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Combating Today's Insurance Market Challenges with ECM (Strategic Focus)
Datamonitor, Jan 2009, Pages: 32
Insurers are facing the most difficult economic environment in more than 70 years, all while also having to manage ever-more demanding consumers and burdensome regulations that will not abate. To manage in this difficult environment, insurers need to become more efficient and improve their customer propositions. ECM is an effective way to achieve these goals.
Scope
- This report focuses on both life and non-life insurers.
- Global markets are discussed but the United States receives the most in-depth analysis.
- The report discusses the many aspects of ECM such as document management, records management, business process management and web content management.
Highlights of this title
One way to gain efficiencies is to ensure that all forms and documents are stored in a unified location that can be accessed by a number of people from numerous locations. Additionally, workflows need to be automated; no longer can a processing agent physically deliver a file to the next person or department.
Datamonitor predicts that the global spend on ECM by both life and non-life insurers will slow slightly in 2009. The pace of spending will pick up in 2010 and return to pre-crisis rates in 2012.
SaaS solutions will make headway in the ECM market. A number of insurance-specific ECM vendors have already developed a SaaS offering, while others are in the process. Meanwhile, pure-play SaaS providers are looking to establish vertical offerings.
Key reasons to purchase this title
- Gain insight into the struggles insurers are facing as they navigate a down market, a tsunami of content and burdensome regulations.
- Understand the market size and growth potential for insurance-related ECM spend.
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