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No staff required Insurance Software policy automation in 2011
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Posted On :
Nov-15-2011
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Article Word Count :
396
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200 years people where processing insurance policies by hand using a quill pen, which underwriters at Lloyds of London still do today mainly for traditional purposes.
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200 years people where processing insurance policies by hand using a quill pen, which underwriters at Lloyds of London still do today mainly for traditional purposes.
100 years or so ago the type writer was invented and this doubled the efficiency process.
30 years ago dos character based systems allowed people to use a word processor and typing mistakes could be taken out before printing.
25 years single / multi user dos character databases became the norm and an administrator could type in some client and policy information and then print out a document that the system generated.
20 years ago, windows based systems enhanced this process and people could see exactly what the system was producing before it produced it.
15 years ago, these systems got better and electronically stored everything.
All of the above needed less people and paper at each process.
Today 2011, staff are no longer needed to process the business, nor to produce the documentation, as computers can automate the entire process from price comparison, to website to back office automation. Humans only need to get involved to build the processes that the computer uses, and to interact with clients for customer services purposes. Even some of this can be done by a computer. Using price comparison websites and Insurance Software, companies can process thousands of new policies automatically in a few minutes, that would take people many hours.
What is required is switched on Directors, Managers and IT people who can help built these Risk Management software. If a Manager can be both business orientated and mathematical/technical minded, then they will be king.
Processing 4000 policies a day may take 8000 man hours 200 years ago, or 1000 man hours 20 years ago. Today it can take 50 man hours.
All of the real increases have happened over the last 30 years, so imagine what systems will be like in 15 years time.
Anthony Roy is the Technical Director and CEO of Risk Free UK LTD, a company who have created Insurance Software system that no longer needs people except for high end people mentioned above. Good Sales and Senior customer services people are also needed as they work in tandem with what a Risk Management Software can do, plus help create the sales content of the website.
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Article Source :
http://www.articleseen.com/Article_No staff required Insurance Software policy automation in 2011_104540.aspx
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Author Resource :
a company who have created Insurance Software system that no longer needs people except for high end people mentioned above.
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Keywords :
Insurance Software, Risk Management Software,
Category :
Finance
:
Insurance
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