Achieving Business Effectiveness and Efficiency through a Comprehensive Information Management Strategic Program
Rajiv Gupta, Anthony Devassy and Ram Kumar
For an insurance business, data is its lifeblood. It drives most, if not all, significant decisions and outcomes including customer centricity, product design, pricing and marketing. Without 'good' data, an insurance business is almost blind. No matter how smart and efficient business's processes are, how advanced, savvy and solid the IT systems that support the processes are and how capable and skilful the staff who use the processes and technology are, if the underlying data and information used is not good enough in terms of its quality and integrity, the outcome such as effective and efficient decision making and providing good customer experience will be poor. The strategy of a business should recognise that information assets, supporting technology, business processes and people need to be coordinated and managed effectively in order to achieve quality business outcome through effective and efficient operations. This paper discusses about an award winning case study of a general insurance business that has successfully embarked in creating an information quality driven customer centric culture in the organisation by bringing four objectives relating to technology, business process, people and information to work together in a collaborative manner.