In light of these three potential bottlenecks, insurers must resist the silo approach because process, content and data must mesh to drive operational improvements.

Predictive analytics allow advisors to more efficiently service and communicate with clients. Those [advisors] who don't leverage these tools will find their practices more expensive to run, as they won't be able to service a greater volume of clients as effectively.

Often insurance companies buy applications on a silo-by-silo basis. They'll lack integration across processes or even similar systems. But we're now seeing the development of business process management philosophies or managing entire processes. That requires technologies to deal with the content that affects decisions along the process.

Through a business module mapping exercise, business unites can pinpoint common functions in different areas of operations, which serves as the basis for a service-oriented architecture.

Content is the third prong that insurers need to enterprise.

Carriers have a lot more flexibility today in their choices to buy or customize technology to transform their operations.