BPT Insurance

by | Jun 29, 2021 | Assignment Help

BPT Insurance has been in business for several years. The company has, in the past, sold life, home, and auto insurance. Their clients are middle-class professionals in the state of Ohio. The company recently decided to add a new insurance line for motor and sail boats. Assume the following:

The insurance company headquarters is in Cleveland, Ohio. They define the product, market the insurance, have underwriters to approve policies, and IT applications to manage monthly billings and other financial tasks. The company has an investment department that invests the income from policies to earn income that is then used to pay for damage or replacements when necessary. The company depends on local, “independent” agents to sell the insurance, and they subsequently meet with customers and document any claims that are made.  The agents operate out of their homes and link to the company headquarters via a company website (portal). The agents all report to a sales and support manager who is located in Cleveland. Figure 1 provides a high-level organization diagram of BPT Insurance of Ohio. Boat Insurance Policy Planning functions as new product development. Underwriting is a core operational activity but is kept separate as a control on the over-enthusiastic acceptance of new policies. Understanding the Project

The second thing the process design team focused on was the development of a stakeholder diagram that would define the major stakeholders in the Provide & Sell Boat Insurance process. Imagine a series of interviews with managers and prospective customers. At some point, the process design team would branch out and consider the interests of employees and field agents and groups like the Investment Department and IT support, and the Government Agencies that regulate Insurance in Ohio. In each case, the team would make notes on how the various stakeholders will likely interact with the new insurance process. Question 2Prepare Stakeholder Diagram for the “Provide and Sell Boat Insurance” process.

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