Insurance News: Fire losses account for half of non-life insurance claims in FY12

Fire losses accounted for over half of the claims lodged with general insurance companies in 2011-12. According to Insurance  Regulatory and Development Authority (IRDA) data, compiled by insurance broking house India Insure, engineering-related  issues such as machine failure constituted another 16.8 per cent of the claims and marine claims accounted for 14.1 per cent. Read more

The safeguards against business process re-engineering processes considering its success & failure factors

1. Business process reengineering:

There a number of definitions of business process reengineering (BPR). Klein and Manganelli in their book “The Reengineering Handbook” defines it as the “Rapid and radical redesign of strategic, value added business processes-and the systems, policies and organizational structures that support them-to optimize work flows and productivity within an organization”.

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