Reengineering in Insurance

In: Business and Management

Submitted By gicherumburu
Words 626
Pages 3
Reengineering in insurance

Introduction

Reengineering is always a painstaking process that is very taxing both mentally and physically. This is irrespective of the organization undergoing reengineering. Working with an insurance company, a service provision industry comes with expectation as the alignment of the goals of the organization with service provision in order to provide competitive products in the market.

Clarification and assessment of the organization’s context (competitive strategies and objectives)

The insurance company has known its fair share of success despite the numerous challenges on its path. This success has been safeguarded by its core objectives and the competitive strategies put in place. As a business, the company has its objective as profit maximization through increasing the sales and minimizing the wastage. Profit maximization could only be attained through coming up with responsive products and intensive sales. The products have been designed with the particular need to be catered for in mind and not the other way.

Core business processes

In the attainment of the goals and objectives of the organization, various fundamental processes have been undertaken. These are actually the stones on which the success of the organization is built. They include the following-:

Product development- this process has a bearing on the success of the organization as it determines how responsive the organization is seen to be to the demands of the society. Various products have been introduced in the market customized to suit particular situations.

Sales and marketing- this has been important not only in creating the awareness about the various products that we have but also in increasing the output of the. It has been undertaken through collaboration between the company and the brokers and the agents. Key activities…...

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