62 Pages Posted: 6 May 1997

Date Written: October 1994

Abstract

In this paper we have identified the major developments and issues that affect productivity and efficiency in insurance. We have used the designation "Life" to refer to developments and issues affecting life insurers and "P/C" for those affecting property/casualty insurers. The following is a listing of these issues: 1. Marketing, Relationship marketing, Distribution, Electronic data interchange, Market segmentation, Service centers, Point of sale policy illustrations, Unbundling of services, Innovative policies and products 2. Underwriting and expert systems 3. Data processing, General issues, Outsourcing vs. in-house, Centralization vs. decentralization, Mainframe vs. mini vs. workstations, Image systems, Technology, systems, and software, Links between mainframes and pc networks 4. Claims settlement 5. Miscellaneous, Total quality management, Reengineering, Downsizing Mergers and acquisitions, Management reporting 6. Financial risk management, Overview of risk, Balanced view of risk, Perspective on risk, Catastrophic risk, Asset-liability management, Capital budgeting, Derivatives, Regulation