Can anyone explain how new technology such as office computers might cut the cost of companies such as large insurance companies?????

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readerofbooks | College Teacher | (Level 2) Educator Emeritus

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Computers are an initial investment, but they can help in various ways. Let me list three ways that the use of technology can help. First, technology and computers can increase efficiency. If you digitize everything on a database, such as all your customer's information and history, then you will have access to everyone instantaneously. Therefore, if you have to look up anything, it is very fast. Second, if the computer is doing the work for you, then you will save money on hiring people. In short, let technology do the rote tasks that people used to do, such as calculations. In this way, you can have people do other things. Third, computers and technology can be used for communication. With the advent of chatting and video conferencing, you will be able to save time and money, because you will not have to travel as much.

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