This Research Brief highlights a selection of the findings from BPMInstitute.org’s State of BPMSM survey. It discusses the continual challenges insurance companies face in a very competitive environment such as attracting new customers, rapidly delivering quotes, selling additional services to customers, managing underwriting risk and meeting regulatory requirements. Since business process management (BPM) is the practice of improving the efficiency and effectiveness of any organization by automating and optimizing the organization’s business processes, it is a key technology component of IT initiatives to produce a more responsive insurance company.
Turning AI Activity into Process Improvement
Many organizations are moving quickly to give employees access to AI tools. That access matters. But access alone does not create business value. Once teams begin using AI, activity can increase quickly. People may use it to summarize information, draft documentation,...
