Better, Faster, Cheaper? Business Process Transformation in the Insurance Industry

Topics:
Insurance
Tags:
Business Operations,
Business Process,
Business Process Transformation,
Corporate Insurance,
Electronic Data Systems Corp.,
Insurance,
Insurance Company
Source:
Electronic Data Systems

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Overview: Intense competition is driving a growing number of insurers to take a closer look at the way they manage business processing. Insurers' cost structures have traditionally been higher than those of banks, because of a proliferation of legacy systems, the use of labor-intensive networks of agents and brokers to sell products, and the ubiquity of paper based processing of underwriting and claims. Based on a survey of 49 insurers worldwide and a programme of in-depth interviews with business leaders and industry analysts, this briefing paper looks at the dynamics of successful reorganization in the insurance industry and draws a number of conclusions.

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Format: PDF | Size: 179KB | Date: Jul 2005 | Pages: 29

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