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E.g., 2022-09-30
E.g., 2022-09-30
August 5, 2022
Our recent report on IT services providers has prompted a number of discussions about the relationship between carriers and service providers. Insurers prefer to have long-lasting relationships with service partners. However, building and maintaining those relationships doesn’t happen on its own, and it’s important for both sides to recognize the potential benefits. Life insurers, for example...
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July 11, 2022
The events of the last two years (COVID-19), the last 100 days (war in Europe), and the last five weeks (another lockdown in China) have caused companies to reassess their sourcing strategies. For many carriers, especially midsize and larger, it was almost a foregone conclusion that global resources would be a central component of their IT resourcing strategy. The strategic focus on global...
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June 10, 2022
Most people will lead a project or initiative at some point in their professional career, even if they do not have the words “project manager” in their job title. If you’re not officially leading a project, you may not realize how often you are using project management in your daily life. The skills that make an effective project manager—communication, time management, problem solving—are...
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May 31, 2022
I recently wrote about the importance of having defined project roles and responsibilities for core system transformations—one of the most time-intensive, costly, and important initiatives an insurer can undertake. After selecting the system itself, carriers should ensure that key project roles and responsibilities are assigned. Strong project management and executive buy-in are crucial for a...
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May 5, 2022
A core system transformation is one of the most critical, expensive, and time-consuming strategic investments a carrier will take on. It’s a decision that will impact the next decade and beyond. Once the decision has been made, and the celebratory client/vendor dinner is over, the meter starts running and the real work begins. During our vendor selection engagements, carriers often ask vendors...
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May 3, 2022
Commercial lines insurers are dealing with many of the same hurdles their counterparts in other lines of business are facing. But three areas of focus emerged at our recent Special Interest Group focused on commercial lines: core systems modernization, how to attract—and keep—talented employees to the team, and how to effectively partner with insuretech startups. The best approach to core...
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April 8, 2022
In 2022, all employers—including those in the insurance industry—are reflecting on workplace changes and revamping their talent strategies. Industry expectations are evolving, and employees are placing a greater emphasis on work-life balance and alignment with company values. Companies need to find creative ways to address talent shortages and other challenges of the current working environment,...
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