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Abstract
XML is impacting the life insurance industry in a big
way. A large number of life insurance companies has
taken hold at all major life insurance companies. Most
companies are in the process of exploring XML usage
and the need for a standard vocabulary in order to facilitate
communication. The widespread adoption and success of
XML in the industry is due to comes from the proliferation
of several different versions of XML that are being
created by the vendors, institutions, and other organisations.
For the organisations that are looking at XML, the key
is to understand the way how the technology works, and
the specific business benefits that it can bring. From
there, a life insurer can begin to investigate the technology
components it will need in order to implement and support
XML within its own operations. This paper takes a close
look at how can the life insurance organisations benefit
from the use of XML in their technology initiatives
for sustenance and to gain competitive advantage in
a changing marketplace.
Authors
Umesh Kumar Rai,
Business Analyst,
Insurance Practice
To know more about Wipro in insurance, go to www.wipro.com/insurance
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