The reports delineate between document creation solutions, which are those that are primarily concerned with the composition and creation of documents (policies, forms, customer and claims correspondence and account statements) and document management solutions, which are concerned with managing documents received from outside the insurance enterprise (applications, underwriting requirements, claims materials).
Yet, complicating things for carriers looking for either a creation or management solution is the ongoing cavalcade of mergers and acquisitions in the vendor space. In this year alone, well-regarded providers such as Lexington, Ky.-based Exstream Software Inc. and Frisco, Texas-based Skywire Software LLC have been acquired (by heavyweights Hewlett Packard Co., Palo Alto, Calif., and Oracle Corp., Redwood City, Calif., respectively). Despite this maelstrom, insurers still have a bevy of solid options, Matthew Josefowicz, director of the insurance practice at Novarica and lead author of the reports, tells Insurance Networking News.
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