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Information Technology in insurance sector

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    CHAPTER 17CHAPTER 17

    INFORMATION TECHNOLOGY INFORMATION TECHNOLOGY

    Presented by:-Presented by:-Supriya S. Chavan,Supriya S. Chavan,

    A. A. O.,Investment Dept.A. A. O.,Investment Dept.

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    INFORMATION TECHNOLOGY

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    Through worldwide network of computers. One can access

    any web-site on this worldwideweb.

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    INTERNETThe internet is a worldwide system

    Simply sitting in your living room youcan keep in touch with entire world.

    It has become possible to send andreceive information almostinstantaneously.

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    Internet allows access for anybody fromanywhere.

    One can access the same throughcomputers.

    Information travels through the internetat incredible speeds.

    It cuts across international boundaries

    Once information posted on a 'Website' isavailable to anybody from anywhere inthe globe, at no cost.

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    ProtectionProtectionAccess to the information can beAccess to the information can beprotected and made available to specifiedprotected and made available to specified

    individuals.individuals.By allotting password to the individuals.By allotting password to the individuals.

    Sometimes we may require to pay a feeSometimes we may require to pay a feefor information.for information.

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    IntranetIntranet is an in house network. Restricted toprivate circulation.

    Intranet will be available only to its offices and

    personnel. The difference between internet and intranet issimilar to the difference between newspaper andin-house newsmagazine.

    Circulars meant for internal circulation can beposted on intranet, & anybody will haveimmediate access to it.

    It is possible to restrict some information tocertain categories of persons by allotting

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    Usefulness of Internetand Intranet.Be able to operate from any location

    Be able to operate any time of day ornight

    For distribution of information thatchanges frequently.

    Send and receive mail

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    Communicate in real time across longCommunicate in real time across longdistances without any delay.distances without any delay.

    Display information for who ever isDisplay information for who ever isinterested.interested.

    E-commerce (buy & sell)E-commerce (buy & sell)

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    Benefits to agents

    Can receive all circulars and instructions issued byany office.

    Delays on account of postal transmission, dispatch

    department, being forwarded from one level toanother, absence of peons, wrong addresses,misplaced through oversight, lost in transit,can beavoided.

    Communication to and from office will be immediateand at low cost.

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    Any doubts with regard to proposal,benefits, premium, taxation, medicalexamination, insurability can be discusseddirectly from person concerned.

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    KiosksKiosk are unmanned information centres.With interactive touch screen.

    Kiosks are placed at public places. kiosk is a self contained unit that combineshardware and software.

    It is a blend of all current media includinggraphics, video, text, and quality sound.

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    LIC has kiosk on more than 100 locationscovering its divisional headquarters.

    Kiosk provide information on policy status,product information about all products

    can be used by those who do not have theirown computers and can not access theinternet

    Can be operated 24 hours a day

    Do not require any supervision like the ATMsof banks.

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    Rural areas The growth of economy will be faster inrural areas than in the urban areas.theincome levels and life styles arechanging.

    The normal channels of communicationare slow, because of distance involved,the lack of good roads and infrequenttransport.

    The telephone which has penetrateddeep into the rural areas is good enoughto as a base for building the internet.

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    ITC, a cigarette company, has taken a leadin expansion of telephone network in ruralareas. It had covered nearly a thousand

    villages by the end of the year 2001.If insurers will also take steps to build suchnetwork system in villages, it will be a bigboost to the agents working in rural areas.

    It will also become easier to extend theservices to the policy holders in ruralareas.

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