IT Services: Key to Change Management

Insurers today face a multitude of IT challenges, including lack of resource capacity, the need for core systems modernization, lack of resources skilled in innovative technologies, and the need for greater operational efficiencies. The pressure is on for insurer IT organizations to lead and deliver clear technological and market-competitive advantages.

IT services partners offer insurers capabilities to implement best practices, innovate, and increase overall productivity, which can give insurers a significant competitive advantage. IT services providers free up time for in-house insurer IT resources to focus on critical initiatives by performing time-consuming everyday tasks, services, and processes.

IT services partners bring with them tried-and-true IT processes and best practices which help modernization and innovation efforts succeed. By implementing these processes and practices methodically, IT services partners play a key role in change management, adoption of Agile, and Information Technology Infrastructure Library framework (ITIL) employment. IT services partners also tend to invest in key emerging technologies; insurers can leverage these investments to roll out new services and products frictionlessly and at a lower cost.

In today’s rapidly evolving digital world, insurers stand to benefit significantly from partnerships with IT services providers. Selection of the right IT services partner equips carriers with the skillsets and resources needed to become more competitive and profitable in their chosen markets. Seeking out a best-fit IT services partner takes careful consideration; insurers should have a clear vision of their needs, evaluate providers’ core services and ancillary costs, and have a ready plan for managing a relationship with an IT services provider.

Our most recent Novarica Market Navigator, IT Services Providers for Insurers, provides detailed profiles of 47 major IT services providers with information on each vendor’s capabilities, technology, and market position to help insurer CIOs understand their options in the marketplace.

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