Insurance companies must take the lead if the industry is to benefit from new IT solutions. That's the stark warning from Aon.
Speaking at August Group's briefing on business process management (BPM) solutions for the insurance industry last week, Aon executive director Phil Tyson called for IT change.
"Companies need enterprise solutions. The benefits of solutions like August's BPM software are clear. We won't enjoy the benefits until the major players embrace the technology," he said.
Tyson's warning was at odds with Lloyd's Names.
A Lloyd's Names source who did not want to be named said: "If any changes are needed to promote
BPM if would be preferable to enhance LMP rather than force management changes."