Introduction

According to the Bureau of Labor and Statistics in 2006, the United States Insurance Industry employed over 2 million individuals. This mix of employment included a combination of office and administrative support, dedicated sales staff and management personnel, all driving the daily operations of an organization.

Business Case

While the insurance industry has made technological advancements over the past few years, business professionals agree that the insurance industry has yet to reach the technological progress made in the financial industry. Myriad issues exist that complicate the advancement of the conventional insurance technology infrastructure including:

• The lack of ability to 'package' (i.e. quote and bind) products and services for the consumer.
• Differing levels of automation efficiency - where an insurance company is unable to either provide a quote through their system or bind and issue an insurance quote through their system.
• Lack of knowledge on how to leverage their current legacy systems in the new technology landscape.

Solution

Developing and utilizing the right technology solution to increase efficiency, whether ensuring compliance, automating business processes and / or leveraging legacy systems, can help the insurance industry to accelerate the way business is conducted.

DATA Inc. has provided the right mix of resources, knowledge and experience by helping bridge the gap between legacy systems and new age technology to develop solutions that enhance and streamline multiple business processes within insurance companies, allowing the personnel that drive the daily operations of an organization to do their jobs more effectively.