Standards for development and implementation of information system in the insurance industry of Kosovo

Abstract

Rapid innovations in information technology have made big impact in the insurance 
industry. The use of information technology for the insurance operations is 
strategic, in the sense that there is a direct impact on the productivity of resources, 
and a major impact on reducing the company's costs for its activities. 
Almost all modern business organizations are using and are becoming increasingly 
dependent on the application of information technologies. The information with 
complete and reliable data is necessary to participate in the tough competition that 
exist worldwide. As a result of this, competition is day by day increasing the 
demand for the Business Information Systems. 
To have a complete overview on the role and application of information technology 
in the insurance industry, in the paper we intend to present the importance of 
facilitating the IT application, of different operators and insurance companies.   
The paper provides a brief overview of the development of insurance in Kosovo in 
recent years, which is largely depended by the application of information 
technology, at every level of insurance activity in terms of production and in terms 
of management and planning. Information Technology, not only helps in the daily 
business of insurance companies but it has become an imperative to it.  
Authors made the research in various insurance companies and have analyzed 
accurate information on work done by operators in the field. 
The use of the online insurance system or of e-insurance, represents the fact that 
the IT revolution creates unprecedented basis for activities in financial growth all 
over the globe.