Comments on: Web based insurance software is the future http://www.RiskHeads.org/web-based-insurance-software-future/?utm_source=rss&utm_medium=rss&utm_campaign=web-based-insurance-software-future Musings on technology and corruption in insurance and finance. Wed, 01 Feb 2012 13:22:04 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Eddie http://www.RiskHeads.org/web-based-insurance-software-future/#comment-173 Eddie Mon, 22 Mar 2010 15:13:04 +0000 http://www.riskheads.com/?p=32#comment-173 I find it very interesting what's happening on the technology front in nations like India. It certainly sounds like one advantage of not being in the game in the 20th century is that they are now more "agile" with respect to new platforms. I've heard that a similar thing has happened in the mobile industry there--they're skipping over the "wired" era, to which much of the US remains chained. Regarding those who are stuck on legacy systems, change is just very difficult to catalyze. Inertia and loss aversion are incredibly powerful forces that dominate many business decisions. It will probably take a while before the consequences of not changing become damaging enough to force change. When that happens, change will happen quickly. I find it very interesting what’s happening on the technology front in nations like India. It certainly sounds like one advantage of not being in the game in the 20th century is that they are now more “agile” with respect to new platforms. I’ve heard that a similar thing has happened in the mobile industry there–they’re skipping over the “wired” era, to which much of the US remains chained.

Regarding those who are stuck on legacy systems, change is just very difficult to catalyze. Inertia and loss aversion are incredibly powerful forces that dominate many business decisions. It will probably take a while before the consequences of not changing become damaging enough to force change. When that happens, change will happen quickly.

]]> By: Adam Bishop http://www.RiskHeads.org/web-based-insurance-software-future/#comment-172 Adam Bishop Mon, 22 Mar 2010 10:56:52 +0000 http://www.riskheads.com/?p=32#comment-172 Hi Muthukrishnan, fascinating to hear this. I expect India are ahead of the game in some respects. I've seen plenty of regions (including the UK) where the majority are all stuck on 1970s mainframe legacy systems and are for some reason (that I cannot explain) unwilling to embrace change. Why do you think the shift has occurred quickly in India, is it perhaps to do with the age of the industry and companies as a whole or a better attitude? Hi Muthukrishnan, fascinating to hear this. I expect India are ahead of the game in some respects. I’ve seen plenty of regions (including the UK) where the majority are all stuck on 1970s mainframe legacy systems and are for some reason (that I cannot explain) unwilling to embrace change. Why do you think the shift has occurred quickly in India, is it perhaps to do with the age of the industry and companies as a whole or a better attitude?

]]> By: Muthukrishnan Nagarajan http://www.RiskHeads.org/web-based-insurance-software-future/#comment-171 Muthukrishnan Nagarajan Mon, 22 Mar 2010 10:23:36 +0000 http://www.riskheads.com/?p=32#comment-171 Adam I guess insurance agencies which sell policies from various insurers need to go on a web based platform in order to increase their efficiency and recude the load/cost of the insurer (home office). I can quote an initiative underway in India by life insurance co...they are extending web based access to their alternate channel partners to deliver core (lead generation, quote, policy issurance, claims) and non-core (marketing, sales support, training, etc) services . In India atleast almost all the insurers using legacy applications have moved towards a web based insurance application. Adam

I guess insurance agencies which sell policies from various insurers need to go on a web based platform in order to increase their efficiency and recude the load/cost of the insurer (home office).

I can quote an initiative underway in India by life insurance co…they are extending web based access to their alternate channel partners to deliver core (lead generation, quote, policy issurance, claims) and non-core (marketing, sales support, training, etc) services .

In India atleast almost all the insurers using legacy applications have moved towards a web based insurance application.

]]> By: Adam Bishop http://www.RiskHeads.org/web-based-insurance-software-future/#comment-12 Adam Bishop Tue, 08 Sep 2009 08:59:41 +0000 http://www.riskheads.com/?p=32#comment-12 Thanks for your comment Paul. I think you're right, you can't beat not having to install software or upgrade anything. Thanks for your comment Paul. I think you’re right, you can’t beat not having to install software or upgrade anything.

]]> By: Paul Harris http://www.RiskHeads.org/web-based-insurance-software-future/#comment-11 Paul Harris Tue, 08 Sep 2009 08:53:17 +0000 http://www.riskheads.com/?p=32#comment-11 From a business perspective I would have to agree that web based insurance solutions are the way forward. The single biggest selling point has to be their scalability. Regardless if you are an SME or a Large enterprise insurance company the rollout of web based products is seemless on the client side. The client doesn't have to worry about hardware issues, operating system issues all you need is a modern web browser and you hit the ground running. From a business perspective I would have to agree that web based insurance solutions are the way forward. The single biggest selling point has to be their scalability.

Regardless if you are an SME or a Large enterprise insurance company the rollout of web based products is seemless on the client side. The client doesn’t have to worry about hardware issues, operating system issues all you need is a modern web browser and you hit the ground running.

]]>