1. ) WHAT WERE THE PROBLEMS FACED BY INCOME IN THIS CASE? HOW WERE THE PROBLEMS SOLVED BY THENEW DIGITAL SYSTEM?
Income·s insurance procedures were really boring and paper-based. This resulted to humongousIncome besides experient frequent dislocation of the HP 3000 mainframe which hosted the coreinsurance applications and the accounting and direction information systems. In add-on tothis. HP 3000 back-up system merely allowed Restoration to the old day·s back-up informations. Hardware failures caused six yearss of complete downtime. COBOL plans besides encounteredfrequent dislocations that halted the systems and caused impermanent breaks. At the sametime. development of new merchandises utilizing the COBOL is rather cumbrous and took hebdomads. evenmonths. to carry through.
They besides lost chances to cross-sell because dealing processingfor policy underwriting was still a batch procedure and information is non available to agents andadvisors in real-time. Through the new digital systems. these jobs were addressed. The paper-based insurance procedures were replaced by a paperless platform. Under the new system. alldocuments are scanned and stored on ?trustedµ storage devices. Frequent dislocations wereaddressed by the high-availability platform. Multiple waiters are hosted and connected to morecommunication lines that are ?load balancedµ . The new system besides addressed downtimes dueto dislocations by its hot back-up disaster-recovery centres. The new digital system alsoaddressed the slow development of new merchandises by COBOL through the consecutive throughprocessing workflow capablenesss of the new system.
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2. )
WHAT TYPES OF INFORMATION SYSTEMS AND BUSINESS PROCESSES WERE USED BY INCOME BEFORE MIGRATINGTO THE FULLY DIGITAL SYSTEM?
The insurance procedure of Income was really manual and paper/file intensive. Filled-up applicationforms of clients were sent by agents through messenger. Their aggregation agenda causes holds oftwo to three yearss. The Office Services log. kind. and send paperss to subventioning. Proposalswere allocated to staff indiscriminately. No system was in topographic point for proper assignment of undertakings per staff. Voluminous paperss are manually sorted and stored by a figure of staff at their warehouse. Since there was no clear papers direction system. retrieval of paperss take yearss toaccomplish. Income besides made usage of HP 3000 mainframes which were really undependable due tofrequent dislocations that resulted to downtime. decreased productiveness and wasted manpower hours. COBOL plans were besides used which besides encountered proficient failures. At the sametime. COBOL plans were really slow in developing new merchandises for the company ensuing tolost sale chances.
3. )
DESCRIBE THE INFORMATION SYSTEMS AND IT INFRASTRUCTURE AT INCOME AFTER MIGRATING TO THE FULLY DIGITALSYSTEM.
Harmonizing to James Kang. CIO of Income. the Java based eBao LifeSystem from eBaoTechnology is really customer-centric. It provided seamless integrating with imagination and saloon codetechnology. It besides contains a merchandise definition faculty that supports new merchandises. newchannels and alterations in concern procedure. Data migration of Income·s single and groupbusinesses was successfully implemented and customized. The new system was operational onhigh-quality platform with multiple waiters and communicating lines. The new system alsorevamped concern continuity and the company·s catastrophe recovery program. A real-time hot back-updisaster recovery centre was implemented. Business procedures went from paper intensive to paperless through digital storage and records. Many users can entree the system at one clip. any clip. and anyplace.
4. )
WHAT BENEFITS DID INCOME REAP FROM THE NEW SYSTEM?
The robust architecture of the waiters minimized downtime happening. This is made possible withthe usage of two or more waiters connected by two or more communicating lines. Income alsoreduced and finally eliminated the usage of paper. Under the new system. all paperss werescanned and stored on ?trustedµ storage devices ? secured. dependable digital vaults that enabledstrict conformity with rigorous statutory demands. Staff members besides enjoyed faster accessto information. With the usage of the consecutive through treating workflow capablenesss of the newsystem. Income saved every bit much as 50 per centum on clip and costs in treating policies. Time indesigning and establishing new merchandises were besides reduced from hebdomads to yearss utilizing the table-driven-rule-based product-definition faculty.
5. )
HOW WELL IS INCOME PREPARED FOR THE FUTURE? ARE THE PROBLEMS DESCRIBED IN THE CASE LIKELY TO BEREPEATED?
In the insurance industry. information systems are really of import in guaranting merchandise and services·competitiveness. Customer questions should be addressed accurately and quickly. Productsshould be invariably improved and new designs should ever be made available. With the newinformation system. Income is now equipped to confront the challenges of the industry. To guarantee thesuccess of the new system. proper execution and control should be done. Continuoustraining should be given to the staff to guarantee proper usage of the system and to maximise thepotential of the system. The system should besides be continuously improved through the proper direction of feedback from users. Ascents should besides be done sporadically to get by withthe alterations in the demand of the industry and the market.
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