Design and Application of a Service Outsourcing Cloud for the Insurance Industry

With the development and maturity of cloud computing technology, many cloud-based solutions for specific industry applications are also rapidly emerging. This study designed and implemented a Service Outsourcing Cloud for the Insurance Industry (SOC-II) for China's huge market demand, especially for Business Process Outsourcing (BPO) companies serving the insurance industry. Firstly, this research presents the cloud computing ecosystem, conducts SOC-II needs analysis, and then proposes the system architecture and logical architecture of SOC-II. Secondly, this paper introduces an image processing case in a SOC-II production operation system, and gives the operating mode and management mode of SOC-II. Thirdly, we summarize the main features of SOC-II and the new changes that SOC-II brings to the insurance industry. Finally, the article discusses the challenges of cloud computing

New Trends in Development of Services in the Modern Economy

The services sector strategic development unites a multitude of economic and managerial aspects and is one of the most important problems of economic management. Many researches devoted to this industry study are available. Most of them are performed in the traditional aspect of the voluminous calendar approach to strategic management, characteristic of the national scientific school. Such an approach seems archaic, forming false strategic benchmarks. The services sector is of special scientific interest in this context due to the fact that the social production structure to the services development model attraction in many countries suggests transition to postindustrial economy type where the services sector is a system-supporting sector of the economy. Actively influencing the economy, the services sector in the developed countries dominates in the GDP formation, primary capital accumulation, labor, households final consumption and, finally, citizens comfort of living. However, a clear understanding of the services sector as a hyper-sector permeating all spheres of human activity has not yet been fully developed, although interest in this issue continues to grow among many authors. Target of strategic management of the industry development setting requires substantive content and the services sector target value assessment

E-finance-lab at the House of Finance : about us

The financial services industry is believed to be on the verge of a dramatic [r]evolution. A substantial redesign of its value chains aimed at reducing costs, providing more efficient and flexible services and enabling new products and revenue streams is imminent. But there seems to be no clear migration path nor goal which can cast light on the question where the finance industry and its various players will be and should be in a decade from now. The mission of the E-Finance Lab is the development and application of research methodologies in the financial industry that promote and assess how business strategies and structures are shared and supported by strategies and structures of information systems. Important challenges include the design of smart production infrastructures, the development and evaluation of advantageous sourcing strategies and smart selling concepts to enable new revenue streams for financial service providers in the future. Overall, our goal is to contribute methods and views to the realignment of the E-Finance value chain. ..

Conflict Resolution in a Multi-level IT-enabled Outsourcing Network: A Structured Solution Approach

Using the case study of an Indian Technology and Outsourcing Service Provider, SmartKey (real but renamed company), a technology vendor to a global healthcare provider, this paper analyses offshore outsourcing issues using IT-enabled services to gain deeper insights needed to understand the core conflict and propose a well-reasoned solution approach. Reasoning, the conscious thought process leading to a well-justified decision, is an important managerial skill required for making dynamic decisions, resolving conflicts, and thereby developing human resources. This paper explores Goldratt’s Evaporating Clouds (ECs) as a systematic approach to reasoning in particular, and as a system for developing human resource in general. We show how Evaporating Clouds provided direction towards an acceptable solution to this case. We suggest that ECs can be used proactively as a springboard to ensure win/win solutions in various possible future interactions between the supply chain network partners. We conclude our paper by acknowledging the limitations of current research and provide future research directions

Effective Strategies for Managing the Outsourcing of Information Technology

More than half of information technology (IT) outsourced projects fail, primarily due to a lack of effective management practices surrounding the outsourcing end-to-end process. Ineffective management of the IT outsourcing (ITO) process affects organizations in the form of higher than expected project costs, including greater vendor switching or reintegration costs, poor quality, and loss of profits. These effects indicate that some business leaders lack the strategies to effectively manage the ITO process. The purpose of this single-case study was to apply the transaction cost economics (TCE) theory to explore strategies 5 business professionals use to manage an ITO project in a financial services organization located in the Midwestern region of the United States. Participant selection was purposeful and was based on the integral role the participants play on the ITO project. Data collection occurred via face-to-face semistructured interviews with the participants and the review of company documents. Data were analyzed using inductive coding of phrases, word frequency searches, and theme interpretation. Three themes emerged: vendor governance and oversight, collaborative strategic partnership, and risk management strategies enabled effective management of ITO. Identifying and executing appropriate outsourcing strategies may contribute to social change by improving outsourcing infrastructure, which might support job creation; increasing standards of living, especially within emerging markets; and heightening awareness of different cultures, norms, and languages among people living in different regions around the world to establish commonalities and gain alignment with business practices