Volume : II, Issue : VII, July - 2013

Impact of Information Technology in the Service Delivery of Indian Insurance Sector

R. Meikanda Ganesh Kumar, Dr. P. Anbuoli

Abstract :

The Insurance industry is facing the most significant economic and competitive challenges in its history. The ever-growing demand for better insurance products and the growing consumer movement has put forth a lot of challenges for this sector. To succeed in this rapidly evolving business climate, insurance companies are compelled to investigate ways by which they can improve bottom-line operational efficiency and still meet and exceed the expectations of their customers. Because of the Information revolution, the Insurance companies are utilizing the Information technology applications for better customer service, cost reduction, new product design and development and many more. In the initial years IT was used more to execute back office functions like maintenance of accounts, reconciling oker accounts, client processing etc. At present, Insurance companies are giving customers a distinct claim id to track claims on-line, entertaining on-line enrollment, eligibility review, financial reporting, and billing and electronic fund transfer. The paper covers various aspects of the use of IT in the insurance sector- Integration Technologies and Standards, Information Security, Claim Management, Insurance Inclusion, CRM Technology etc

Keywords :

Article: Download PDF   DOI : 10.36106/ijsr  

Cite This Article:

R. Meikanda Ganesh Kumar, Dr. P. Anbuoli Impact of Information Technology in the Service Delivery of Indian Insurance Sector International Journal of Scientific Research, Vol : 2, Issue : 7 July 2013

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