Innovation of Technology and Technical In Insurance Sector-Admiral Insurance

INTRODUCTION

In insurance sector, technology and technical innovation has determined growth to an enterprise. It is the industry where technological transformation is needed to be done on frequently. In this, it can be said that insurance is the contract which is represented as policy in which the individual and entity receives the amount of protection and reimbursement against the part of losses (Autio and et.al., 2018). It is industry where technological transformation is need to be done on frequent manner. Thus, Digital technology is very helpful to attract the customer in market. Moreover, product and services is need to be priced more effectively and it can be said that greater claims can be identified with greater accuracy. Present report is based on the activities of Admiral Insurance and this firm is providing its specialized services to offer car insurance with higher premiums. The main aim this firm is to offering lower insurance prices without compromising the quality in relation to product and services. Technological advancement is one of crucial elements in terms to offer effective services to customers. The technical innovation will work as to bring competitive advantage (Choi, 2018).

P1. Description on project aim and objective

The present report is based on the activities of Admiral insurance and its provide effective car insurance services with higher premiums. The main aim of this assignment is to find out the impact of digital services. The main motive of this enterprise is to offer insurance at lower prices without having compromise in quality of products and services. It is need to be Done in effective mode in terms to gain competitive advantage to the firm. In addition to this, effective ways to measures, control, price risk effectively so that there can be building of innovative and set target offering from seamless and deeper interaction (Druehl, Carrillo and Hsuan, 2018).

Insurers can have greater magnetization opportunities as they are taking initiatives in order to provide value added services to its customers. In this, technology considers market trends and preferences of customers. In addition to this, it can be said that insurance company have to peace with cutting edge technologies and it is helpful in terms to enhance end user experience. In this, analysis of data and value of legitimate customer interaction is essential because it has helped the insurance companies to maximize its profits. In 19thcentury, trader use to sell the goods and they use to send the good with help of agents. In this, it can be said that the better and effective technology challenge the competitors to sustain growth and generates profits on continual basis. In addition to this, during 20thcentury it has argued that insurance policy is helpful in order to cope up with business practices as international trade. In the 21stcentury, social media and technological advance has rule technological advancement and perform its business activities systematically. In this, one of the biggest advantage of insurance companies in Britain is to use social media so that they set the price for insurance. In this, it can be said that rapid growth of social media and personal technology access to analyse the customer and employees.

Research Aim-

To evaluate the impact of digital technology on output and efficiency level of an enterprise - A study on Admiral Insurance

Research Objectives

  • To understand the meaning and mechanism of technological advancement in Admiral Insurance
  • To analyse the impact of digitization on performance of Admiral Insurance
  • To determine the importance of technological advancement for growth of an enterprise
  • To recommend effective measures through which firm can improve its services to customers with the use of digital technology

P2. Project management plan covering cost, scope, time, quality, risk, resources and communication

Project management plan will be consisting of differed activities and by framing it there can be successful completion and closure of project. It is need to be collected in order to draw effective project management plan. In this way, there are differed activities which has been discussed in below context as are-

Time-This refer as terms which will be inclusive of actual time in order to produce the deliverable. With the help of framing each activity effectively, tasks can be done on time. It is directly related to amount of time that will be taken for accomplishing assigned tasks and it is the part of end results (Eling and Lehmann, 2018). In this, effective project work down structure will be useful in terms to construct the effective project management plan. In this. each task is needed to be given with proper deadline.

Cost- Under this, one particular estimation has to be taken which will be useful to complete the project. The cost is also inclusive of various things such as labour, resources, risk, etc. The effective cost structure will cover with all monetary components of resources. The enterprise need to have adequate financial resources so that whole project can be construed effectively. In this, cost will be inclusive of method as are data collection, analysing the primary as well secondary data. The cost structure will be helpful in terms to achieve the desire task of the report.

Resources- The project management plan will be inclusive of terms like time, finance and human resources. In this, it can be said that effective planning of resources will be done in terms to meet desired objectives of research. The firm must have effective amount of resources so that study can be carried out in the effectively mode. There are number of resources with the help of which desired results can be obtained.

Control over quality- It is the process in which all project activities are need to be design, plan and process to implement the project in effective and efficient mode. Thus, it is helpful to determine the purpose and value of the project. In this, it is essential to have effective control over the results so that desired results can be achieved. With the help of having effective control, the optimum results can be achieved. Moreover, with the help of implementation of technological advancement, the whole things can be done effectively. In this, quality management plan defines the acceptable level of quality which is typically determined by the customers and it is an effective process in order to determine the value and quality deliverable of the project (Gatteschi and et.al., 2018).

Risk management- In this project management plan, there are various kinds of activities in which risk has been associated. The all things can be done in proper and effective manner. It is need to be managed level so that no activity will get hampered. In addition to this, survey and proper investigation will be conducted effectively and efficiently (Goel, 2018).It is need to be constructed to foresee risk, estimates projects and define responses to issues. It is very helpful in order to determine the event or condition which is helpful to determine the event or condition. With the help of this, positive and negative effects can be easily determined. With the help of identifying risks, an enterprise needed to perform its role effectually.

Risk management- In this project management plan, there are various kinds of activities in which risk has been associated. The all things can be done in proper and effective manner. It is need to be managed level so that no activity will get hampered. In addition to this, survey and proper investigation will be conducted in effectively and efficiently mode.It is need to be constructed to foresee risk, estimates projects and define responses to issues (Khajeheian, Friedrichsen and Mödinger, 2018). It is very helpful in order to determine the event or condition which is helpful to determine the event or condition. With the help of it positive and negative effect can be easily determined. With the help of identifying the risk an enterprise need to perform its role in effective and efficient mode.

Communication- In this term, effective communication between the participants is need to be made so that the main aim of this research can be obtained effectively. With the help of effective communication, the whole of the information can be gathered systematically. This kind of things will be helpful in order to attend the particular aim of the study. By making the effective communication there can be no chances of omission. This will be effective process which is need to be dine by researcher so that things can be done effectively (Lehrer and et.al., 2018).

Scope of study- The present report is based on the activities of Admiral insurance. The main aim is to determining the impact of digitization so that quality and improved result can be taken (Li, 2018). In this, innovation is need to be taken so that firm will provide effective services to its customers. In addition to this, growth and innovation is one of the significant effective steps in order to process the activities in systematically mode.

P3. Project breakdown structure, Gantt chart and network diagram

Task Mode

Task Name

Duration

Start

Finish

Predecessors

Auto Scheduled

Technological impact on Admiral insurance

36 days

Thu 4/26/18

Thu 6/14/18

Auto Scheduled

Initial phase

8 days

Mon 4/30/18

Wed 5/9/18

Auto Scheduled

Setting goals and objectives

2 days

Wed 5/2/18

Thu 5/3/18

Auto Scheduled

Risk Associated

3 days

Mon 5/7/18

Wed 5/9/18

3

Auto Scheduled

Proper adequate amount of

4 days

Wed 5/9/18

Mon 5/14/18

3

Auto Scheduled

communication plan

2 days

Mon 5/14/18

Tue 5/15/18

3,4

Auto Scheduled

Development phase

10 days

Fri 5/18/18

Thu 5/31/18

Auto Scheduled

Operation plan

4 days

Mon 5/21/18

Thu 5/24/18

3,4

Auto Scheduled

Identification of laws

3 days

Tue 5/15/18

Thu 5/17/18

5

Auto Scheduled

Plan to mitigate risk

5 days

Wed 5/16/18

Tue 5/22/18

5,6

Auto Scheduled

Preparation of structure

3 days

Fri 5/25/18

Tue 5/29/18

8

Auto Scheduled

Properly implementing the procedure

6 days

Tue 5/29/18

Tue 6/5/18

Auto Scheduled

Requirement of capitals

4 days

Mon 6/4/18

Thu 6/7/18

8

Auto Scheduled

Technical expert person

5 days

Mon 6/11/18

Fri 6/15/18

9

Auto Scheduled

Services of social media

2 days

Mon 6/11/18

Tue 6/12/18

10,11

Auto Scheduled

Monitoring and controlling process

12 days

Mon 6/25/18

Tue 7/10/18

Auto Scheduled

Monitoring process

2 days

Mon 7/2/18

Tue 7/3/18

10,11,13

Auto Scheduled

Regular reporting

3 days

Tue 7/3/18

Thu 7/5/18

14

Auto Scheduled

Conferences

2 days

Mon 7/9/18

Tue 7/10/18

14,15

Auto Scheduled

Identification of risk

1 day

Tue 7/10/18

Tue 7/10/18

17,18

Auto Scheduled

Investigating process

1 day

Fri 7/13/18

Fri 7/13/18

18,19

Auto Scheduled

Modified strategy

2 days

Mon 7/16/18

Tue 7/17/18

20

Auto Scheduled

Finish of assignment

2 days

Fri 7/27/18

Mon 7/30/18

25

Auto Scheduled

Assignment closure

2 days

Mon 7/23/18

Tue 7/24/18

20,21

Auto Scheduled

sign with all laws and documents

1 day

Thu 7/26/18

Thu 7/26/18

22,24

P4 Explanation on qualitative and quantitative techniques to conduct the things in effective mode.

In this, research methodologies are one of effective terms which is helpful in order to conduct the activities of an enterprise effectively. There are number of research methodologies which is need to be discussed in terms to systematic plan of conducting the research. These are of various kinds as are approach, research philosophies, research design, data collection and analysis (Sharma, Y., 2018). Thus, this kind of approaches are helpful in terms to conduct the research activities in expertise mode. This can be defined in following manner as are-

Research philosophies- It is one effective approach with the help of which depth information can be gathered. In addition to this, there are various kinds of research philosophies as are Positivism, interpretative. In order to carry out the present research the researcher will have the use of combination of both kind of strategies as interpretative and positivism. In addition to this, the focus is need to be made on the aims and objectives which has been set. Thus, there are other kinds of philosophies as are realism, positivism, interpretative and pragmatism. The main aim of these philosophies is to put major focus over gathering the whole of information so that things can be done in proper and effective mode. Moreover, with the help of this, effective information about the Admiral insurance can be obtained. These philosophies are helpful in terms to assisting over the facts (Stoeckli, Dremel and Uebernickel, 2018). Under this term it can be said that research philosophies are very useful in order to representing the differed aspects.

Research approach- In this, it will encompass the plan and it is need to be carried out effectively in order to carrying out the aim and objective of study. Under this, there are many kinds of approaches as are inductive and deductive. Inductive approach can be termed out as ways to move from specific to general. This kind of theory is narrowed down to be more specific. It can be called as top down approach. In this way, it works as to move from specific observation to broad generalization (Urbinati and et.al., 2018.). In order to carry out the present research there will be use of inductive approach. With the help to make the specific observation the particular aim of the study can be obtained. Thus, with the use of determining the implication of technological advancement on Admiral Insurance the business activities of the firm can be analyzed in proper manner.

Research design- It is the term which is useful in terms to determine the particular plan of action and it is need to be adopted by the researcher in terms to logical and coherent integration from differed components of study. In this way, it can be said that there are various kinds of research design as are namely, exploratory, descriptive, explanatory etc. In this term it can be said, to carry out the present research there will be use of descriptive research design. It works as to puts its major focus on depicting the participants in particular manner. In addition to this, it can be said that this kind of things will be helpful in order to describe the characteristic of phenomenon being studied. Under the research study there are three ways with the help of which research will do it activities in order to carrying out the study in particular manner. It can be done with the help of things as are case study, survey and observation. It is very helpful design in order to have adoption of suitable method for carrying out the aim of study. With the help of this design, the research will have the use of things which will works as to attending the aim of the study.

Data collection- It is also helpful in terms to gathering of the information so that one particular aim of study can be obtained. Under this, there are two ways of collecting the data as are primary and secondary method. IN order to carry out the present research study there will be use of both kind of methods as are primary and secondary. In this term it can be said that primary method will be useful in order to collect the study in the first hand. This can be defined in following manner as are focus group, interviews and observation. The information which will be collected from primary method can be termed out as the primary data. In order to gain the depth information there will have the use of secondary method so that depth information can be gathered (Druehl, Carrillo and Hsuan, 2018). There are the various ways such as are books, organisation records, online articles and journal etc. will be useful in order to get the depth insights. In this, secondary data has been collected with sources as media and ONS data. This website are useful in terms to provide depth information. Thus, statistical data has gathered of recent years as 2017 and 2018.

Sampling- In this, there are two kinds of sampling as are probabilistic and non-probabilistic. In order to carry out the present research probabilistic sampling method is need to be used. Thus, probabilistic sampling method is need to be done with the help of used to provide equal chance to every member so that aim of the study can be obtained. In order to carry out the present research there will be use of simple random sampling method. With the use of it effective information can be gathered. With the help of the sampling technique method the whole information from participants can be collected effectively.

Data analysis- It is the term which will be inclusive of things as are cleaning, coding, transforming of the data so that with the help of it effective conclusion can be drawn. There are number of methods as are data analysis, namely, qualitative and quantitative. In this term, it can be said that qualitative technique will be useful in terms to provide the detailed insights about the particular study. It is systematic way to collect the depth information about the topic of the research. Thus, quantitative data will be done with the help of the use of statistical, tools and technique. In order to carry out the present research there will be use of qualitative data technique. In this data can be gather with the help of the thematic analysis. In this way, it can be said that the chosen technique will be helpful in order to recording and examining the aim of the particular study. In this way, on the basis of identified forms themes can be formed in better and effective describing manner.

Ethical issues- In this, ethical consideration is need to be carried out in order to take the prior permission from the participants by informing about the study. In this way, Non-compliance to the same will lead to ethical issues. Thus, researcher need to maintain the confidentiality of the information (Khajeheian, Friedrichsen and Mödinger, 2018). In this way, unauthorised access to data is need to be checked effectively. The researcher need to keep the all information in secured manner so that one particular aim of study can be gathered.

P5 Analyse research data using appropriate tools and techniques.

In this, at the time when information is gathered, it is essential to conduct the proper analysis of each thing so that particular information can be gathered analysis (Khajeheian, Friedrichsen and Mödinger, 2018). It can be done with the help of thematic analysis chart, tables and graph etc.

Theme 1: Most women respondent towards using of updated technology in enterprise.

1. Your gender

Frequency

%

Female

20

57.14%

Male

15

42.86%

Total

35

100.00%

Theme 2: Most of the respondents are having the age between 18 to 32 years.

2. Your age

Frequency

%

a. 18-32

10

28.57%

b. 33-45

12

34.29%

46-58

8

22.86%

d. 59+

5

14.29%

Total

35

100.00%

Theme 3: Most of the respondents are employed in order to evaluate the impact the digital technology.

3. Your job status

Frequency

%

Employed

13

37.14%

Self-employed

8

22.86%

Unemployed

5

14.29%

Student

5

14.29%

Retired

4

11.43%

Total

35

100.00%

Theme 4: Most of the respondents are married.

Married

20

57.14%

Unmarried

15

42.86%

Total

35

100.00%

Theme 5: Most of the respondents has family size above than 10+.

5. Your family size

Frequency

%

a. 1-3

13

37.14%

b. 4-6

12

34.29%

07/10/18

5

14.29%

d. 10+

5

14.29%

Total

35

100.00%

Theme 6: Most of the respondents are having car insurance policy.

6. Do you have car insurance policy?

Frequency

%

Yes

25

71.43%

No

10

28.57%

Total

35

100.00%

Theme 7: Most of the respondents are also having home insurance policy.

Do you have home insurance policy?

Frequency

%

Yes

27

77.14%

No

8

22.86%

Total

35

100.00%

Theme 8: Most of the respondents are having car insurance policy.

8. Do you have life insurance policy?

Frequency

%

Yes

30

85.71%

No

5

14.29%

Total

35

100.00%

Theme 9: Most of respondent will like to have insurance policy.

9. How do you like to receive insurance policy?

Frequency

%

Post

20

57.14%

Email

15

42.86%

Total

35

100.00%

Theme 10: Phone is the best mode of medium to connect with this insurance policy system.

10. Which way you prefer to get in touch with customer services?

Frequency

%

Phone

5

14.29%

Email

13

14.29%

Post

12

14.29%

Online chat

5

14.29%

Total

35

14.29%

Theme 11: Most of the respondents hear about insurance policies from Newspaper and TV.

11. Where did you hear about us?

Frequency

%

Newspaper

5

14.29%

TV

5

14.29%

Google

5

14.29%

Social media

10

28.57%

Other online channels

6

17.14%

Comparison website

4

11.43%

Total

35

100.00%

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Analyses and interpretation

Theme 1: Most women respondent towards using of updated technology in enterprise.

Interpretation- According to the Secondary data it has been analyzed that that Technology is changing the insurance industry and it is also creating opportunities. In this, with help of using updated technology entity can have opportunity to cover high range of customers. However, with the primary analysis from the above chart it can be concluded that there are most of the women respondents who said that digital technology brings longer term productivity and profitability to an enterprise. There are total respondents as are 35, out of which 20 are women and 15 are men. In order to have increment in the performance of business enterprise technological advancement pays one of the essential role. With the help of technological advancement enterprise is able to bring improvement in the performance so that long term productivity to the enterprise can be generated.

Theme 2: Most of the respondents are having the age between 18 to 32 years.


Interpretation- As per the secondary analysis it can be known that technology and technical innovation has determined the growth and evaluation of insurance sector. With help of analysing data, the value of legitimate customer interaction can enhanced and it has helped the insurance companies to have maximization in profits so that customer can be happy with working of an enterprise. With the help of this survey, it can be analysed that technological advancement has put major impact over the growth of an enterprise. In this way, there are total number of 35 respondents. Thus, out of which the age between 18-32. 10 respondents that technological advancement bring harsh impact over the growth of an enterprise, 12 respondents in the age between 33- 45 said that uses of digital technology bring large impact over the growth of an enterprise, 8 respondents in the age between 46 to 58 said that with the help of technological implementation there can be enrichment in the growth of an enterprise. Thus, 5 respondents of the age 59+ aid that with the use of technological advance the growth of an enterprise can be enriched.

Theme 3: Most of the respondents are employed in order to evaluate the impact the digital technology.

Interpretation- As per the secondary research findings it can be analyzed that enough accessibility and awareness about the media, mobile technology and internet. This are the things which is helpful in order to bring desired result to an enterprise. Policy holder are the firm who directs the policy holders in deciding and buying the Insurance policies. Based on the above chart it can be concluded that technological advancement is helpful in order to bring long term productivity to an enterprise. In this, there are total 35 respondents. Out of which 13 respondents are employed so that they idea about the impact of technological advancement on car insurance facilities, 8 are self-employed, 5 are unemployed 5 are student and 4 are retired than it can be said that technological advancement is very effective in terms to bring growth of an enterprise. In addition to this, it can be said that technological and technical innovation has determined the growth of business enterprise.

Theme 4: Most of the respondents are married.

Interpretation- According to the secondary analysis it can be analyzed that insurance policy is helpful to protect the family so that growth and development can be achieved. In this primary analyses it can be analyzed that chart it can be concluded that most of the respondents are married. With the help of this researcher can find out the way of using technological advancement to an enterprise. In this way, there are total 35 respondents. Under these 20 respondents are married and 15 are unmarried. Thus, it can be said that technological advancement is one of the effective method in order to bring long term productivity and profitability to an enterprise. In addition to this, it can be said that technological advancement brings long term impact to the growth of an enterprise.

Theme 5: Most of the respondents has family size above than 10+.

Interpretation- As per the secondary research it can be interpreted that Innovation can be generally regarded as positive development, delivering convenience and efficiency. The enterprise who are running their business activities and large number of member are want to have insurance policy so that brand image of an enterprise can be sustained. Based on the above chart it can be concluded that technical advancement brings long term impact to growth of an enterprise. Thus, there are total 35 respondents. In this. . In this 13 respondents said that they are family size in between 1-3 and 12 respondents are having 4-6, 7 are having 10 and 10 respondents are having the family size as 10+. In this, it can be said that technological advancement brings long term productivity to an enterprise. It is one of the crucial element for the growth of an enterprise.

Theme 6: Most of the respondents are having car insurance policy.

Interpretation- According to the secondary analysis performance appraisal technique will be helpful quality of service will be helpful to provide better and effective result to the enterprise. This will be useful to motivates the buyer so that customer can get attract towards firm. Based on the above chart it can be concluded that technological and technical innovation puts major impact over the growth of an enterprise. This is one of the effective term which brings long term productivity to an enterprise. In this, there are total number of 35 respondents. Thus, 25 said yes and 10 said no. In this way, it can be said that car insurance policy has great impact over the growth of an enterprise. This kind of technological innovation bring long term productivity to an enterprise. In this way, technical innovation brings long term growth to an enterprise.

Theme 7: Most of the respondents are also having home insurance policy.

Interpretation- As per secondary analysis it has been analyzed that building customer relationship will be helpful to direct the customer to have home insurance policy. Thus advertisement policy of insurance companies will be helpful in order to attract the customers. Based on the above chart it can be concluded that most of the respondent are having car insurance policy. Thus, there are total of 35 respondents. In this, it can be said that 27 respondents said yes to have home insurance policy and 8 said no to it. Thus, it can be said that the technological innovation plays greater roe in order to bring success to an enterprise. In this way, it can be said that technological innovation brings long terms productivity to an enterprise.

Theme 8: Most of the respondents are having car insurance policy.

Interpretation- With the secondary findings it can be analyzed that with help of having policy they are able to make better interaction with their client so that they can have timely information about things. Based on the above chart it can be concluded that car insurance policy is need to be taken so that technological advancement will bring long term growth to an enterprise. In this, there are total 35 respondents. Out of which, 30 said yes to it and 5 said yes to it. Thus, car insurance policy will bring flexibility in the working of an enterprise.

Theme 9: Most of respondent will like to have insurance policy.

Interpretation- From the secondary analysis it has been ascertained that there is continuous increment in GDP of the country so the per capital income has also enhanced. Thus, this effective rate of GDP has holds the brighter prospectus of insurance companies. Based on the above chart it can be concluded that Insurance policy is helpful in order to bring long term productivity to an enterprise. In this way, car insurance policy need to bring greater advantage so that all things can be processed effectively. Thus, there are total number of 35 respondents. In this, 20 said with the help of post information can be pass effectively and 15 said E-mail is the best way to pas the information from one place to here. In addition to this, it can be said that insurance policy has great impact over the growth of an enterprise.

In 2020, micro insurance policy can provide to individual personal owners and small business owners against the life insurance premiums. This will be one of effective source so that risk can be minimized effectively.

In 2022, Insurance companies can provide differed kind of schemes to expand insurance plan and policies so that growth of an enterprise can be developed.

Theme 10: Phone is the best mode of medium to connect with this insurance policy system.

Interpretation- According to secondary analysis it can be concluded that technology with the new technical advancement is key driver of change in financial sector which also let to immeasurable efficiency gains. Thus, phone is the best medium to make easily interaction with customers. This function led to have long term profitability and productivity. Based on the above chart it can be concluded that Phone is one of the best mode of medium to connect with the people. With the help of phone insurance policy can easily get connects with people who need to have phone facility. Thus, there are total 35 number of respondent, out of which 5 gets connects with phone, 13 with E mail facilities 12 with the post and 5 get to connect with online chat. In this, it can be said that Phone is the best mode of medium to connects with customer as with the help of this they can easily contact and can be informed about the uses of technological advancement.

Theme 11: Most of the respondents hear about insurance policies from Newspaper and TV.


Interpretation- According to secondary analysis it has been identified that Insurance is awareness and the agent are not performing their job effectively. Thus, Television and social media plays grater to ware customer about the needs of an enterprise. With primary analysis, it can be concluded that Newspaper and TV will be helpful in order to get the with people. This kind of technological advancement has great impact over the growth of an enterprise. In this, there are total number of 35 respondents. Out of this, 5 respondents said yes for news paper, 5 said yes for google, 5 said yes for TV, 10 are favor to the social media technology and 6 are relates to online channels and 4 are in favor to the comparison websites. Thus, this kind of technological advancement bring long term productivity to an enterprise.

P6 Appropriate recommendation as result of research and data analysis to draw meaningful conclusion.

In this, Digital technology brings lots of improvements in the areas as are monitoring system, telematics and high touch in terms to demand personalized and it will be helpful in order to ensure the things effectively. In addition to this, technological advancement and data analytical method will be helpful for insures to know them better. This kind of system will be helpful in terms to have greater monetization opportunities as it is helpful in terms to track the stolen vehicles or user can approach to potential breakdowns (Druehl, Carrillo and Hsuan, 2018). With the help of suing of technological advancement, product can be prices effectively and fraudulent claims are identified with the greater accuracy. Thus, it can be said that, digital records, social media and insurance company can able to provide real time customer service to its customers. Get Assignment help Melbourne at the lowest price.

In this, technological innovation, higher customer satisfaction and descriptive newcomers redefine the marketplace and to make this effective insurance remain focused on growing top sales, bottom line profitability and addressing the overall challenges. Thus, 2018 insurance industry is working as outlook the key opportunities and threats which work as to demand attention from the customers.

The digital technological advancement has delivered technologies which can deliver the dramatic improvement in business enterprise. In upcoming days, Admiral insurance company is taking initiative to insure the telematics devise, it is helpful to measure their driving safely. The firm is taking server step to including higher performance computing and modelling tool to the clouds which allows insurance firms update and streamline the operational activities. It improves the efficiency and saves money.

P7 Reflection on value gained for collecting the project and its usefulness to support sustainable organization performance.

For More Visit: Important role of Management in Hospitality Industry-Imperial Hotel

The present report is based on the factor which is helpful to evaluate the impact of digital technology. With help of this efficiency and output of an enterprise can be determined. I have gained the depth knowledge about the using of technological advancement in the insurer firms. Thus, I have identified that fraud is one of the major factor faced by insurance providers. The main role of insurance sector works as to build innovative platforms and solutions so that there can be expansion in opportunities in the fast evolving digital insurance landscape. I have noted that cloud enablement with the core and non-core application will be helpful in order to have reduction in the cost of insurance services of products and support this to process each activities of firm in systematic manner. I have researched that technology has wide impact on safety and security of customers. As per the research analysis I have found that phone is one of the best medium to inform customer about the insurance policy so that enterprise can able to gain competitive advantage. In this, it can be said that digital changes are impacting various aspects of insurance industry of the both insures and their customers. I have identified that social technology has vast impact to support sustainable organization performance. The latest trends, customer need and all other things can be identified with social media activities.

REFERENCES

  • Autio, E., Nambisan, S., Thomas, L.D. and Wright, M., 2018. Digital affordances, spatial affordances, and the genesis of entrepreneurial ecosystems.Strategic Entrepreneurship Journal. 12(1). pp.72-95.
  • Choi, S., 2018. Organizational knowledge and information technology: the key resources for improving customer service in call centers.Information Systems and e-Business Management. 16(1). pp.187-203.
  • Druehl, C., Carrillo, J. and Hsuan, J., 2018. Technological Innovations: Impacts on Supply Chains.Innovation and Supply Chain Management: Relationship, Collaboration and Strategies.
  • Eling, M. and Lehmann, M., 2018. The Impact of Digitalization on the Insurance Value Chain and the Insurability of Risks.The Geneva Papers on Risk and Insurance-Issues and Practice.
  • Gatteschi, V adn et.al., 2018. Blockchain and Smart Contracts for Insurance: Is the Technology Mature Enough?.Future Internet. 10(2). p.20.
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