Insurer CIOs continue to be challenged to grow and transform their business with budgets that remain consistent, while simultaneously working to reconcile internal legacy environments. CIOs are not just investing in new technologies but in developing the capacities of their organizations to deliver more and better capabilities in a manner that is more efficient and effective. Carriers are both adopting and expanding upon well-known and emerging IT practices like Agile development, user experience measurements, and enterprise architecture, according to an analysis of over 90 insurer CIOs.
The two most pressing concerns for CIOs continue to be talent management and IT operations, as insurers look to find and retain the right resources to manage their legacy environments. Agile development is the IT practice with the highest level of planned activity in 2018. Carriers have widely adopted Agile in both the life/health/annuity and property/casualty sectors, and they look towards expanding these practices to ensure quick, responsive delivery of internal projects. Carriers are also addressing the challenges of integrating new core systems or new technologies into their technical environments, expanding the focus on enterprise architecture and user experiences initiatives to meet internal and external usability expectations.
When IT practice improvement efforts weren’t actively being expanded upon, they held steady. This shows that integrating IT practices and addressing these issues isn’t a simple, overnight process. Such transformational programs are enterprise-wide cultural initiatives, not just IT initiatives or business initiatives. To position themselves properly for the future, CIOs are expected to build on their investments in IT disciplines that began in 2016 and 2017.
For more on this, see our recent Novarica report at: https://dev-novarica.pantheonsite.io/insurance-practices-disciplines-2018/.
Add new comment