Business process management is a technology that can reduce a company's automation costs and aid in regulatory compliance, but according to one industry analyst, "most of the industry is not doing anything" to implement it.
Indeed, 58 percent of insurers polled by Forrester Research Inc. reported that they would not buy BPM technology, noted Craig LeClair, senior analyst for information management at the Cambridge, Mass.-based firm.
Just 11 percent of insurers said they would make a first purchase of BPM, while the remainder plan on upgrades, he added while speaking at the Life Office Management Association's recent Emerging Technology Conference here.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
