Supply Chain Management in the Insurance Industry

3029 Words Aug 14th, 2013 13 Pages
Supply Chain Management of a Service Organization (Insurance Company) – By Roshan Collas

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Assignment 01

You have been recently appointed as the supply chain consultant to a company (Choose a local organization that you work with or one which you are familiar with. The organization may be any type of company offering a product or service being sold locally or internationally). Your task in this assignment is to investigate the company’s supply chain/network with a view to assessing whether it is as up-to-date as it could be according to the latest views on supply chain management. Essentially it includes the following:
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Our vision is to be the trusted insurer to the nation. We operate in both line of Life and General Insurance categories and has achieved the net profit before tax over Rs. 7 billion in 2011 with the growth over 20%.The company has a history over 50 years in its industry and have undergone very heavy structural changes in time to time. The company has incorporated as a Government Corporation and after 30 years, the organization was converted to operate under public companies act as a government owned public company. The company was privatized after 42 years of its incorporation and managed by a single owner for over 5 years with heavy changers to business model. As per our current state, we are backed to the hands of the state and operates under the finance ministry of Sri Lanka.

The company is under increase demand to compete in its industry which is highly competitive and ‘Motor Insurance’ is the most challenged business category. As there is no tariff control is established by the regulators of the industry, the competitors are proved with higher flexibility to be competitive in all areas including its pricing. In this context we will confine our scope to the process of supply chain management of Motor claims.

According to the finding of ‘Aite Group’, a research company (Source:
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