Insurance Management System Essay Assignment Help
Project Name: Insurance Management System (IMS) Project
1.0 Background & Business Problem Lizard Farms need a new insurance management system to support their daily operations. The company centers its business on auto insurance and home insurance. The company operates in all 50 states and requires a workable management system. The project will use Agile management tools and techniques based on Scrum as the process management framework. Scrum was selected to provide clear sets of values and principles in the agile method of managing the program.
The decision for implementing a new IMS application is due to the need of new features that are mainly used in the market and have a profound impact on the company sales, to broaden their market share.
2.0 Project Purpose Creation of an information management system where employees can track complaints and payments, customers, rewards and sales, and manage agencies. The database being implemented should allow employees to view account status in real time, engage with suppliers in real time, and generate weekly and monthly account reports. It should be accessible over the internet so that anyone from anywhere can check their account status, seamlessly integrating with all current business processes with ease of access.
The implementation of the new application will allow Lizard Farms to attract more customer and to better their position in the market.
3.0 Project Goals The success of this IMS project will be measured by the achievement of the following specific project objectives:
Using new and additional functions of Insurance management system, the manual work will be limited to around 10% and 90% of activities should take place automatically.
The deployment has to be completed by December 30, 2019.
Increase of sales and customer satisfaction after successful deployment.
4.0 Project Scope In order to achieve the project objectives mentioned above, the Insurance management system must cover the following areas::
User is able to register complaints
User is able to track complaint
Payments can be requested
Premiums can be tracked
Company Sales tracking ability
Record customer information
Billing for customer/agencies
English language support
5.0 Stakeholders The stakeholders of the projects are shown below:
6.0 Constraints, Assumptions and Risks Risks:
Less familiarity of project team with the new approach
Delay in budget getting approved
Issue of resource availability
Risks relating to newly introduced tools and methods.
Change conflict by end users
Deviation of data due to large amounts of information
The need for critical experts in auto and home insurance
Ability to secure personal data (PII)
The following assumptions are made while evaluating the project..
Access to all platforms (MAC, PC)
Access via mobile devices (iOS, Android)
Secure from cyber-intruders
Team must send regular updates to PM so that they can be developed on track / off track / as a milestone for goal development
The project must be completed on time and on budget ($ 100,000), as specified in the approved project table.
The schedule for this project is 4 months
The quality of the services to be provided must meet the requirements of Chubb’s standard operating instructions.