Why are disaster recovery plans critical for insurance companies, and what are some key strategies involved?

They maintain business operations through cloud backups, backup systems, BC

Which of the following best reflects current trends in insurance industry technology according to Deloitte?

C) Integrated systems, AI/ML, and CRM tool are adopted to be more efficient

Which of the following correctly matches an insurance technology provider with its core function or market role?

A) Duck Creek Technologies – Provides cloud-based core insurance systems

Which of the following best captures both a current challenge and a future trend in insurance technology?

Cybersecurity breaches and emergence of blockchain for secure transactions

Why has the insurance industry's reliance on information systems significantly increased in recent years?

C) Due to rising competition and growing customer expectations

Which of the following correctly matches a type of insurance system with its function and benefit?

C) Policy Administration System – Manages policy lifecycle

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MIS Presi

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Answers

1
Why are disaster recovery plans critical for insurance companies, and what are some key strategies involved?
B) They ensure faster policy renewals using handwritten records
They maintain business operations through cloud backups, backup systems, BC
A) They are optional policies focused solely on marketing and branding
They replace the need for customer service and automate claims processing
2
Which of the following best reflects current trends in insurance industry technology according to Deloitte?
C) Integrated systems, AI/ML, and CRM tool are adopted to be more efficient
B) AI and machine learning are mainly used for customer entertainment
A) Most insurers avoid integrated systems due to high costs
D) Manual underwriting remains the most cost-effective approach in industry
3
Which of the following correctly matches an insurance technology provider with its core function or market role?
C) Salesforce – Manages policy administration and claims processing
A) Duck Creek Technologies – Provides cloud-based core insurance systems
B) Majesco – Specializes in fraud detection and AI for large insurers
D) AWS – Focuses on CRM and customer engagement for insurers
4
Which of the following best captures both a current challenge and a future trend in insurance technology?
Cybersecurity breaches and emergence of blockchain for secure transactions
A) Outdated billing methods and increased reliance on fax communication
C) Lack of internet access and the decline of telematics in underwriting
D) Manual claim processing and reduced use of AI in risk assessment
5
Why has the insurance industry's reliance on information systems significantly increased in recent years?
A) To eliminate the need for customer service representatives
D) Because manual paperwork is more cost-effective
B) To comply with international travel regulations
C) Due to rising competition and growing customer expectations
6
Which of the following correctly matches a type of insurance system with its function and benefit?
D) Policy Administration System – Processes claims
B) Customer Relationship Management – Manages underwriting
C) Policy Administration System – Manages policy lifecycle
A) Claims Management System - Handles customer emails

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