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.
The Future of BPM: Trends and Innovations to Watch
Business Process Management (BPM) has come a long way—from hand-drawn flowcharts in conference rooms to enterprise-wide platforms that automate end-to-end workflows. Yet BPM’s evolution is far from over. Emerging technologies and shifting business models continue to...