Oswestry Mutual Insurance Essay Example | Topics and Well Written Essays - 3500 words - 1

Oswestry Mutual Insurance - Essay Exampleare thought to be in a higher place industry average cost per policy. The result has been Omi financial solvency, but only barely. In 1991, the company decision-making parade was highly centralized. The growth experienced by OMI in the mid to late 1980s and the need to move around more responsive to the dynamics of the industry, top management decided to change the operating structure. In 1991, they reorganise into 6 sectional-regional profit centers. The branch offices remained at 68, each branch office reports to a specific sectional profit centre and sectional office. The sectional office is responsible for approving all policies written and deals filed done both branch offices and the independent agents located in that region. The head offices is suppose to puddle overall corporate policy and provide support to 6 sectional offices. The head office in Oswestry and the sectional offices were organized on a functional basis. The funct ional units in all locations are indemnity Audit, Underwriting, Sales, Claims/Losses, Finance, Human Resources, Loss Monitoring and Support. However, even though the operational structure was decentralized, most of the information function still remain centralized in the head office, which includes related planning, control, budget authority and decision- making corset at the head office. Computers were used, at first, for financial and statistical report production standard MIS reports included, profit/loss, operations, claim data, loss ratios, and