Thursday, March 12, 2009

Focus on Fundamentals is Key to Insurance Companies

To survive and grow in today's challenging economy, insurance companies will need to successfully employ strategies for "getting back to fundamentals," Oracle Insurance executive Chuck Johnston notes in a recent article in National Underwriter Property & Casualty magazine.

In a follow-up interview, the vice president of strategy and alliances for Oracle Insurance added that one of the keys to today’s return to fundamentals is finding additional ways to reduce operating expenses to improve operational efficiencies. And for many insurance firms, an essential first step comes with transforming traditional workflow processes using more sophisticated business process management (BPM) applications.

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