claims online. This solution has a significant  impact on different stakeholders in the organisation. The business problem that LFI is currently  facing is that the claims process is too slow. LFI project manager seeks to implement a strategy that  reduces claims processing time and costs. The Chief Executive Officer has agreed to sponsor the  project. This process can have a significant impact on various stakeholders. The LFI must investigate  stakeholders' views and perspectives before implementing the new system

Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
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Lester Field Insurance (LFI) offers insurance products covering individual and organisational assets. 
LFI allows individuals and organisations to transfer the risk or chance of loss to the insurance 
company. For example, LFI accepts the risk or probability of loss through a written contract and 
agrees to pay out a certain amount of money to restore your valuables. The type of insurance 
offered includes property insurance, car insurance, travel insurance, household insurance and 
income protection plan. The company is rated to have one of the lowest rates of fraud claims in the 
industry. 
Due to COVID-19, staff had to go on a rotational basis to accommodate social distancing. LFI IT team 
designed a website that assists customers to log their claims online. This solution has a significant 
impact on different stakeholders in the organisation. The business problem that LFI is currently 
facing is that the claims process is too slow. LFI project manager seeks to implement a strategy that 
reduces claims processing time and costs. The Chief Executive Officer has agreed to sponsor the 
project. This process can have a significant impact on various stakeholders. The LFI must investigate 
stakeholders' views and perspectives before implementing the new system.

1.

 

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