Electronic underwriting aids service, cuts costs; electronic data interchange can change underwriting and customer relations for the better with measurable results

Article Abstract:

Insurance companies are using electronic data interchange (EDI) to implement true electronic underwriting. Electronic underwriting improves the underwriting process and improves customer relations while cutting costs. EDI improves data interchange by supporting the direct inputting of customer data into an insurer's rating system, thus reducing paperwork and electronic keyboarding. EDI-based data interchange speeds up the underwriting process while reducing costs.

Column, Technology application

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Insurers still climbing Internet learning curve: the first benefit is faster turnaround

Article Abstract:

An informal survey of insurers suggests that most insurance companies realize the importance of having a presence on the World Wide Web but that most are simply using their home pages as marketing tools. Aside from presenting a corporate profile to users, the Internet can also be used to transact business processes. Sun Microsystems Inc's Java programming language is among the available tools to help extend insurers' Internet capabilities.

Telegraph & other communications, Specialized Telecom Services, Wired Telecommunications Carriers, Management, Online services, Internet services, Information services

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Insurers better not miss the electronic boat

Article Abstract:

Insurers are falling behind other financial services institutions in taking advantage of the information revolution. Insurers need to move information technology out of the back office, where it ha been used for internal cost-cutting, and out towards the consumer. The information superhighway and the speed of information exchange can aid in customer retention, the development of new products and overall improvements in efficiency.

Services

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