Business process management is a technology that can reduce a company's automation costs and aid in regulatory compliance, but according to one industry analyst, "most of the industry is not doing anything" to implement it.
Indeed, 58 percent of insurers polled by Forrester Research Inc. reported that they would not buy BPM technology, noted Craig LeClair, senior analyst for information management at the Cambridge, Mass.-based firm.
Just 11 percent of insurers said they would make a first purchase of BPM, while the remainder plan on upgrades, he added while speaking at the Life Office Management Association's recent Emerging Technology Conference here.
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