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Companies that implement effective technology solutions can gain a competitive advantage in today’s environment. The proper use of technology can enhance a company’s competitive position. Services industry is one of the key sectors where IT can be exploited to its maximum potential. Substantial portion of delivering services involves a lot of information sharing and customer interaction. Thus, the role of IT becomes paramount in facilitating a smooth flow of information, providing multiple channels for customer interaction, generating business intelligence and envisaging innovative use of technology for future. Financial services industry is one of the industries that have embraced Information technology in a big way in recent times. The emerging information technologies are influencing the delivery channels of financial services. In recent years, significant changes in the insurance industry have been forcing insurance providers to find better ways of doing business. Like other financial services providers, insurers are identifying new methods of generating revenue, supporting existing business processes, and integrating emerging business processes. To remain competitive and improve profitability, it has become increasingly critical for insurers to consolidate their legacy systems and data. This book covers technology developments in the insurance industry, its various challenges, benefits and overall implications.ISBN - 9788131408254
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