Knowledge management, its essence and application in insurance industry - a qualitative study of insurance companies operating in Guwahati

The insurance industry is one of the sectors which are operating in a most dynamic environment where requirement of information capture and dissemination is highly felt. The growing business and competition has called for a structured knowledge management process to offer a competitive edge to the organisations. The sector requires a collaborative environment where management and sharing of information among peers is crucial. The present research is an attempt to look into the perception of professionals, advisors etc, associated with the sector regarding the need for a structured KM process. The research paper looked into the KM applicability as perceived by the professionals working in the insurance sector in Guwahati, Assam. It is found that since the performance of the organisations depends on the quality of service and inter-personal interactions, there is a great need for training and data management. Performance level can be enhanced with a continuous process of capacity building of the employees through a defined strategy of the organisation supported by congenial culture of information sharing and knowledge exchange. The activities of emphasis have been identified through the research which can be focal point of concentration from the KM point of view.