Posted by Jose Leon in Business, Insurance Industry, Process
on Feb 16th, 2006 | 0 comments
Taking a new request for a life insurance is a very complicated process. One
of the most interesting things I find is how they ask these strange questions to
determine the probability of you killing yourself. But, even if it matters or
not, the whole insurance industry is built in probabilities. Nobody though
possible the catastrophe that happened in 2005 with the hurricanes for example.
An interesting thing I also find is the length of these forms. They always
have multiple pages and have a huge amount of fields. The majority of the time
the forms have to be filled in an office or desk or a table. Is...
Posted by Jose Leon in Business, Insurance Industry, Process
on Dec 13th, 2005 | 0 comments
The insurance industry is one of greatest beneficiaries of BPM solutions. Automating business workflow in the organization, has shown to produce huge performance increases in productivity and reduce costs in areas like claims processing.
Analysis has shown that performance increases are around the 40% and 50% and that abandon call rates in call centers went down and service levels went up. I think this is because an organization, like one in the insurance industry, has a lot of processes that need to be executed and doing them manually always results in errors and slow response time, all of which are...