Optimizing IT is Top Priority in 2016 for Insurers
Staff Writer | February 15, 2016
The need to improve IT performance is a top challenge for insurer CIOs in 2016. As a result, IT organizations are increasing their adoption of new practices and disciplines in order to boost delivery and responsiveness.
In its most recent survey report, strategic advisory and research firm Novarica examines adoption rates of five key IT management practices: agile development, enterprise architecture, MDM, Bimodal or FAST/CORE IT, and UX Program/Human Factors Engineering.
“To go faster, sometimes you have to go slower,” says Chuck Ruzicka, vice president of research and consulting at Novarica and lead author of the report. “Carriers without sound data management practices and enterprise architectures are recognizing the importance of these fundamental capabilities and are working to put them in place or expand them in 2016. All IT practices are under review with proven methods being expanded and experimental programs being initiated. 2016 will be a significant change for IT delivery.”
The report, available at http://novarica.com/insurance-it-practices-and-disciplines/, is based on a survey of over 100 insurer CIO members of the Novarica Insurance Technology Research Council. Key findings include:
- Optimizing IT Organizations is the top challenge for CIOs in 2016, even more than budgets or legacy systems
- Between one-half and two-thirds of insurers are expanding capabilities in agile development, enterprise architecture, and master data management
- At least one in five insurers is experimenting with adoption of Bimodal or FAST/CORE IT and UX/ Human Factors Engineering
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The Email Chat is a regular feature of the ITA Pro magazine and website. We send a series of questions to an insurance IT leader in search of thought-provoking responses on important issues facing the insurance industry.
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