2019 Council Meeting Report

Report Summary

2019 Council Meeting Report

Matthew Josefowicz
Advisor to the CEO

May 2019 - The Novarica Insurance Technology Research Council is a knowledge-sharing community of more than 300 CIOs and insurer IT leaders with a mission to strengthen the industry’s ability to leverage technology effectively. The 12th annual Council Meeting brought together more than 100 members for a series of presentations, panels, workshops, and direct networking events in support of this mission. This report contains brief summaries of the keynote presentations and workshops.

Topics Covered

  • The Three Levers of Value and how to frame technology investments in business value terms.
  • Innovation and Emerging Tech, including the importance of culture and organizational incentives.
  • Preparing for change in required capabilities and organizational needs.

Key Points and Findings

  • Innovation experiments are expanding, but operationalization remains a challenge for insurers who lack the organizational incentives to try new products and processes.
  • Digital, data, and core initiatives have impact across the value chain. While many insurers think of digital in terms of distribution or analytics in terms of underwriting and claims, these technologies are being leveraged to make all insurance processes faster and smarter.
  • IT leadership isn’t about IT, it’s about leadership. Managing teams, individuals, and executive relationships are the most important skills for CIOs.

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