Lack of back-office automation could mean insurers are missing out on the benefits of online business to business (B2B) exchanges, according to Eastman Software.
It said insurers risked becoming “epariahs” and not benefiting from collaborative commerce.
Eastman Software said this was particularly the case in the areas of shared claims processing, bulk purchasing and sharing information.
Pritesh Kotecha, Eastman managing director UK and Ireland, said: “Companies that delay automating their back-office systems will be slower to do business with and harder to collaborate with.
“They will not, therefore, be particularly appealing as business partners. Since exchanges operate as clubs, some more exclusively than others, being an appealing partner will matter enormously.”