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Although insurance companies have used Information Technology with varying success over the past decade, they have not harnessed the potential of IT to the full. ...
In short the insurance industry is being pushed into the uncharted waters of dealing with regulations, competitive pressures and market pressures, leaving many companies looking to their IT managers for help in providing a quick fix solutions.
Today we are witnessing lot of changes in the Insurance Industry. Traditional mode of distribution through agents is giving way to new phenomenon, where the insurance products are being retailed through banks, supermarkets, hospitals, auto dealers, kiosks etc. ... IT is the biggest enabler when it comes to Insurance. ...
The adoption of Web IT platform will have profound implication on the Insurance Companies. ...
As we see an Industry, which has traditionally been risk averse and has shied from the use of technology for competitive advantage, is now seeking to use technology as a tool for success. Indeed the new age technologies are nothing sort of boon for the Insurers, no doubt they are looking at technology as a panacea for all their problems.
Approximate Word count = 842
Approximate Pages = 3.4
(250 words per page double spaced)
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