The insurance industry of the top five information technology development trends

In recent years, with large insurance companies data on the in-depth progress, the overall competitiveness of the industry and constantly improve the level of modernization and information technology (IT) enterprises are more and more attention. The future, China's insurance industry will usher in a broader space for development, and information technology on the development of the industry will also play a decisive role.

The insurance industry of information technology in the future

The role of development

Information technology will become an important business decision analysis aids. With the development of the insurance industry, the traditional on-line transaction processing has been insufficient to enable enterprises to gain the advantage in the competition, insurance companies must operate their own business and related industries to analyze market conditions, in order to make the right decisions, not to be Out of the market. At present, the insurance industry has accumulated vast amounts of data, if traditional, consisting mainly of artificial means to deal with, it is difficult to play its value, can not come to a comprehensive, accurate conclusions. Only insurance companies rely on a strong information technology, advanced planning of the system architecture, and establish a data warehouse-based decision support system, and by the on-line transaction processing to the on-line analytical processing into a comprehensive, multi-dimensional reading of all kinds of information, The value of in-depth excavation which can accurately grasp the market to develop in line with future development trend of the decision-making, for the enterprise lay a good foundation for tomorrow.

Information technology industry for product innovation can provide protection. The same product of serious, is easy to copy the insurance industry has always existed within the phenomenon, which has significantly affected the company's innovative initiative. Similarly, as the financial services sector, Shanghai Pudong Development Bank has the advantage of relying on information technology to circumvent the problem: product innovation will be fully functional in a strong framework, design concepts leading IT systems, not only so that enterprises can quickly corresponding market needs, enhance A copy of the threshold. Competitors to copy a similar service, in addition to understanding the design of the products mode, still might have to amend its own system, which is obviously greatly increases the difficulty of copying. Shanghai Pudong Development Bank's success worthy of the insurance industry reference and give full play to the advantages of information technology can not only vigorously promote innovation, but also the protection of innovation, to promote industry-wide awareness of innovation.

A strong information technology will help insurance companies open up new sales channels. The future development of the financial industry is one of the important ways to open up new channels. IBM Global Business Consulting Services Division in the "2020 China's insurance customer-centric innovation and change," pointed out: By 2020, China's insurance companies will adopt the new channel mode to win customers, the emerging electronic channels will be developed into an important Sales channels. The emerging electronic channels, including: network, television shopping channels, mobile devices, such as self-service kiosks. At present, China has set foot in the online insurance sales and other electronic channels are also explored, including many issues, such as the security of transactions, sales of both interactive and follow-up services, have to rely on information technology to solve. Who made the first breakthrough, who is likely in the next competition and gain the initiative. For the financial industry with the China Merchants Bank is due to start earlier research project, first launched in the country only "one China Netcom," and hosting online banking business, becoming the leader in the industry. Strokes to the success has fully demonstrated that information technology will become the insurance industry for the future of major weapons sales channels.

Information technology will help enhance the insurance industry, the quality of service. With the increase in the main market, in an increasingly competitive industry, quality of service insurance companies become an important factor in attracting customers. A strong information technology business systems can protect the stability and improve the efficiency of day-to-day work, for clients with faster, better, more secure, thus directly improve the quality of service industries. The securities industry success stories to fully proved this point, in 2007, the stock market trading volume soared, but the company's business systems have withstood the test of a stable, convenient and efficient service, has won recognition. According to the industry, since 2006, the major securities companies have stepped up construction of information, and the successful completion of the expansion of the system upgrade, thereby safeguarding the temporary market to the company's business smoothly. At present, China's insurance industry is in a golden period of development, the rapid growth of business scale, it is necessary to ensure that the future quality of service, information technology support is likewise essential.

Information technology will promote the professionalization of the insurance industry, the Group of development. China's insurance market is becoming increasingly fierce. The author believes that in order to better adapt to the market, small-scale insurance companies may be in transition to professional management, and the larger insurance companies may achieve groups, cross-sectoral development. Domestic insurance companies must undergo specialized business units optimization, process optimization, the ultimate realization of business optimization, while foreign and external partners need to strengthen the cooperation and optimize the internal and external cooperation are indispensable for information technology support. Development of the Group of insurance companies may get involved in banking, securities and other fields, and cross-industry business, which requires in-house systems of different standardized transmission of information. At the same time, cross-sectoral data with a high degree of centralization, the system logic structure, stability, data-processing capacity and safety management will also appear higher level of demand. All of this will be on information technology to new challenges.

The insurance industry of the future development of information

Trend of

The insurance industry to accelerate standardization of information system building process. The insurance industry is data and information-intensive industries and make full use of industry-wide data in order to build a good external environment for development. Therefore, the implementation of the standardization of information systems and achieve industry-wide sharing of information is imperative. China's insurance industry standardization has just started, a higher starting point must go through a long complicated process. The author believes that the industry in promoting the standardization process, could be taken from outside the method, first in the market is large in scale, strong technical force, business representative of the company to establish a unified external information exchange port, and then gradually transform the company Internal systems, on the basis of the reality of our country to explore the establishment of the unified messaging industry standards and mature after a comprehensive promotion.

Training in both technical and operational capacity of the personnel. At present, China's financial sector still exist within such a phenomenon: the business sector that technology can not fully meet the business needs, while technology sector is unclear complained that business needs to consider the feasibility of the project inadequate. How to resolve the differences between the two is the insurance industry information construction must face the problem. The author believes that cultivating talent is a well-established approach, the company can pick experienced technical personnel training so as to fully grasp business structure and processes. They will both technical and business skills, on the one hand co-ordination between the departments, communication, to ensure the smooth inter-with the other development projects throughout the follow-up, in practice at any time demand, and assume the latter part of the system testing and training And so on.

Subdivision customer groups, to find the value of the crowd, in a targeted manner in data mining. The establishment of multi-dimensional data warehousing, data mining-depth development, is the insurance industry information construction hot spots. The author believes that China's insurance industry data warehouse construction has not yet highly sophisticated, there must be targeted for data mining, can yield higher efficiency. Underwriting profit margin is low important issues facing the insurance companies, according to 20/80 principle, the vast majority of the financial industry profits (80%) is a small number of customers (20 percent) created. In carrying out data mining companies, should focus on this small number of customers in search and analysis, the locked area, in-depth research, mining, the intrinsic value of high-quality, enhance their quality of the business.

Strengthen the building of information security, network to further expand sales channels. With the degree of social information in-depth, the network has become the focus of new sales channels. At present, companies should be targeted for research related to information technology: to strengthen security strategy to protect network communications security, increased on-line transactions in the course of interaction between the two sides of the links, so that network sales channels to further improve the mature, widely accepted by customers. Meanwhile, the number of single premiums are small in scale, but the development of a large space of insurance (such as home Property Insurance), can focus on network sales model as a pilot.

The use of information technology, exploring a new type of service model. Improve service quality, the company is an important means of attracting customers. China's insurance industry information into the future of services provided a vast space. I believe that, at present, the company should improve the system architecture, and optimize business processes, improve service speed and increase product features and so on intensify its efforts to facilitate as much as possible from the perspective of customers and improve service quality. At the same time, focus on the future, considering the introduction of fast, efficient, low cost, wide coverage of the electronic mode of service. As for financial management of insurance products, can refer to examples of self-service banking, insurance attempt to create a self-service equipment, round-the-clock to provide the information, details print services. This pattern in information technology have a certain pre-investment, but a follow-up saving a lot of manpower costs, and greatly facilitate the customers, will be widely welcomed, with the future development of the industry.