Kevin Rachel

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In an industry that's always been known for being conservative, a bold move to adopt state-of-the-art technology has resulted in one company projecting an overall 17-21% increase in annual revenue as a result of its m-business initiative. Conventional wisdom holds that you can't teach an old dog new tricks. This analogy extends, more or less, to the insurance industry and its use of technology. Overall, insurers, especially property-and-casualty insurers, have been slow adopters of information technology. While the integration of mountains of customer information and the conversion of batch-based legacy systems into real-time e-commerce systems has been underway for some time, industry pundits agree that the pace of change, compared to other sectors of financial services such as banking and brokerage, has been torturously slow. Today, however, large geographically d... (more)