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Motivation: To understand the potential for Ø Cost reduction across the value chain of general insurance industry Ø Increase in revenue Ø Reduction in time to market by taking leverage of latest developments in IT and 3G provides the motivation for this study Cost Framework for General Insurance Industry: - The project is about designing a framework to understand the general insurance value chain to determine the cost distribution and how Information Technology could be used to bring down the cost across the value chain. As insurance industry has very low ratio of IT expenses to revenue, the framework will address if investments in various technologies can be used to bring down the cost. The framework will also look at the potential of some of the latest technologies that might be used in general insurance sector to bring down the cost or increase the efficiency or effectiveness of insurance delivery. This will help general insurance industry to take advantage of existing technologies to bring down the expense and loss so that the combined ratio is reduced to ensure profitability of general insurance companies.
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Paper Information
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Title: NA
Words: 801
Rating: None
Pages: 3.2
submitted by: butuniitm
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