The soft market has prompted insurance companies to look at document management in a new way.

Investments in technology have been seen as a means to get new business, not on servicing policies better, explains Nicolas Michellod, a senior analyst in Celent's insurance practice and author of a new report, The Market Dynamics of Document Management. “Now with the market the way it is, it's more difficult to get business so insurers are looking at ways to get to know their customers and business partners.”

Insurers need to reconsider the way they communicate with customers. Currently, internal structures are complex and multiple document composition engines are used, explains Michellod.

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