The insurance sector is a complex business based on a large number of regulations and possibilities. They work with a high volume of information in order to change the price and design of the product in order to adapt to the customer’s needs.
For years this sector has been aware of the importance for its development of having a document management system, enabling an Internet policy to direct relationships with suppliers and customers. Almost every action has been modified by incorporating technological solutions that do not add significant value for these companies but have become the basic working tool. The high level of application of ICT enables, among other things, the increase of the quality of service provided to individuals and companies.
Aware of the importance for the organizations of having a simple document management software, first, and as expected, were the big companies in this sector making the change by adding new technologies as an essential condition for their business development, followed by medium and then smaller ones. In addition, all companies have focused their business on these business document management platforms.
In fact, management from these organizations is aware that the investments to document management technology provides a benefit to managing business because through them they have a closer contact with the customers, agents and suppliers therefore the global service has improved.
Secure mobility: a challenge for manufacturers of document management software
The network is becoming a key element of the competitiveness of any company in the market and insurance is not an exception, it´s just the opposite. This sector is one of the best business practices that are resisting the problems caused by the crisis, it may be due to the saying “better safe than sorry” and even in these conjunctive circumstances. Document management systems have had a prominent role in this field, because it doesn´t just optimize internal processes but also provides the end user to be in touch with the insurance company 24 hours a day and manage many activities through the Internet.
Along this line, the insurance companies know that the new technologies applied to the needs of any company involve a reality with two features: first, a productivity tool such as document management software and the other a service platform. In fact, with the developed computer system simplifying the administrative procedures used have a great attendance component which affects the mobility of workers.
But at the same time, technology has also meant that mobility is also a feature of the users, since according to the Eleventh Report On Line Insurance Sector in Spain by Cap-Gemini in April 2011, insurance companies are aware that the short-term trend users of mobile devices is to use these devices for the recruitment and / or consultation of the issues related to the provision of their insurance. In fact 61.90% of the insurance companies give importance to the emergence of smartphones and tablets. The percentage of these organizations providing social networks is the highest, reaching 76.19%. These figures show that Internet does not yet have the strength it could have because in many instances even though prices are consulted on the web, recruitment continuous to be performed in the office or by phone.
Figures show that TIC will continue to be a rising tool in this sector and essential to maintaining a channel of communication that promotes optimal management, maintenance and detects possible problems, questions or improvements on insurance policies. As we mentioned before, one of the “families” of tools which all these insurance companies have installed are the document management applications, to improve the management processes or document generation, and the suppliers of document software or other solutions aim at big insurance companies trying to adapt to these mobility trends.
Tools for internal
The new technologies are important in terms of external contact and when n it comes to making improvements internally, such as established control panels, automation, and better monitoring strategy, activity and company results.
In this regard, in the chapter of new technology funds, the insurance companies, as mentioned, have large sums of money aimed at development and acquisition of solutions that meet their needs. These needs are so varied, that even in a relatively well defined area, such as document management, it is difficult to find a single supplier and even more difficult a single document management solution which meets all the requirements. If the trend use to be searching for integrated solutions, currently realized one for all does not usually meet all the different requirements from each area. It´s not the same to have the need of a solid solution of document management and storage, on a management system of document approval or a sophisticated software which allows management and professional document generating as complex and varied as the insurance policies.
For this reason, nowadays the priority is to find the application which best meets these requirements and, therefore, the TIC not only needs investments for material goods, but also consider the importance of the budget aimed at the indoctrination of the workers, to make an appropriate use of the new document manager.
And that is the bet of the company. For the technology not only results in a greater capacity for technological investment, but cultural changes to support and wise use of technology and continuous updating of the human teams linked to this function.
The continuous progress of the TIC requires a high level of knowledge update of the professional using this technology. In this chapter, on training, it is obvious that the best document managers are those which do not require training for its use, but the most optimal for companies in the insurance industry being the most intuitive and called user friendly.
To conclude, it should be emphasized that the manufacturing companies of technological software and document management must adapt through the document management systems to the company requirements of the insurance industry, for them to offer their clients simple platforms that are easy to use, which will affect the economy benefits.
Source: Eleventh Report On Line Insurance Sector in Spain by Capgemini
Julio A. Olivares
DocPath President and Founder
Document Software Solutions
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