Personalized Insurance: Leveraging BPM, BR and SOA in Insurance

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Competitive pressures, poor investment returns, substantial claims payouts, demanding customers and independent agents, new regulatory challenges and complicated processes have led to increased complexity in insurance operations.  Insurance professionals must be flexible and move quickly to respond to the conditions in their industry and achieve the three strategic objectives necessary to thrive: delivering new services, increasing customer loyalty and achieving a lower cost structure.

Competitive pressures, poor investment returns, substantial claims payouts, demanding customers and independent agents, new regulatory challenges and complicated processes have led to increased complexity in insurance operations.  Insurance professionals must be flexible and move quickly to respond to the conditions in their industry and achieve the three strategic objectives necessary to thrive: delivering new services, increasing customer loyalty and achieving a lower cost structure. Meeting these demanding objectives requires the continual improvement of a portfolio of differentiated financial services, which requires a significant investment in transforming IT. 

This session will explore the use of business process management, business rules management and service-oriented architecture to support personalized insurance intiatives such as single entry multiple carrier interface (SEMCI) in the request to quote process, "Know your customer", Straight Through Processing (STP), and Standard insurance forms based on ACORD XML.

Featured Speakers

Tom Dwyer, VP of Research, BrainStorm Group and Editorial Director, BPMInstitute.org

Tom Dwyer is the VP of Research for BrainStorm Group, the Editorial Director of BPMInstitute.org, an Editorial Board Member for SOAInstitute.org and a co-chair of BrainStorm Group's BPMI & SOAI conference series. He writes, presents and consults on topics that include Service-Oriented Architecture, Business-to-Business, Enterprise Application Integration, and Business Process Management.  Mr. Dwyer has conducted primary research and published extensive reports on the Application Software Infrastructure markets.

Before becoming an industry analyst in 1998, Mr. Dwyer spent 28 years in the computer industry in various engineering, marketing, professional services, and sales functions. He was a co-founder and general manager of a new BPM software venture at Xerox, which became a wholly owned subsidiary. Mr. Dwyer has held senior management positions in marketing and engineering at Wang Laboratories and Prime Computer and has developed and launched more than 15 software products.

Neal McWhorter, Chief Architect, Enterprise Agility

 

Neal McWhorter, a Chief Architect at Enterprise Agility helps organizations transform their business goals into tactics that can be implemented and monitored helping organizations increase their competitiveness by reducing time-to-market, reducing operational friction costs and allowing organizations to make use of their own and industry data to evaluate and optimize their operational processes.

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