The Market Dynamics of Document Management

by Nicolas Michellod, September 13, 2010
Industry Trends
Global, Asia-Pacific, EMEA, Latin America, North America

Abstract

The role of insurance is to leverage existing information to make the right decisions and communicate efficiently with clients and business partners. Document automation is a crucial element because it allows insurance companies to transform data into information.

In a new report, The Market Dynamics of Document Management, Celent explores insurer views on document management and identifies five trends that require specific attention. It analyzes the findings of an online survey launched by Celent in June 2010.

“The growing importance of new communication and distribution channels forces insurers to rethink the way they interact with existing and potential clients and business partners,” says Nicolas Michellod, Senior Analyst with Celent’s Insurance Group and author of the report. “Insurers tend to deal with complex internal structures and multiple document composition engines. This situation negatively affects document and communication management processes.”

This is the first of two reports Celent will publish in 2010 about document management in insurance. It reviews different aspects of document automation and management.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary

3

Introduction

4

Survey Methodology

6

Organization and IT Tools

8

Preferred Formats and Communication Vehicles

13

New Technologies

20

Top Five Trends in Document Management for Insurers

22

Conclusion

28

Leveraging Celent’s Expertise

29

Related Celent Research

30

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