Many challenges loom on the horizon for insurance IT organizations, including a lack of resource capacity, scarcity of talent, core system modernizations, and managing operational efficiency. The demand for strong IT stewardship has continued to grow as insurers strive to modernize, innovate, and compete in the ever-evolving insurance space.
Insurers can leverage IT services providers to meet their needs, whether that means providing talented resources, assisting with systems modernization and operational effectiveness, or implementing new capabilities. When choosing the right IT services provider, CIOs should consider the breadth/depth of a provider’s domain expertise, the geographic location of their resources, the nature of the work to be undertaken, and vendors’ track records.
Insurer CIOs and their teams would be especially wise to consider the type of relationship a vendor’s body of work implies. Long-term transition efforts and known quantities of work, for example, may need to be handled by different IT services partners. When leveraged judiciously, IT services providers can equip insurers with considerable capabilities due to their ability to respond to a wide range of needs. Partnering with the right IT services provider at the right time is critical to insurer success.
In our most recent report, we profile 41 major IT services providers—with a focus on ADM and project-based services. This report is designed to help insurer CIOs and their teams rapidly familiarize themselves with each provider’s organization, market position, client base, and areas of service. For more on current options in the IT services market, see our latest Novarica Market Navigator, IT Services Providers for Insurers.
Add new comment