Losing the online budget battle
Article Abstract:
Insurers are so preoccupied with upgrading computers and reprogramming systems to prevent errors resulting from the Year 2000 problem that they have largely failed to pay attention to World Wide Web commerce. A survey on the Internet commitment of management in different sectors revealed that compared to other executives, insurance managers are behind in terms of execution. There was a lower percentage of insurers with a Web site and have no plans for electronic commerce. These are blamed on the allocation of a bulk of technology budgets to the Millenium Bug as well as internal strife.
Publication Name: Best's Review Life-Health Insurance Edition
Subject: Insurance
ISSN: 0275-0988
Year: 1997
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Insurers serve up an online feast - for competitors: the same features are drawing consumers to the World Wide Web have made snooping on competitors even easier
Article Abstract:
Insurance agents visit each other's Web and Internet sites to gather information on the competition's branch numbers and locations, market segmentation, product line premiums and business strategies. Online inspection of rivals' operations will provide critical input when preparing quotes for clients. It is also recommended that companies should limit and control the amount of information that agents and brokers post in their sites. Vital materials should be accessed only through hyperlinks.
Publication Name: Best's Review Life-Health Insurance Edition
Subject: Insurance
ISSN: 0275-0988
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
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