SYNOPSIS

NAME

DONA CHAR

CLASS

TYBBI

SEM

VI

ROLL NO

166206

YEAR

2016-2017

TOPIC :- A STUDY OF
INFORMATION
TECHNOLOGY IN INSURANCE

INDEX

SR NO

I
1.1

TITLE
INTRODUCTION TO THE STUDY

INRODUCTION

1.2

OBJECTIVES OF THE STUDY

1.3

NEED FOR THE STUDY

1.4

RESEARCH METHODOLOGY

II

INFORMAATION TECHNOLOGY IN INSURANCE

III

INSURANCE AND ELECTRONIC, COMMERCE, E-INSURANCE

IV
V
VI

INFORMATION TECHNOLOGY IN STAGES OF INSURANCE POLICY

SELECTION OF RIGHT TYPES OF IT SYSTEM FOR INSURANCE
SECTOR
MOBILE AND WIRELESS APPLICATION IN THE INSURANCE
INDUSTRY

RECOMMENDATION
CONCLUSION

1. INTRODUCTION TO THE STUDY

1.1 INTRODUCTION
The present scenario is such that the products sold with the help
of internet. The technological advancement in such that force the
companies to take such steps still the full-fledged use of Internet
is not done our country. As suggestion earlier the Internet based
life insurance will help the companies to reduce the transaction
cost and time. At the time IT cannot improve the quality of service
to its customers.
1.2 OBJECTIVES
I.

Understanding and studying the various uses of

information technology in different fields of insurance
sector.

II.

To make in depth study regarding current status of IT in

insurance.

III.

To study the various changes brought in by IT in the

insurance sector through its advent.

IV.

Understanding the importance and purpose of IT.

1.3 NEED OF THE STUDY

In todays corporate and competitive world, I find that
insurance sector has the maximum growth potential as compared
to other sector. Insurance has the maximum growth rate of 7080% while as FMCG has maximum 12-15% of growth rate. Despite
recession this sector has noticed a growth rate of around 35-40%.

1.3 RESEARCH METHODOLOGY

DATA COLLECTION
The input for the project has been collected keeping in mind the
objective of the project and accordingly relevant information has
been found. The methodology used is a descriptive method of the
research.
SECONDARY DATA
The data had been collected by reading various book of IT. The
data regarding Information Technology introduction, recent trends
was collected from their official website on the recommendation
of the personal intern
RECOMMENDATION

Insurance companies should improve their technical

efficiency by upgrading their information support and by
developing R&D department in their respective organization.
Management of insurance companies should accept
meaningful computerization as a total managerial
responsibility and should adopt appropriate strategies for its
implementation.
IT should be used as a tool to increase the companies'
competitiveness and its prosperity.
A good web site should develop so that consumer can
actually transact its business.

CONCLUSION
From this study I would like to conclude that the insurance market
is being revolutionized by technology at a high speed. There is a
paradigm shift in the way insurance business is being carried out
today. IT is being increasingly used as an enabling tool to carry
out insurance business more effectively. IT includes computing
technology, networking technology & advanced electronics. The
convergence of computer and telecommunication has generated
various computer networks making the business data transfer
feasible. Because of IT insurance companies are able to provide
various quality services to their customer such as EPS, issue of
payment premium facility and so on and thus it make their
customers satisfied. But, there are prominent challenges faced by
insurance company i.e. Security. Many users are reluctant to do
business on the internet due to security reason. It is also argued
that internet related technology were not fully available to the
nationalized insurance companies. So further I like to conclude
that insurance related technology should developed in
nationalized and international level so insurance business will
grow more rapidly and more effective

BIBLOGRAPHY
BOOKS:

INSURANCE AND RISK MANAGEMENT- P.K. GUPTA

PRINCIPLES OF INSURANCE MANAGEMENT.- GULATI, NEELAM

CLAM SATTLEMENT VOL-V (ICFAI)

INSURANCE CUSTOMER SERVICE-KBS KUPA

GROUP AND HEALTH INSURANCE(ICFAI)

LIFE INSURANCE VOL-I

WEBSITE:
www.google.com
www.licindia.in
www.sildshare.com