Recent developments in information technology and Web-enabled systems have made it easier for insurers and reinsurers to oversee global operations in a way that wouldnt have been possible even two years ago. They are reaping advantages from improvements in internal efficiencies in areas as diverse as underwriting, claims, data warehousing, policy administration, financial reporting, and human resources.

But the efficiencies go beyond these internal ones: IT officials with ACE INA, GE Employers Reinsurance Corp., and XL Capital Group agree the development of Web-enabled systems has created a more efficient business process and provided access to talent without geographic constraints. It also can offer a welcome side effect of better service to clients.

While the ultimate aim may be a paperless, end-to-end process from binding of business to payment of claims, it will take some time for the industry to reach that point. Globalization of IT systems currently is limited to specific back-room functions such as financial reporting, human resources, claims, and standardized software.