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To: Don Hand who wrote (378)	9/2/1999 1:21:00 PM
From: Steven M. Kaplan	of 570

IBM urges insurers to embrace e-business By Reuters Special to CNET News.com September 1, 1999, 9:00 a.m. PT ROME--The Internet will turn from bright opportunity to a dark threat for insurers unless they hurry to embrace the electronic age, an IBM executive warned today. "My biggest concern for this sector is that it's not moving fast enough into the e-world," Ginni Rometty, general manager of IBM's global insurance sector, told Reuters in an interview. Rometty, in Rome for IBM's global insurance executive conference, said many insurers were doing little to make the wholesale change demanded by the electronic age. "The world of the Internet brings great opportunity, but if you do nothing it's a great threat," she said. IBM Global Insurance is the leading provider of information technology business solutions to the insurance and financial services industry. Rometty highlighted a distinction between e-commerce--selling online--and e-business as a whole, which required fundamental change in companies' working practices. "E-business is much more than just selling over the Internet, it's changing the way the whole back office works," she said. "That's why it's a great threat--in the process of changing your back office it changes all your economics."

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