Insurance In China

Your student group is in charge of running a major insurance company, selling and servicing life insurance in China. What would your e-business strategy consider, and what decisions would you face?

The goal of the company should be to use the internet as a new channel to enable individual and business customers, as well as agents, to conduct business online, and have their objective to include reduce costs, improved productivity, and enhanced customer service. For this, Bricks-and-clicks model will be the ideal one to ensure that the co. can grow its business while at the same time, enhancing the services it delivers to its very large and vast customer base.

The co. can leverage the internet channel to sell its insurance products and reduce operation and internal communication costs - by moving manual processes to internet-based transactions, and as a result, surpass the competition by making maximum advantage of what the internet has to offer. Localized languages perhaps, and content would be an added advantage.

E-business solutions are a necessity to provide for the technically advanced customer base. At the same time, nsurance is something that everyone will require, and is not limited only to the IT savvy. So, access to the information also cannot be limited to the IT savvy only. Reach more customers, and increase sales b attracting new customers that do not have easy access to existing traditional channels such as branch offices. But it will be a serious consideration to have Systems and platforms integrate with any call centers or legacy systems already operational, to ensure the information at all these sources is upto date with the latest information - with least possible downtimes and systems failures.

The business is a very sensitive one, and involves a lot of investment in the form of trust, from the customers. That is why the customer has to completely understand what he

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