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Essay / Research Paper Abstract
This 45 page paper provides an overview of the insurance industry in Britain, with a focus on how changes in technology have affected the industry. Four sections demonstrate the impact of technology on the organization, the impact on management and technology’s impact on the employee. Finally, the dissertation concludes with a look at how technology has impacted society as a whole, with some attention to the insurance industry. Included in the analysis is the use of tools such as Porter's Five Forces model. Bibliography lists 35 sources.
Page Count:
45 pages (~225 words per page)
File: RT13_SA201Ins.rtf
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Unformatted sample text from the term paper:
many. This is true worldwide and in a variety of industries. In honing in on the insurance industry in Britain, one sees a dramatic change in how the companies are
run, the sales forces operate and how management is implemented. In Britain, the insurance sector is of great importance. In fact, the insurance industry in the United Kingdom comprises one
of the nations largest sectors, and in 1994, it was estimated to be worth around pound 86 billion (Webb & Pettigrew, 1999, p. 601). The market is
generally divided into two types, which are general insurance and long-term insurance (Webb & Pettigrew, 1999). General insurance is worth about pound 33 billion, and includes such things as fire/property,
motor, liability, accident, and health insurance (1999). Long-term insurance on the other hand, is worth around pound 53 billion and is made up of industrial as well as pensions
and ordinary life insurance (1999). In respect to revenue, insurance companies receive premiums plus a significant income from investments (1999). Technology has had an impact on society,
but it has also had a particularly salient impact on the insurance industry. The obvious impact is the availability of services in most any company due to the constant nature
of the Internet. People can get a look at their accounts and so forth with a password and Internet access. They can purchase product or make changes electronically.
The Internet and the advent of call centers is just one difference. In fact, it has been estimated that the total market for investment on call centers and equipment in
Great Britains insurance industry was ?75 million ("75M," 1996, p.27). Of that number, direct writers make up most of the investment (1996). The call centers that cropped up in the
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