Cigna Tech
Cigna is an insurance company in the United States that has faced its share of financial hard times due to the increased government regulatory environment and competition from its competitors. Although the company is the fourth largest insurer in the United States, it has faced its share of financial difficulties. In 2002 the company reported a $500 million dollar net loss for the year which resulted in a 40% drop in equity value. The company stock was not the only thing getting hammered that year, the company was also under pressure from doctors who were suing the company due to late reimbursements.
The problem facing Cigna was a threefold dilemma. First of all, was the above mentioned lawsuit by doctors who contended that Cigna was purposefully withholding and/or delaying payments for reimbursements and patient care. The doctors were not at all happy with Cigna (and other insurers) accusing the insurance companies of deliberate misconduct regarding the payment of claims.
Secondly, Cigna's sales personnel had made a number of promises to clients regarding the implementation of new technology that would vastly increase customer service and accessibility to data. The need for this...
While this approach has been implemented by most of the economic agents, British retailer Marks and Spencer argues that the economic crisis is no excuse for the business institutions to postpone their green initiatives. They as such invested £200 million in their own ethical campaign, and they now implement it, while in the same time, criticizing other companies for having renounced their initiatives in the wake of the economic crisis.
From a performance analysis perspective, costs of alternative support channels are first evaluated, followed by the key performance indicators (KPIs) typically used in financial services organizations to measure the performance of their online initiatives, most notably, websites. Following this discussion of performance analysis there is an analysis of resource availability and allocation of resources. Performance Analysis From a cost-per-incident analysis, the following table presents findings from Forrester Research specifically in measuring
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