|Author:||Lo, Kam-muk Stephen|
|Title:||Changes in insurance company's structure : its past, present and future|
Hong Kong Polytechnic University -- Dissertations
|Department:||Department of Management|
|Pages:||v, 92 leaves : ill. ; 30 cm|
|Abstract:||As in line with other service industries Insurance is no exception in building up its structure which is more inclined to co-ordination than division of labour. However under the competitive circumstances, insurance companies, confronted with educated consumers group, have felt the need to strive for greater degree of co-ordination as their competitive edges. The research confirms this trend by finding that two of the functions (Underwriting and Marketing) have been merged in most of the companies operating in competitive environments. Looking into future we consider that the third function (Claims) will eventually be merged and expect that the advanced information technology system will make up the lost efficiency that would have been achieved by a functional structure. The innovative network system which has been implemented in manufacturing sectors may be next form of structure after multi-division structure in the evolution process. Though there is some instances in overseas market that the network is in stage of the formation we do not expect that it will occur in Hong Kong Market which is too small to keep alive every actors in the network by sufficient return on investment. However when the Mainland Market becomes free to access, given time the network system will be a real possibility. Contingent as the structure is, making a prediction on what is unpredictable is no more than an intelligent guess. However the architect of the firm should be conversant to the knowledge and principles of Organization Theory so as to be able to decide what is the best for his company in the ever changing environment.|
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