The rapid proliferation of enterprise content, such as electronic documents, audiovisual files, instant messaging (IM), recorded phone conversations and e-mail, is having significant impact on the global insurance industry.Insurers now face severe penalties if they are unable to produce legally viable records of business conversations and transactions. Additionally, globalization, the dispersion of data and strict compliance regulations are key drivers of this emerging industry mindset.
Consequently, insurance companies are being pushed out of their traditional business operations and forced to rapidly assimilate technological advances that other financial services firms, such as banks and brokerage houses, have used for most of the past decade.
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