An Analysis of E-Insurance Practices in Pakistan: Current Status and Future Strategies: The Case of a State Owned Pakistani Company

Muhammad Shaukat Malik, Ali Malik, Muhammad Zahir Faridi

Abstract


The use of Information Technology (IT) by business firms has increased tremendously, so is case with insurance
industry. In an IT based economy the need for E-Insurance has become imperative to meet the current challenges
of the 21st century. The Insurance companies in the world are using IT to increase their productivity/income and
customer base by using latest IT systems. The Pakistan’s insurance companies are not lacking behind and using
latest IT systems for performance improvements. E-Insurance in Pakistan is growing rapidly. There are changes
taking place in the IT landscape of Pakistan’s insurance industry. The purpose of this paper is to know about the
IT usage in the insurance industry and where Pakistan stands in terms of IT adoption at its major institutes like
the State Life Insurance Corporation of Pakistan.
The results of this study showed that IT is being utilized aggressively in insurance sector. The State Life
Insurance Corporation of Pakistan is also increasingly utilizing Information Technology (IT) since long but its
efforts are not properly aligned with its current need and at par with the world. The company is working with
old/outdated IT systems products and needs to revolutionize its IT usage to have Web based internet integrated
systems. There is a dire need that the company must implement an ERP system to become more competitive.

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International Journal of Business and Management   ISSN 1833-3850 (Print)   ISSN 1833-8119 (Online)

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