As the documentation environment of insurers becomes increasingly complex a broad reassessment is in order, argues Nicolas Michellod, senior analyst in the insurance practice at Celent practice, in a new report.
The report, "Rethinking Document Management: Three Principles," says this complexity is a byproduct of both volume and proliferating communication vehicles (smartphones and mobile devices) and distribution channels.
“Based on the trends we have identified, we think insurers need to establish a business case that allows them to rethink their approach and consider investments in the document automation space,” the report states. “The Celent vision for document management starts with internal organization and document compliance. Then we determine why there is a strong business case for moving document and communication outputs to portals. Finally, we propose an architecture that fits our vision.”
Accordingly, Michellod counsels insurers to create an architecture that stresses simplicity and unification of document management systems.
“We think there are opportunities to adapt the internal structures and procedures in order to gain flexibility without adding to the existing constraints imposed by an efficient control of communications and documents. In addition, to reduce the overall complexity faced by insurers, we think insurers should consider initiatives around consolidation of document management tools and better use of policy holder portal.”
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