According to Zurich North America, When That 'Soft Market' Hits the Insurance Industry, Information Technology Can Be the Hero in Delivering A Value Proposition.Business & Technology Editors NEW YORK--(BUSINESS WIRE)--Nov. 12, 2002 How IT is helping enhance customer experience, drive sales and manage expenses When the pricing cycle in the commercial property and casualty insurance marketplace eventually transitions from the current "hard market" to a more price-competitive "soft market," the true industry leaders will be those who can deliver value -- the price/service relationship -- to their customers. Leaders in this industry are those companies that are developing new and improved IT systems and processes to enhance their current and long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. value proposition, such as real-time 1. real-time - Describes an application which requires a program to respond to stimuli within some small upper limit of response time (typically milli- or microseconds). Process control at a chemical plant is the classic example. , customized information; ease of doing business; and solutions that have a significant positive impact on a customer's bottom line. Dave Saul Saul, first king of the ancient Hebrews. He was a Benjamite and anointed king by Samuel. Saul's territory was probably limited to the hill country of Judah and the region to the north, and his proximity to the Philistines brought him into constant conflict with them. , executive vice president and chief information officer at Zurich North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , can discuss IT trends, in general, and what Zurich is doing in the following areas: -- How Zurich is developing industry-leading (in terms of both sales and innovation) web-based sales and marketing portals. -- How enterprise data warehousing systems promote the flow of information across lines of business, customer segments and distribution channels - and how Zurich is overcoming the challenges of connectivity. -- How the industry-leading RiskIntelligence system is being expanded to provide Zurich customers with real-time information that enables them to actively manage, rather than simply track, their risk/claims exposure. -- How Zurich is developing an integrated document management system that will allow all materials to be electronically stored and accessed in flexible workflows using electronic queues. Zurich North America (www.zurichna.com) is a leading commercial property-casualty insurance provider serving the multinational, middle market and small business sectors in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Canada Canada (kăn`ədə), independent nation (2001 pop. 30,007,094), 3,851,787 sq mi (9,976,128 sq km), N North America. Canada occupies all of North America N of the United States (and E of Alaska) except for Greenland and the French islands of . Headquartered in Schaumburg, Ill., Zurich North America has 11,650 employees and wrote $10.9 billion in premiums in 2001. Zurich North America includes the Zurich U.S. business units (Corporate Customer, Middle Markets, Small Business, Strategic Partnerships, Construction, Specialties, Zurich Global Energy, Surety An individual who undertakes an obligation to pay a sum of money or to perform some duty or promise for another in the event that person fails to act. surety n. & Financial Enterprises and Empire Insurance Companies), as well as Universal Underwriters Group and Zurich North America Canada. The Zurich U.S. pool of companies is rated A (excellent) by A.M. Best and A+ (strong) by Standard & Poor's. Zurich North America is a member of the Zurich Financial Services Zurich Financial Services Group is a major financial services group based in Zurich, Switzerland. Global operations North America The US consumer market is served primarily by Farmers Insurance Group the third largest personal lines property & casualty insurance Group. |
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