Being one of the economic sectors insurance industry requires strategic solutions both for the improvement of the effectiveness of daily business processes and for the cost-saving of such activity. Insurance companies need flexible efficient systems for information processing as they work with a great number of clients, deal with accountable documents including the ones for governmental entities, go regularly through check-outs. Thus, shared information space is a necessity and that is where an Enterprise Resource Planning (ERP) system is likely to help one’s business start thriving. The integration of a specialized application into one’s routine workflow will greatly transform the working processes of the existing departments uniting them and creating an integrated business space.
As a rule insurance companies represent a complicated form of business when there is an administrative centre and numerous departments. Considering the tendency of growing interest in insurance among both juridical and physical entities it is crucial to provide clients with services of high quality – doing work quickly and efficiently. ERP solutions are destined to automate insurance contract accounting, calculation of insurance payments, preparation of insurance documentary and other necessary procedures.