It’s not news that digital transformation is changing the insurance business. Now companies are under more pressure to gain a better understanding of their content.
We historically have managed insurance processes and business by data, which is important for process automation, but decisions are made by skilled case workers (from underwriters to claims managers) from expert interpretation of content they receive (documents). The majority of key decision-making is based on complex information found within customer files, so it’s no surprise that uncovering essential content is now the No. 1 priority for insurance leaders. In fact, according to a McKinsey report, as much as 80 percent of auto insurance claims will be adjudicated automatically while 80 percent of all life insurance policies will be issued straight through without requiring any of the usual health checks. This is why content is king.
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