Pitney Bowes Inc.
) recently collaborated with DocuConsulting - a professional
services firm specializing in customer communications management.
The two companies will jointly develop document generation
solutions to enhance customer engagement in the insurance
In order to live up to the expectations of customers, insurance
companies are faced with increasing need to modernize their
technologies. Amid fast evolving regulations and guidelines, these
companies must revamp their core technology to enhance the
engagement levels by providing customers instant access to their
policies. To bridge this gap, a modern document generation platform
that can create and deliver personalized documents was
In its efforts to meet this requirement, Pitney Bowes unveiled a
novel program named Fast Path to Engagement. The integrated program
is designed to allow the insurers to upgrade their technology by
gradually replacing the legacy systems. The program will convert
the legacy data and other critical contents to an updated format.
The new format can then be utilized to enhance customer interaction
and communication via the company's EngageOne Communication Suite.
The whole process is likely to be completed within this year.
DocuConsulting possesses expertise in migrating applications to
a modernized platform. The company has experience in transferring
important documents including policy production, correspondence,
statements and claims documents among others. In this program, the
company will be undertaking the crucial task of transferring the
old and unsupported documents of the customers to the new platform.
After this initial process, the program will focus on the remaining
legacy systems while simultaneously extending the new migration
utility tools to other solutions.
Pitney Bowes is making persistent efforts to create a niche for
itself in the documentation domain. Prior to this, on Jun 9, the
company formed a joint venture with
Broadridge Financial Solutions, Inc.
) and launched Inlet - a modern technology platform for making the
distribution of documents from companies to clients a smooth
The aforementioned platform will not only increase the
efficiency and reduce documentation costs but will also lead to
improved communications between policy holders and insurers,
thereby enhancing customer experience.
Pitney Bowes currently holds a Zacks Rank #2 (Buy). Some other
similarly ranked stocks in the sector include
Advent Software, Inc.
) both having the same rank as Pitney Bowes.
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