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.
When AI Performs Work, BPM Matters More
AI is already helping people with process work. It can summarize notes, draft documentation, analyze feedback, prepare recommendations, and support decisions. For many organizations, that is where the AI conversation begins. But it is not where the conversation ends....
