July 2021 – Novarica’s tenth annual Impact Awards program reviewed 66 examples of insurer IT initiatives that delivered real business impact. This volume includes eight case studies of IT practice initiatives. Companion volumes include core, data/analytics, and digital initiatives.
Each case study details business goals, project sponsors, team structure, project timeline, tools and technology used, challenges faced, success factors, and business results delivered.
More than 60 insurer CIO members of the Novarica Research Council voted to select the winners of the 2021 Novarica Impact Awards.
2021 IT Practice Winners
- Lincoln Financial for formal digital value measurement
- The Hartford for total cloud migration as a proof of concept
- Safety Insurance for migrating legacy data via RPA
Key Points and Findings
Infrastructure projects create impact. Insurers generated savings by automating migration or redeploying on cloud, often as a proof of concept for larger strategic programs.
Formal IT practices can create value across the enterprise. These can include centers of excellence to promote the use of new technology in a variety of applications.
Bottom-line impact is generally not formally measured. Less than half of insurers correlated their project outcomes in terms of real-dollar or person-hour value.
About the Author
Datos Insights
We are the advisor of choice to the banking, insurance, securities, and retail technology industries–both the financial institutions and the technology providers who serve them. The Datos Insights mission is to help our clients make better technology decisions so they can protect and grow their customers’ assets.
Other Authors
Harry Huberty
Harry Huberty is the Research Director for the Insurance Practice at Datos Insights, where he manages the Research Council, a moderated knowledge-sharing community of over 400 insurer senior executives. He also leads Datos Insights’s research on automotive telematics in personal and commercial lines. He holds an MTS in Religious Studies from Harvard Divinity School and a B.A. in Religion from...