Web Called Key To Insurer Cost-Cutting
Industry executives agree that among the many challenges faced by the insurance industry, the need to control the combined ratios–the share of losses incurred to premiums earned–by reducing operational costs is by far the most pressing business problem at hand. And it will continue to be so in the foreseeable future.
To deal with this challenge, the insurance industry as a whole has spent, and is continuing to spend, vast sums of money on their existing information technology to make themselves more efficient and cost-effective. Throughout this IT initiative, the insurance industry has adopted workflow and content management systems in large numbers, due to the need to manage its complex paper-driven business processes.
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