BPM Insurance Strategies: 4 Steps to Better Processes
Insurers’ profitability (and survival) is being threatened by a myriad of challenges—rising policy lapses due to higher premiums, customer churn from tightening budgets, and skyrocketing customer expectations. Squeezed by these pressures, insurers must find ways to improve efficiencies in their core processes. But there is a way forward for insurers: Business process management (BPM), an approach to improving organizational processes that is designed to optimize work.