target audience: TECH SUPPLIER Publication date: Jan 2023 - Document type: Market Presentation - Doc Document number: # US49909223
CCM Solutions in Insurance: Key Providers and Use Cases Within Claims Management — Becoming a Digital-First Claims Organization
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Abstract
This IDC Market Presentation covers the customer communication management (CCM) application market in Europe. It emphasizes solutions that offer capabilities special to the insurance sector and focuses on claims management.
Tidal waves of disruption are sweeping the insurance sector, forcing insurers to rethink their methodology for business expansion on a fundamental level to keep up with the underlying shifts in customer loyalty and retention. The rise of the internet, price comparison aggregators, and embedded insurance are driving this strategy shift. Although each distribution disruption milestone was followed by economies of scale and increasing digital connectivity, insurers saw a decline in customer relationship ownership.
Before examining the leading suppliers and use cases in this IDC Market Presentation, we will first analyze market development for cloud-based CCM and the opportunity it brings for insurers. Insurers will focus on claims as they experiment with CCM technology to become what the industry calls "digital-first claims organizations."
This presentation covers the following sections:
- CCM Market: The Insurance Perspective
- CCM Adoption for Claims Management: The Insurance Framework
- Claims Communication Management Case Studies: A Glance at the CCM Market
- Decision Points and Wrap-Up