Information Governance Property Insurance - Homeowners for Private Individual.

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THE RESEARCH PAPER:While your research paper will undoubtedly include a number of tables, diagrams, lists and other illustrations, the paper is to be written in narrative form using the APA style. Include citations to your research.

Your paper should include no fewer than 7 subheading or subsections that will correlate to the 7 questions above.Give each subsection or heading a name that is descriptive of what you are trying to achieve.Formatting for the paper is described in the sample APA format that provided.Please include a table of contents that will help me find each section or response to each of the 7 instructions above.

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SEMESTER PROJECT – PHASE II Category 1. Phase II will, among other things, involve performing a records inventory and a records retention plan for the category Property Insurance - Homeowners for Private Individual. As you will select representatives from other departments to assist you who may not be quite so familiar with the concept of information governance, you will need to explain to these representatives the purpose or goal of your records inventory and records retention plan, and tie the records inventory and record retention plan into the 10 high level goals and 7 problem areas that were identified in the initial introduction to the organization. Please write an explanation for the representatives who will assist you in conducting the records inventory and record retention plan what is the purpose for each. Then explain to them in writing, in response to this question, how the records inventory and records retention plan can be tied to particular high level goals you have previously identified and to solving the particular problem areas or issues identified. 2. Assume that you can select five (5) representatives from within the organization to assist with the records inventory for the insurance line (category) you have chosen to work on. These can be five representatives from any insurance line or division in the organization in addition to the one that you have chosen for your project, and may also include representatives from legal, sales, accounting, risk management, investment services, quality and compliance, analytics, human resources, information technology, actuary, security, plant and facilities management, and marketing. Please identify the five representatives you will chose to assist you with the records inventory and tell why you have selected these representatives. 3. As project manager you have decided to collect information for your records inventory and records retention plan by using a two-step approach where you first send out survey questions to the appropriate departmental units, and then once you have received the responses you will follow up by conducting face-to-face interviews to expand on answers and to get more detail for specific questions. Identify the top two (2) department(s)/areas/units that you will need to survey and subsequently interview, depending on which category or line of insurance you are focusing on for this phase of your project. 4. For the two (2) departments/areas/functional units that you have targeted you want to be able to speak intelligently to the knowledge personnel within that department and ask appropriate and relevant questions. Therefore, you need to do some preparation and brainstorming before making contact with the departments/units that you have identified as essential. To that end, identify (using diagram, table, hierarchy chart, taxonomy, or other form that is most descriptive) the “record types” that you expect are created and maintained in each of the departments/areas/units that you have decided to focus on. Use descriptive names for each record type and tell the type of information that would be retained in each record type. This can be as specific as creating a taxonomy for the record if you should decide to do so (see Appendix A in your text book), or you may conduct research and determine what other structure would be appropriate in order to convey this information. The most effective way to convey this information to me would be in the form of a table or tables. You should include the record type, department responsible for creating and maintaining that record type. You should include information about what type of event would trigger the creation and/or destruction of the record types you have created. Once you have developed or designed your record series, please describe the series in narrative form. Remember, while tables are helpful, your paper must be in narrative form, so if you use tables or diagrams, use them as exhibits to enhance your explanation. Also consider, this is a brainstorming effort on your part. When you conduct your records survey you will ask questions that will help you better formulate your records inventory for the insurance line that you have selected. And remember, don’t limit yourself to only one record series. There will most likely be more than one for the insurance line you have selected. And, target your questions to helping to achieve your high level goals identified, or to correcting or resolving the issues or problem areas you have identified. [For example, if we were dealing with a financial institution, which we are not, (I am only using this unrelated example to give you an idea of what I want you to do), one possible record series that might exist could be a record type for your checking account customers, The record type would include such things as the full name on account, whether it is a commercial or private account (individual or joint account), address, telephone number, pin number on account, account number, date account was opened, date account closed if applicable, type of account, social security number tied to the account, who may sign checks on the account, signature cards on file, whether the account has a POD (to whom the account balance is paid upon death of account holder), deposit history, check history, history of use of the associated debit cards, number of debit cards issued, name on each debit card, account number on each debit card, whether the account has overdraft protection and if in what amount or limit. ] 5. Develop a Records Inventory Survey Form that you are going to use in surveying the departmental unit(s) you have identified above. The purpose for your survey is to be able to identify the kinds of records each department “owns” the records, and which other department(s) access the records, what application(s) create the record, where the record is stored physically and logically, date created, last changed, whether it is a vital record, and whether there are other forms of the record. You want to be able to use this information to make decisions related to retention and disposal of the records, as well as identifying how you can achieve your high level goals and resolve the issues or problem areas identified. 6. Develop an initial set of interview questions that you plan to use as a follow up to the initial survey that you drafted in 5 above. 7. Based upon the records you have identified above, develop a record retention schedule for the record types. For each, record type explain how long you expect to retain record type, and then once marked for destruction explain the method of destruction used. When you plan to use event-based retention for any of your record types identify the triggering event. For this question, you need to discuss the legal requirements and compliance considerations. THE RESEARCH PAPER: While your research paper will undoubtedly include a number of tables, diagrams, lists and other illustrations, the paper is to be written in narrative form using the APA style. Include citations to your research. Your paper should include no fewer than 7 subheading or subsections that will correlate to the 7 questions above. Give each subsection or heading a name that is descriptive of what you are trying to achieve. Formatting for the paper is described in the sample APA format that provided. Please include a table of contents that will help me find each section or response to each of the 7 instructions above.
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Running head: RECORDS INVENTORY AND RETENTION PLAN AT IAS

Records Inventory and Retention Plan at Ias
Name
Institutional Affiliation

RECORDS INVENTORY AND RETENTION PLAN AT IAS

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Contents
Introduction ..................................................................................................................................... 3
Correlating Records Inventory and Retention Plan to Organizational High-Level Goals.............. 3
Increased Market share................................................................................................................ 3
Ensuring that the Organization is Analytics Driven.................................................................... 4
To develop processes that Ensure better Service Co-ordination and Provision throughout the
organization ................................................................................................................................. 5
To Improve Performance and Outcomes .................................................................................... 6
To guarantee quick access and recovery of Data in the event of a natural disaster .................... 6
To Maintain a Viable Retention and Destruction Scheduled for both the active and inactive
Customer Information ................................................................................................................. 8
Chosen Representatives and Selection Rationale ........................................................................... 9
Target Departments for a Survey .................................................................................................. 10
Property Insurance..................................................................................................................... 10
Information Technology department ......................................................................................... 10
Projected Departmental Record Types ......................................................................................... 11
Records Inventory Survey Form ................................................................................................... 13
Project Interview Questions .......................................................................................................... 14
Project Records Retention Schedule ............................................................................................. 16
Conclusion .................................................................................................................................... 17
References ..................................................................................................................................... 18

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Introduction
Information governance is an integral proponent in the effective management of
insurance companies. The contemporary business world has witnessed a significant paradigm
shift in the manner in which the ‘information rhetoric' is addressed. This project gives an outline
regarding the relevance of information governance in the records inventory and retention plan at
Insurance Assurance of the South (IAS).
Correlating Records Inventory and Retention Plan to Organizational High-Level Goals
The high-level goals identified previously within the property insurance category are
central in the realization of an effective information governance system within the organization.
An inventory and retention plan, specifically designed for the property insurance category, will
enable streamline the manner in which information flows into and out of the organization –
hence helping solve the problems that have been identified with the company’s information
management. The following description indicates how the plan can be tied to the high-level goals
identified:
Increased Market share
The insurance world is increasingly becoming dependent on digital data as a significant
component in the overall business paradigm (Laudon & Traver, 2018). There has been an
increase in online marketplaces where people can access listings of houses and proceed to
purchase without necessarily making a physical visit to the property. Subsequently, it is common
for an individual to secure a premium for some property that he does not know much about.
Insurance companies and other players within the housing industry have developed competitive
packages that will enable them to sell their premiums to potential clients. Given that every single
element of the industry is digital – from home listings, information about premiums, making

RECORDS INVENTORY AND RETENTION PLAN AT IAS

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online payments and reservations – insurance firms have realized the importance of maintaining
centralized data centers with are reconciled with every component of the firm for optimal
business performance. It is imperative that insurance firms must maintain dedicated capital in
governing the market’s info...


Anonymous
Awesome! Perfect study aid.

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