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. Conduct a SWOT Analysis for the business problem identified?
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