BLOGS

CIOs are finding that old methods of IT governance need updating as insurers expand investments in cloud, digital, data, and Agile. This changing technology environment is pushing insurers to adopt IT governance models that IT and other business units can adhere to—transparent processes of accountability and continuous communication. Effective IT governance projects align with the business...

I recently led a workshop on IT value metrics and financial management at Novarica’s 11th annual Insurance Technology Research Council meeting. The framework for the discussion was based on our recent research on leveraging business KPIs as IT value metrics and on IT financial management maturity levels. Some of the key themes we discussed included: Defining Metrics Business units...

Insurance IT leaders benefit from the use of simple, meaningful metrics to communicate the value of technology investments to business peers. Without a clearly articulated and commonly accepted set of business value metrics for IT, it can be a challenge for carrier IT leaders to create compelling business cases for new investment or receive credit for the value created by their successful...

As one of the largest and most intangible expense areas for insurers, IT departments often have difficulty demonstrating the value of their expenditures. The practice of IT Financial Management (ITFM) is the best way for insurer CIOs to manage, optimize, and communicate the value of these costs, however, this practice is immature at many insurance organizations. Ultimately, ITFM done well has the...