Enterprise Content Management (ECM) has made life easier for insurance carriers for most of the 21st century, but as content has changed—and the way insurers do business has changed as well—it seems fair to wonder what lies next for an industry where content remains king, even if that content doesn't resemble what ECM solutions were initially designed to manage.
“I heard someone say that carriers are building digital landfills—that paints a pretty good picture—literally a dumping ground for all this information,” says Frank Petersmark, CIO Advocate for X by 2. “Most of it—90 percent—is unstructured. Early ECM platforms didn't have unstructured data in mind, which is why vendors are trying to scramble right now.”
Insurers need a place to aggregate all their content and give users a front end to create their repots.
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