With any number of applications bringing together a knowledge management platform, the trick is in the integration. If the sources aren't integrated, the information isn't much good. But many insurance companies are not taking the next step to document technology. OIT's Buchard suggests other priorities have diverted carriers from the knowledge management course. Insurance companies were ready to do this two or three years ago.
Comparative rating is so huge, companies are back-shelving everything else.
In fact, knowledge management could help insurers reverse a trend most common with the Internet consumer. If the insurance company uses knowledge management, it may gain customer loyalty. Knowledge management could go a long way to help stabilize an insurer's customer base. MultiManager imaging suite in its underwriting department and plans to use imaging in claims later this year. The other 30 percent are handled manually by an underwriter.