FileNet Introduces Business Activity Monitoring to Platform

FileNet Corporation, a developer of enterprise content and business process management solutions, has introduced the FileNet Business Activity Monitoring (BAM) solution, which provides insurance carriers with real-time event management and visibility of business performance data to enhance operational responsiveness and decision-making. Based on FileNet's P8 Enterprise platform, BAM runs in conjunction with FileNet's BPM capabilities.

BAM's capabilities offer insurance carriers continuous process improvement capabilities. David Carlon, director vertical solutions for FileNet, says, "This can provide insurance companies with the necessary context to make the right decision right at the moment it matters most in the business process." As an example, Carlon cites an insurance company having the ability to access how many claims it has processed, how many are going through an automated system without human intervention, how effective its automated business processes are, and how quickly exceptions are getting resolved. "They can take that knowledge and further fine-tune their rules engines to lower the rate of exceptions," he adds.

The solution enables insurance carriers to better manage such areas as risk, effectiveness of marketing campaigns, excessive payments, underwriting activity, claims loss, and fraud. Insurers can improve visibility into the effectiveness of business processes and overall organizational performance as measured against key performance indicators on both a macro and micro level down to each individual transaction or business process, notes Carlon.