There hasn’t been a lot of press covering the insurance industry’s enterprise content management business function lately. Yet this area has been subject to a great deal of change over the past few years, especially as it applies to the move many insurers are making toward digital transformation.
Consider the fact that at least 53% of insurance executives expect “massive” digital disruption within the next 12 months, according to “Digital Pulse 2015” by Russell Reynolds Associates. Yet admitting that digital disruption is upon us doesn’t necessarily equate to the reality of a response adequate for the pace of changes being introduced. Insurers are now ingesting more data than they can swallow from a host of new sources, including Internet of Things sensors, such as telematics, geospatial, weather and biosensors—melding with existing sources such as actuarial, claims and third-party data. Making sense of that this mix is just the beginning—we are facing an evolution of data to content to context, and the industry is still struggling forward.
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