Files.
  • Integrated M-Files with CapAlt’s Salesforce CRM service to pull customer data into M-Files.
  • Developed reports in M-Files to meet compliance requirements.
  • Rolled out a collaboration web portal built on TEAM IM’s M-Connect and M-Files to provide a range of self-service and collaboration features to CapAlt’s clients.
  • Streamlined CapAlt’s process for generating renewal documents to their clients, reducing the overall amount of time it took for the renewal process.
  • TEAM IM created templates in M-Files that generate the renewal documents required to complete the renewal process for CapAlt’s clients.

“TEAM IM’s assistance in helping us move to M-Files Cloud, along with the use of TEAM IM’s M-Connect platform, allowed us to become more efficient and provide a way for our clients to reduce the overall time it took to renew their insurance, as well as access their customer reports and other documents.”

David Kirkup
COO/CFO – CapAlt

“TEAM IM’s knowledge of M-Files and M-Connect, coupled with best practices and lessons learned, allowed us to help CapAlt succeed in their objectives of M-Files environment stabilization and streamlined integration between M-Files and Salesforce, as well as providing a secure way to collaborate and share data between CapAlt and their customers.”

Scott Olsen
Director of M-Files Practice

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Software and (Cloud) Services Involved

Main Solution Components:

  • M-Files and M-Files Cloud
  • TEAM IM’s M-Connect
  • Salesforce CRM
  • Quickbase

Solution Component Descriptions:


  • There are data flows between Salesforce, Quickbase, iRAQ (eForm), M-Files, and M-Connect.
  • M-Files stores all documents for the Captive Alternatives team. M-Files is integrated with Salesforce to pull Accounts and Contacts from Salesforce (Salesforce is the source of truth for this information). The customer data is then used to categorize the documents and build business processes around them in M-Files. CapAlt also uses M-Files to aggregate the data from different systems that are then used to generate policy documents for their clients.
  • M-Connect drives the collaboration portal for CapAlt. The portal allows their clients to access documents related to their policies and gives them the ability to renew them. 
  • Quickbase contains all account, policy, and coverage data. TEAM IM has found a way to import that information into M-Files cloud. 
  • Trintech has a tool called dataflow that logs into online bank accounts and downloads bank statements to check them into M-Files. The bank statements are automatically matched to a bank account in the M-Files vault. 

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Talk with the experts

“TEAM IM’s SharePoint knowledge, approach, and best practices worked in concert with Regency resources to ensure a successful migration and user adoption of SharePoint 2019.”

Shani Hall,
Senior Manager
Information Platform Recency Centers