Describe about the Organizational Knowledge, Creativity and Innovation.
The research is done in preparing a knowledge based management project undertaken by the company Liberty Insurance Pte Ltd. This project is completely based upon a real life knowledge management tasks. This report consist information about some of the problems that company has faced during the implementation of the whole process. In this report, the implementation of a paperless work in the liberty insurance is also included in the successful completion of the knowledge base management project (Koenig, 2012). The implementation of the process consists of various factors like analysing the tasks, selecting particular work plans, evaluation of the complete project, resources required during the time of implementation, topology used for the successful implementation, project control and the quality of assurance being delivered to the customers.
Liberty Insurance is completely a Singapore based company, having its headquarters in Boston. Depending upon the direct written premium, the liberty insurance is one of the largest casualty and property insurer in the U.S. The Company has undertaken the project of knowledge management, according to which, all the information related to the company is created, shared and used or in other words we can say that, it is the process of managing and processing the complete information of the company (Frost, 2015). With the help of the knowledge management, the liberty insurance can easily capture the large amount of data and can easily distribute the complete data to the people those who wants that data. Therefore, we can say the company can easily manage the whole data of the company and the customers in an effective manner. This project helps the company in completely focusing and implementing the knowledge management and the paperless working environment in the company. Knowledge management gives various methods of implementing the various processes through the help of an IT system (Liberty Insurance Pte Ltd , 2016).
This phase of the report tells about the various internal and external factors affecting the implementation of the project in the company. The Liberty group is carrying out its business across the five continents across the globe and approximately it has eight hundred offices across the world, which consists of approximately fifty thousand employees working for the company. According to the year 2015, the company’s annual consolidated revenue was approximately 38 billion US$. The company is providing its insurance services which consist of insurance related to the vehicles, medical insurance, insurance related to the travelling facility and leisure, accidental insurance, etc. with the help of the knowledge management, the company can make an efficient use of the intranet and the internet services. With the help of intranet and the internet facilities the company can easily transfer any type of information or data from one place to the other in a small instance of time, i.e., the company can easily transmit the data within the company as well as to the other companies or the people outside the company as per according to their requirement. The complete process of knowledge management consists of various steps which are as discussed below.
In this phase of data or the knowledge management process the process of collection of data and the codification of data takes place. The data is collected from the various internal and the external resources and then that data is managed and stored with the help of the database of the company. It helps in fetching more and more information, which helps in the manipulation of the whole data. This manipulation is helpful in making connections with new people across the country or outside the country across the globe. This process helps the liberty insurance in getting a rapid and a fast ROI by automating all the system integrated processes. With the help of the automated system, the possible benefits can easily be extended by making the pending processes completely automated. This process helps in making the company a completely paperless organization and in terms of the operations it would be agile and lean. All this automated system helps the management of the company in finding the current and the most important requirements of the company for fulfilling the demands of the people in the market. The technology that still requires the automation processes are like solutions related to the digital signature, filling up the details of the online survey, tracking the claim process, tracking the current status of the claim funds, etc.
The Liberty Insurance Pte Ltd. Is still facing some of the problems regarding to the settlement of the claims, regarding to the process of issuing the funds of the claims and some of the problems related to the policies due to the paperwork, which is still going on in the company on a small basis. Thus, the knowledge management helps in re-engineering the whole process by making the whole system and the various processes automated. With the help of this, the company can easily attain its target and can also settle the variety of queries of the people in a specific period of time. The company can easily maintain its data confidentially without wasting much time and can achieve 100% customer satisfaction by working in an efficient and effective manner (Santana, 2016). The company introduces a new service named as paymaster, which is responsible for the protection against the income following the permanent loss of license due to accidental loss. It also provides the facility of accessing the various alerts related to third party claims and many other security alerts across the worldwide. It also provides the facility of bail bond accessing, while covering the people on the worldwide basis.
The complete process and the implementation of the knowledge management consists of various steps, or in other words, we can say that, it consists of different stages, which completely describes about the various constitutes of Knowledge management. All these different stages are according to as discussed below.
Information Technology – this the first or we can say is the initial stage of the knowledge management. With the help of the information technology, the company can easily share any type of information with anybody across their organization by making the use of new capabilities, in an effective and efficient way (Kondo, 2006). The effective use of information technologies, provide the company various tools for the management of the data of the company in a confidential form.
HR and Corporate Culture – this is the second step or the phase of the knowledge management process. The use of the second phase is done when deploying the technology is not sufficient for the successful implementation of the whole process. This step helps in making the several important changes required in the corporate culture of the company. The changes in the corporate culture are very necessary for facilitating and encouraging the sharing of the information and the data.
Taxonomy and Content Management – this is the third stage of the knowledge management process (Dataware Technologies, 1998). This step is generated from the importance of the content as well as from the awareness of the content, which shows the importance of the retrieving process of the data from the various locations by making use of several resources.
The process of implementation of the undertaken project is very important for the liberty insurance, because this project is responsible for the overall success of the company. The implementation of the strategy differs from project to project. Knowledge management helps in achieving a paperless environment in the company, which helps the management in accomplishing its each and every task in a short period of time. The process of changing the work environment of the company, i.e., changing the paperwork of the company completely into a paperless working environment is a long process and it also includes several tasks. As we know, the liberty insurance is a very big company, therefore the big bang theory may fail during its implementation in this company. The working environment of the company can easily be changed by adopting the method or by using the tactical approach in which, the several changes can be made depending upon the different departments and the sectors of the company (Cambridge Mobile Telematics, 2016). Before the implementation of this topology, planning is the most important step in the implementation of the complete process. By making the use of appropriate plans, the company can make required changes easily and can achieve the significant output level of implementation of the knowledge management process in the liberty insurance.
The project implementation in the liberty insurance includes various factors, which are very important and are as discussed below.
Adequate arrangements – in this step, the surety is seen regarding to various important resources required for the successful implementation of the project.
Hardware specifications – in this step, the computers and printers must be installed within the organization, having a suitable data storage facility. All this helps in storing and managing the data of the company as well as its customers. All these systems will help each and every department of the company by making them connected to each other.
Software specification – on this step, the company mainly focuses on the type of software required to be installed on their systems, so that they can perform each and every step in an appropriate manner. This successful implementation of the software in the systems of the company will automatically decreases the complete paperwork of the company that is still going on in the company and thus, changes the complete working environment.
Cost – it will help in assessing the overall investments being made by the company. The management can easily monitor the actual costs incurred against the various budgeted costs (Stahl, 2016).
Quality – the company can check the various quality factors by making a separate quality check team. It is the responsibility of this team to check whether the actual quality is being delivered by the company or not to the customers across the world.
Time – time limits are very necessary for the successful implementation of any type of project. If a project is implemented in the organization within its time limits, then only we can say that the project has been successfully implemented (Everis, 2009).
Conclusion
According to the information discussed above, the various important steps have been presented regarding to the important stages of the knowledge management implementation. This process also helps the company in selecting and defining many other important aspects like software and hardware selection, selection of the vendor, factors related to the selection and training, etc., all these factors are responsible for the successful implementation of the project in the company. The Liberty insurance has discovered various advantages related to the project and provides various unique facts about the work, processes and the procedures of the company. The knowledge management project helps the company by increasing the goodwill of the company among the people. It has provided the way to keep the business of the company lean and mean by making an effective use of the technology. All these factors have increased the work efficiency of each and every employee of the company and helps in the reducing the costs invested for the management of the documents. With the efficient use of the knowledge management the reliability of the customers has been increased and its helps in finding any type of information of any of the clients. The clients can easily assess any type of information regarding their claims, funds, policies, etc. from any part of the world.
References
Cambridge Mobile Telematics, 2016. Liberty Insurance Partners With Cambridge Mobile Telematics to Bring Safe Driving Contest App to Singapore.
Dataware Technologies, I., 1998. Seven Steps to Implementing Knowledge Management in Your Organization, Available at: https://www.systems-thinking.org/kmgmt/km7steps.pdf
Everis, 2009. Risk Management in the Insurance Business Sector: MFC Artes Gráficas, Available at: https://www.everis.com/global/WCRepositoryFiles/Study%20of%20Risk%20Management%20-%20sept%2009.pdf?bcsi_scan_f5761508bdf24bd5=0&bcsi_scan_filename=Study%20of%20Risk%20Management%20-%20sept%2009.pdf
Frost, A., 2015. Introducing Knowledge Management, Available at: https://www.knowledge-management-tools.net/
Koenig, M., 2012. What is KM? Knowledge Management Explained, Available at: https://www.kmworld.com/Articles/Editorial/What-Is-…/What-is-KM-Knowledge-Management-Explained-82405.aspx
Kondo, F., 2006. Five steps to a successful knowledge management initiative, Available at: https://www.itworld.com/article/2807348/enterprise-software/five-steps-to-a-successful-knowledge-management-initiative.html
Liberty Insurance Pte Ltd , 2016. Liberty Insurance official website. [Online]
Available at: https://www.libertyinsurance.com.sg/
Santana, D., 2016. Liberty Insurance Rolls Out Telematics in Singapore, Available at: https://www.insurancenetworking.com/news/innovation/liberty-insurance-rolls-out-telematics-in-singapore-37622-1.html
Stahl, J., 2016. Liberty Insurance Launches Telematics in Singapore, Available at: https://www.telematicstalk.com/liberty-insurance-launches-telematics-singapore/
Essay Writing Service Features
Our Experience
No matter how complex your assignment is, we can find the right professional for your specific task. Contact Essay is an essay writing company that hires only the smartest minds to help you with your projects. Our expertise allows us to provide students with high-quality academic writing, editing & proofreading services.
Free Features
Free revision policy
$10Free bibliography & reference
$8Free title page
$8Free formatting
$8How Our Essay Writing Service Works
First, you will need to complete an order form. It's not difficult but, in case there is anything you find not to be clear, you may always call us so that we can guide you through it. On the order form, you will need to include some basic information concerning your order: subject, topic, number of pages, etc. We also encourage our clients to upload any relevant information or sources that will help.
Complete the order form
Once we have all the information and instructions that we need, we select the most suitable writer for your assignment. While everything seems to be clear, the writer, who has complete knowledge of the subject, may need clarification from you. It is at that point that you would receive a call or email from us.
Writer’s assignment
As soon as the writer has finished, it will be delivered both to the website and to your email address so that you will not miss it. If your deadline is close at hand, we will place a call to you to make sure that you receive the paper on time.
Completing the order and download