Recent developments in information technology and Web-enabled systems have made it easier for insurers and reinsurers to oversee global operations in a way that wouldnt have been possible even two years ago. They are reaping advantages from improvements in internal efficiencies in areas as diverse as underwriting, claims, data warehousing, policy administration, financial reporting, and human resources.
But the efficiencies go beyond these internal ones: IT officials with ACE INA, GE Employers Reinsurance Corp., and XL Capital Group agree the development of Web-enabled systems has created a more efficient business process and provided access to talent without geographic constraints. It also can offer a welcome side effect of better service to clients.
While the ultimate aim may be a paperless, end-to-end process from binding of business to payment of claims, it will take some time for the industry to reach that point. Globalization of IT systems currently is limited to specific back-room functions such as financial reporting, human resources, claims, and standardized software.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
