insurance value chain

The insurance value chain is the sequence of activities an insurer and its partners perform to design, sell, underwrite, administer, service, and pay claims under an insurance policy. This generally involves product development, pricing, distribution, underwriting, policy issuance, billing, customer service, claims handling, and supporting functions such as reinsurance, technology, compliance, and data management. Viewing insurance as a value chain helps identify where value is created for policyholders, where costs or delays arise, and where operational improvements or technology can increase efficiency and customer satisfaction.