Technology - What does it take to get a complete deal file around here?

(From Reinsurance)

Byline: Vineet Kalucha, president & CEO, Q.Know Technologies.

The current regulatory environment for insurers, reinsurers and brokers is placing significant pressures on companies to manage and track all related deal information efficiently, especially email. During a decade of dramatically increased usage of electronic documentation, the business world praised the effectiveness of desktop computing for speeding the work flow and enabling users to communicate with clients faster and more easily. Now the industry, and government entities alike, has begun aggressively evaluating the appropriate process for electronic information, as well as senior management's ability to track it and be held accountable, as appropriate.

Management pressures

The intense competition companies face today seems to grow greater with each year. Senior managers are repeatedly asked to do more with less.

This often means introducing new products, growing revenue, establishing vertical market beachheads - all while maintaining shareholder value and client confidence. Add to this the threats inherent in unmanaged electronic corporate communication (namely email) and the pressure intensifies.

In December 2004, Q.Know Technologies conducted a survey of more than 270 senior (re)insurance industry executives to ascertain management views following a period of unexpected scrutiny. The findings revealed that: