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NTUC Income faced challenges with its outdated insurance processes and IT systems. The company's core insurance applications and accounting systems frequently broke down. The process of launching new products also took a long time. To remain competitive, NTUC Income modernized its business processes and adopted new information systems like the Java based eBao LifeSystem. This provided benefits like more efficient operations for employees and easier access to information. However, the transition was difficult and involved trials, errors, and wasted data from failures. Ultimately, adapting to new technology was essential for NTUC Income to meet changing customer demands and ensure its long-term success in the market.

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ChieMae Benson Quinto
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44 views3 pages

Reaction Paper

NTUC Income faced challenges with its outdated insurance processes and IT systems. The company's core insurance applications and accounting systems frequently broke down. The process of launching new products also took a long time. To remain competitive, NTUC Income modernized its business processes and adopted new information systems like the Java based eBao LifeSystem. This provided benefits like more efficient operations for employees and easier access to information. However, the transition was difficult and involved trials, errors, and wasted data from failures. Ultimately, adapting to new technology was essential for NTUC Income to meet changing customer demands and ensure its long-term success in the market.

Uploaded by

ChieMae Benson Quinto
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Archie Mae B.

Quinto BA202 (MCIS)

Modernization of NTUC Income

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It has not been easy for NTUC Income company in achieving their success
they have to undergo failures and problems for them to realize what the company
must already been doing and changing for them to be competitive enough. Some of
this are, income’s insurance processes very tedious and paper based,the collection
schedule could introduce delays of two or three days, investment to upgrade the
HP 3000 mainframe that hosted the core insurance application broke down – took
several months to restore the data loss if hardware crashes, in-house IT team –
Broke multiple times, halted the system’s and caused temporary interruption
,started with customers meeting an agent, filling in forms and submitting
documents, then submit forms to branches from couriers to the office service
department Office service would log documents, sort them, and then send them to
departments for underwriting, proposal allocated to underwriting staff then sent to
computer service department lastly redistributed, and for storage all the original
document packed and sent to warehouse, staff log and store the document. If they
are still dwelling in this kind of operation it will be hard for them to compete in
market. Hence adaptation is what they need, the embrace different information
system.

They’ve adopted different information system such as in 2002, upgrading


the HP 3000 mainframe that hosted the core insurance applications as well as the
accounting and management information systems but still frequently broke down.
HP 3000 only backup system allowed restoration of previous days backup data.
The COBOL programs were also developed in early 1980s and maintained by
Incomes in-house IT team. To be quite cumbersome and time taken to launch new
product ranged. Adopting of information system has been easy, it is a trial and
error that would help them what they really. In here part of their investment is
losing some.
NTUC Income is one of largest insurance company in Singapore given its
number of policy holder and its total assets. It is very ideal to have this kind of
operation in insurance industry however because of the growing and evolution of it
changes must be adopted most especially as to handling of their operations from
the very first step to the end process. Customer commonly wants a fast and easy
transaction, given the process company it could be concluded that it is time
consuming service and relating its impact to the changing demands of customers, it
can be loss opportunity. By this situation the company has to adopt the
modernization of the business process and that it to adopt the new business process
that includes the management of information system.

Information system is a new trend in a business processes however


companies must to it that it is not as what common people think. It is a complex
matter that undergoes a long process method to have accurate operations meaning
matches to needs of the company’s operation. Hence; in the case of NTUC Income
it has not been an easy process as they adopt the modernization demands. Trial and
errors are there, major failure as still incurred and wasted information and data are
there. However, company must not stop there if they will go back on the traditional
process aside from opportunity loss it could also mean business failure. If this
happens it could result negative major impact specifically to the life of their
thousands workforce.

If a company is competitive enough it has to invest millions of finances to be


strong enough on in the market. Meaning it has to compete what new era is asking
right now and most especially their market is asking. If there market is techy then
they must be techy also. Moreover, investment for modernization is not solely for
customers but also for the welfare of the employees. Given the situation of NTUC
Income adopting the Java based eBao LifeSystem from eBao Technology, it brings
a great good impact most especially to the employees. It gives lightness of their
work, the convenience of their operations and most especially the accessibility of
information. To have this kind of adaptation is not easy as what we always think
but if it already succeeded everything will just follow, a good income to state one.
All employees and workforce have different expertise hence given the
evolution of in different fields hence adaptation and flexibility is needed. The
growth of information system is essential adaptation nowadays as people, because
of changing demands; we must also realign our capabilities to address it. If we
stick to traditional and old ways, though it still needed today for backups for
instance, chances of leaving behind are possible. Reality check, it is hard for us
people of today’s generation without the aid of information system.

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