Impact of Information Technology on Operational Efficiency of LIC in Mysore District

Information technology (IT) is the application of any storage, pics, networking and other gadgets, base, and procedures to make, process, secure, store and exchange all forms of electronic data. Information technology also includes office automation, multimedia, and telecommunications. IT incorporates some layers of physical gear (equipment), virtualization and administration or mechanization devices, working frameworks and applications (programming) applied to perform key actions. Client implements, peripherals, and programming, for example, portable PCs, cell phones or even recording gear, can be incorporated into the IT area. IT can likewise allude to the models, methodologies, and regulations overseeing the utilization and capacity of information. IT has a considerable impact on the operation of organizations and companies. However, this survey tries to spot the light on the relationship of IT and insurance industry and the effect of IT on that. One of the complete definitions of insurance is: Insurance is the pooling of fortuitous losses by transfer of such risks to insurers, who agree to identify insured people for such losses, to provide other pecuniary benefits on the occurrence, or to render services connected with the risk . (Rejda 2008). In the new world, all company especially insurance company without IT and internet cannot livein marketing with the competitors. Also for people, it is essential to know about technology to have a better life. If we want to join or use any facilities of any things we should know at least something about IT. The age, education or any demographic classification are factors that influence on IT proficiency of people. The researcher assesses tow objectives in this paper which the first is to study the proficiency in LICs IT assets among perception of different age groups of the LIC respondents in Mysore district and second is to study the proficiency in LICs IT assets among perception of educational groups of LIC respondents in Mysore district. The limitation of this study is limited to Mysore district and we don’t know about another city respondents. Another limitation is the respondents are only 303 customers and 100 Employees of LIC and not more and the study is limited to selected life insurance corporation and, therefore, the findings cannot be generalized to whole insurance industries.

Keywords:

Information Technology , Brand Loyalty , Customer Service , Product Development , Insurance