Report Summary:

This report provides an overview of the available document management software solutions for US insurers. The information in this report was collected directly from the solution providers using Novarica's proprietary universal RFI. The report contains a brief profile of each vendor solution listed in the contents, opposite.

Despite the move towards structured data, paper and electronic documents are still the predominant information storage and transmission medium for insurers. Novarica defines "Document Management" solutions as those that are primarily concerned with managing documents received from outside the insurance enterprise (applications, underwriting requirements, claims materials). They typically include functionality for scanning and indexing, search and retrieval, workflow management, and integration with underwriting, claims, and customer service applications.

Generally, insurers' document management strategies are part of a workflow optimization strategy. Insurers need to make sure that their critical case documents (primarily underwriting and claims) are accessible to any staff that may need to access them, when they need to access them.

The provider marketplace is diverse, ranging from smaller, insurance-focused enterprises to large public firms with significant insurance expertise. While other sectors of the insurance technology marketplace are in the midst of an active consolidation, the document management sector is a bit less dynamic, since many of the major players have either already been acquired (DST/AWD by CSC in 1993, Documentum by EMC in 2003, FileNet by IBM in 2006, ImageRight by Vertafore in 2007) or are too horizontal to rate highly on the shopping lists of the M&A folks in the insurance technology space. For more on activity in this space, see Insurance Software M&A Kicks into High Gear (May 2008).

CONTENTS

Introduction…2
Market Overview…3
AcroSoft…5
Cabinet NG…6
CSC…7
EMC…8
Hyland Software…9
IBM…10
Open Text…11
Perceptive Software…12
Pitney Bowes Business Insight…13
SunGard…14
Vertafore…15
Conclusions…16
About Novarica…17