Connecting the Business & Technology Communities
June 2012 • Volume 15, Issue 4
Managing and Improving
In this age of Web- and phone-based self-service, legacy billing systems can
be a liability to insurers. A lack of integration and the inability to see across
business lines can leave customers, agents and service reps frustrated and
increase customer churn, hurting the bottom line. But several insurers,
including Safety Insurance Group, US Assure and FCCI Insurance Group,
are modernizing their billing systems to better manage cash-flow and
increase customer service satisfaction.
Evaluating and selecting vendors can be a real challenge, but since insurance IT organizations may not evaluate solution providers more than
once every couple years, they can lack the ability to properly assess their
suppliers. This can leave IT at a disadvantage. A strong vendor relationship
can make a big difference in delivering robust IT services to the business.
For those looking to hone their skills, Novarica Partner and Managing
Director Matthew Josefowicz offers several tips on how to evaluate and
improve these strategic relationships.
Insurers Take Aim with BPM
Atlantic Casualty Insurance, Grinnell Mutual Insurance and other
insurers have renewed interested in and increased budgets
for business process management projects. Many firms
are looking to BPM as a way to improve core insurance
operations, especially claims management, policy
administration and underwriting. BPM vendors have
responded to the heightened demand by releasing
a range of new tools. However, analysts and prac-
titioners warn that it takes time—and work—to
realize BPM’s full potential.
The Quickening Pace
Insurers’ enthusiasm for social media, mobile
communications and other consumer tech is
tempered by compliance concerns. page 14