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CORE SYSTEMS

CORE SYSTEMS

The Smart Play When Implementing Software Platforms

Robert Regis Hyle | May 05, 2015

The fear of failure is often greater than the excitement of success. Insurance IT leaders focus so much on the negatives—such as, will I lose their job if this project doesn’t achieve the desired success in terms of ROI—that they forget the positive aspects that are part of every successful project.

There’s a reason insurers refer to core system implementations as career-making initiatives. The rewards that come from a successful project can carry over for years, not only in good will toward the IT department, but the respect from business peers that realize the job each of them is performing is a direct reflection of the new software.

Successful implementations have always been a big worry for IT leaders. Some CIOs would rather suffer silently with their legacy systems than attempt to change, but there comes a point where the obvious can no longer be avoided.

Which brings us to the increasing dependency insurers have placed on systems integrators and consulting firms to supplement their IT departments with the implementation of new core systems. IT departments have never been immune from the need to make the company leaner, but the result often amounts to overworked staff that doesn’t have the time or the manpower to both keep the trains running and install new software.

As columnist George Grieve pointed out in this magazine several months ago: “Implementation teams have become commonplace participants in legacy replacement projects for lower-tier carriers, providing specialist skills in vendor software as well as structured offerings for specific project components, such as quality assurance or conversion.”

The search for a successful implementation team rivals in importance the need for the right vendor solution. Do you choose a partner based on their relationship with the solution provider or search for someone that provides the best fit for your company?

Specialists are everywhere these days. The need to turn to someone for a project your IT team can’t handle on its own is a tough decision for some CIOs, but it is becoming the smart play with each passing successful implementation.

 


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