Discuss the importance of Supply Chain Management (SCM), electronic communication tools, Customer Relationship Management (CRM), and/or data management as it relates to e-business strategies for an insurance company. Please give specifics.© BrainMass Inc. brainmass.com June 3, 2020, 8:25 pm ad1c9bdddf
I would suggest the use of latest technologies such as ecommerce and wireless mobile technologies.
E-commerce based insurance would derive their profitability from higher end services. The distribution of insurance through ecommerce is unique, offering a single window for all banking needs. It would enable customers to view and transact with the bank from their computers 24 hrs / 365 days a year, from anywhere in the world. Now there is an integration of system of the Bank with its vendors and customers with the help of new technologies such as XML, EAT and wireless protocols. New technologies have helped in empowering employees at the desktop. Thus with the use of e-business concepts and Web technologies one can manage beyond the organization, upstream and downstream. It automates the total supply chain processes to improve revenues and better profits. For example www.people.com is distributing insurance through internet.
With heavy competition and innovation around, every product or service, experiences a strain on its margins. To improve such margins and subsequent profitability, the most immediate and obvious solution that comes into everybody's mind is to cut down its ...
Discuss the importance of Supply Chain Management (SCM), electronic communication tools, Customer Relationship Management (CRM), and/or data management as it relates to e-business strategies for an insurance company. Please give specifics.