Tuesday, November 17th
10:40 a.m. - 11:25 a.m.
Public vs. Private: Debating E-Business Strategies
-- Chip Lawson, IVANS, Inc.
-- Kevin Keegan,
Insweb Corporation
"Private Network Is Another Option for
Insurers"
Until the day when the Internet can guarantee a high level of
performance, security and reliability, insurers should conduct mission-critical
communications and transactions over a private network, said Chip Lawson, senior
product manager for Ivans Inc., a provider of insurance network services.
Lawson spoke at "Fulfilling the e-Commerce Promise," A.M. Best
Co.'s annual Insurance Information Management Conference.
Lawson presented a model in which insurers use three networks:
the public Internet for marketing and somes types of customer services, such as
allowing policyholders to submit and check the status of claims.
An industry extranet based on Internet protocol could be used
for business-to-business trading partners. Field data entry may continue to rely
on the type of networks in place today.
InsWeb Corp., the Internet-based insurance marketplace, has
seen phenomenal growth in the number of users comfortable using the public
Internet to submit personal information on online insurance applications. In the
first six months of this year, 1 million users spent an average 15 to 16 minutes
entering information on the site. In the following three months, the site
registered another 1 million user sessions, according to Kevin Keegan, president
of InsWeb's insurance services group.
InsWeb, however, has no data to document to what degree
insurers are closing sales on the leads generated through the site. Keegan said
one insurer is planning to start binding policies through the site, which will
increase its closing rate.