Technology has changed the way insurers interact with customers, agents and regulators, according to a new report "Emerging Insurance Technologies: Life, Annuities, and Pensions Industry Edition 2012," by Celent, an international financial research and consulting firm.
The report looked at emerging technologies, such as business process management and mobile and social media to see how widely they were being adopted in the insurance industry. What it found is that business process management is widely used, but mobile and social media are still in their infancy.
It examined the newest technologies in different categories, including growth and retention, risk and compliance, liability management and efficiency and cost control.
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