BPM: Workflow And The Competitive Edge — Improving Policyholder Services With BPM

For most of the last century, insurance agencies were cornerstones of their communities. Agents met with customers face to face, and transactions were sealed with a handshake. Policyholders often were on a first name basis with their agents, and organizations were motivated by a sincere desire to provide the best customer service possible.

While the electronic age has changed many insurance processes, it has not altered insurers' fundamental motivation of service to their customers. Insurers are recognizing that processes that are dependent on paper tend to impede this objective. Policy issue, agency support, loan processing, billing, claims processing, underwriting support, and other operations can be so paper-intensive that insurers' abilities to serve their customers in a time-sensitive and efficient manner can be hindered. This trend is universal; however, organizations have recognized that when they are successful in tackling their paper challenges, they are able to realize better customer service and retention, as well as increased revenues.