Actuaries in IT-Programming

Benjamin Franklin helped to establish in 1752, what it would be the first mutual insurance company. For many years, the United States government never considered necessary to incorporate a system that would compensate their citizens in case any injury, accident or loss happen to them. It wasn’t until 1735 the first underwrote fire insurance company was created; in Charleston, South Carolina. Underwrite insurance companies are the ones, that analyze all the risk of insuring a particular person or asset and uses that information to set a premium pricing for insurance policies. But it took 20 years to create the first mutual insurance company, one in which policyholders would come together to share the risk.

However, in 2016 a bigger company bought Cashe, and since than the software has expanded and added many more new features. For this assignment I interviewed Bill Thomalla, who is the director of technology. Bill brings over 20 years experience in operations and technology to Cashe. Since he worked for Cahse, he led and directed deployment of new technology and tools to improve operations in customer service, finance, HR, operations, and case management functions. As a result, those enhancements enabled business growth, improved customer care, boosted efficiency in operations, improved cash flow, and increased profitability. I asked Bill four questions, which were; where do you store your data? Is it stored in an in-house server or on the cloud?, what are some of the steps you take to implement a new software or when updating a software?, what are some challenges and risks that the company encounters when dealing with data?, and what preventive measures do the company take to avoid data

In the 60’s, the company introduced monthly payment plans that did not charge interest as well as drive-in claims service, uninsured motorist coverage, discounts to drivers between 30 and 60, and even became the first major insurer to offer a discount for non-smokers. Not only did Farmers offer the top-of-the-line insurance products to their policy holders, but they also

During the late 19th and early 20th centuries Science & Technology have grown-up a radical contribution to industry, and the personal computer has become a defining symbol of our age. In 1940, it was not recognized that Science & Technology would develop into an innovative way that would intensely affect business, trade, the monetary world, administration, discipline, education, communications, entertainment, and society as a whole. Today, information technology and its applications persist to go forward progressively. Computers and communication technology will become even more precious to civilization as they are ever more able to distinguish

I became interested in computers during the early 1990s and it happened right in my house. Within my community no one really knew what a "programmer" was or how to become one. At first, programmers were the engineers the circuits and processors. In April 1990, I volunteered to help my brother, a Computer Information Systems major at UTPA, to program the IBM-1401. I was 13-years old, had graduated from high school five years later, and decided to study the field of computers, specifically information technology (IT). In today’s high-tech world, virtually every business needs computer networking professionals to set up and maintain an in-office network (Irvine, 2011). This includes a variety of tasks such as engineering the network infrastructure, administering Windows systems and maintaining an email system (Irvine, 2011).

The demand for health insurance increased as medical technology further advanced and as government policies encouraged employers to use health coverage as a form of compensation for their employees. “The market for health insurance exploded in size in the 1940’s, growing from a total enrollment of 20,662,000 in 1940 to nearly 142,334,000 in 1950” (Health Insurance Institute, 1961).

The History Of Insurance In America notes that one of the biggest changes in insurance occurred when the creation of the Internet enabled people to seek out online insurance quotes. Technology marches on and the buzz these days is all about the expectation that driverless cars will be the next big changes revolutionizing the world and potentially making

1. Computing methodology and software systems, including the valuation of the different technologies used today: pro

Baye, M.R., Prince, J.T. (2014). Managerial Economics and Business Strategy. New York, NY: McGraw-Hill Irwin

Though I assume that all the insurance industry has gone paperless, one weakness that may still be prevalent is operating with paper transactions. Without paperless technology, selling policies, collecting payments and reminders may look old fashioned, not efficient and not be appealing to customers, both current and new. Lack of technology can also hamper the means to find new customers, and keep current ones from switching to another insurance

While it lessens the burden on organizations, reducing and shifting the cost and risk of its IT operation, security and management issues to an external service provider or vendor, outsourcing any portions of an organization's Information System has significant risks that can sometimes become detrimental to the outsourced organization. According to the Commission on Government Outsourcing, "when outsourcing an organization exposes itself to significant risks in terms of security, accuracy, and completeness of information (Holroyd City Council, 2008)". Comprised in the rest of this document is an

Accenture is a global management consulting, technology services and outsourcing company with over 129,000 employees in 48 countries with over $15.5 billion in net revenues in 2005. Accenture was formerly know as Arthur Anderson and started conducting business under the name Accenture on January 1, 2001. Accenture is a Bermuda holding company with subsidiary, Accenture SCA, a Luxemburg partnership limited by shares. The Comp SCA. Accenture operates its business through subsidiaries of Accenture SCA (www.bigcharts.com).

IT plays a role in servicing a large number of clients and reduce processing cost. At the same time IT can help in churning out statistics and information necessary to analyse the performance of current and potential business. As such, Sun Life need to look into the aspect of insurance systems and IT infrastructure in Malaysia.

d. Did the users have enough skills to operate the system? e. Where and how would the asset register be kept and updated? 1.6 JUSTIFICATION OF THE STUDY. The proposed study was recommended as it was of paramount importance to organizations which had accepted and undertook the information technology era into their businesses to have good and reliable ITAMS. The previous excel spreadsheets which were used in recording assets were highly prone to errors and presented a lot of paperwork, which required large storage space, and thus inappropriate and inefficient for the organization to achieve optimum performance.

A Report submitted to Prof. J.M. Shah for the partial fulfillment of the requirements for the subject Information Systems for Management under NMIMS University