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December 1, 2022
Complexity gets most of the attention when attempting to explain or prevent the failure of big projects—including IT projects. This makes sense: It’s impossible for any one person to grasp all the knock-on effects any big project will have. Preparation and planning are key, but some factors will always be missed. Poor project management usually also means that the team is not proactively...
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June 28, 2021
Ransomware attacks are on the rise worldwide, as the recent attack on the Colonial Pipeline highlights. Insurers are raising premiums and limiting coverage in response to the growing number of ransomware-related claims. The rise in attacks has been so steep that the French government encouraged the insurer AXA to halt any ransomware-attack reimbursements in France for fear of...
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December 14, 2020
Erik Brynjolfsson, Daniel Rock, and Chad Syverson caused a minor sensation in 2018 when they proposed their “Productivity J-Curve.” It suggested that productivity growth in the past couple of decades has disappointed (at least in part) because investments in general-purpose technologies like AI and machine learning only really bear fruit in combination with investments in intangibles like...
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July 14, 2020
Property technology, or PropTech, promises to digitalize the most tangible of physical assets: property. As discussed in an earlier post, PropTech startups are active in commercial and residential property; they can be divided into solutions for buying, selling, and renting property as well as for managing it. For insurers implementing return-to-office plans, the “property management...
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April 16, 2020
A recent briefing in The Economist argued that the COVID-19 pandemic will accelerate three existing worldwide trends in business: deglobalization, digitalization, and consolidation. All three trends were well underway before the current crisis. Trade spats and supply chain disruptions were leading businesses to consider diversifying their supply chains or bringing production home,...
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August 29, 2019
Real estate and property management are about the most tangible of assets. Perhaps because of this, they have experienced relatively minimal technological disruption. This may be changing, as a number of property technology (PropTech) startups hit the scene, ready to shake up real estate and property management. Some of these innovations will likely affect insurers and insurer CIOs—especially...
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May 21, 2018
Talent has become the top challenge CIOs face, above IT ops and budgetary concerns (see our report, Insurance IT Talent Management, authored by our own Rob McIsaac). What do workers need to be good at their jobs in the modern insurance industry? According to a recent special report in The Economist, in addition to a combination of good social and math skills, today’s workers in...
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