Knowl­edge Man­age­ment In In­surance

Insurance - - FOCUS: -

As Malaysia goes for­ward to its 2020 ob­jec­tives of achiev­ing devel­oped na­tion sta­tus, it be­comes in­evitable that its econ­omy be­comes more es­tab­lished as a knowl­edge­based econ­omy. The government has taken

sig­nif­i­cant steps in es­tab­lish­ing knowl­edge plat­forms. How­ever, at the in­di­vid­ual com­pany sec­tor, there is still a great way to go in terms

of knowl­edge man­age­ment and knowl­edge shar­ing. Sig­nif­i­cant achieve­ment in knowl­edge

man­age­ment needs both sig­nif­i­cant in­vest­ment and sig­nif­i­cant shifts in cor­po­rate cul­tures. In this fo­cus sec­tion, we look at the tan­gi­ble ben­e­fits that can be at­tained through ef­fec­tive knowl­edge man­age­ment and then go

on to look­ing at the road­blocks.

One of the ma­jor im­ped­i­ments is the cor­po­rate cul­ture of in­di­vid­u­als hold­ing on to knowl­edge as a source of power within their or­gan­i­sa­tions. Oth­ers are good at trans­mit­ting re­ports that cer­tainly have knowl­edge in them but are not in a form that is eas­ily un­der­stood, so no real shar­ing of knowl­edge hap­pens. The in­surance in­dus­try is not im­mune to this. In fact

in the in­surance in­dus­try, the chal­lenges for im­ple­ment­ing ef­fec­tive knowl­edge sys­tems are even more pro­nounced than other in­dus­tries be­cause of the re­cent con­sol­i­da­tion amongst

in­sur­ers. We end this fo­cus seg­ment with a very in­ter­est­ing look at cor­po­rate sto­ry­telling, which imbeds emo­tion into the cold hard facts as a means of mo­ti­vat­ing staff to make the cul­tural changes needed for ef­fec­tive knowl­edge man­age­ment and shar­ing.

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