Article Abstract:
The insurance industry needs to adapt its services to the radical possibilities of product dissemination and delivery presented by the technology of the information age. As insurance is increasingly viewed by consumers as a sales item, insurance companies need to market their products in a technologically advanced manner if the services they provide are not to be viewed as deficient by consumers. Insurers need to integrate information technology into their service infrastructures and focus on developing core applications that will fulfill their present and future service needs.
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Article Abstract:
Intuit Inc and Essex Corp have teamed up to sell insurance via an Internet-based system for banks that will allow them to provide insurance products to customers through several selling channels. The system, designed by Interactive Insurance Services Corp, permits bank customers to receive term life rate quotes from several insurance companies. It includes an online transaction tracking feature and a reference library. However, the companies face competition from InsWeb Corp, an online insurance site that offers several types of insurance plans.
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Article Abstract:
Insurance Services Office (ISO) Inc's decision to become a for-profit company was influenced by insurance industry trends such as consolidation, specialization which has resulted in the formation of niche markets, and the pressure to curtail underwriting and claims costs. ISO seeks to become the ultimate source of casualty/property insurance information. It is also aiming at developing new markets by catering to underutilized products and services and by creating more comprehensive databases.
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