Future Proofing the Insurance Enterprise

Insurance CIOs are more important than ever. The traditional value chain continues to evolve, and CIOs are challenged to meet business needs while improving efficiency. Further, the market continues to develop new segments with highly specialized niche players and larger global players at the local level.

Carriers continuously reexamine and often redefine business models, turning to IT as an enabler for transformation. Profitability, speed to market, agility, risk management and ease of doing business are all top of mind.

Generally, it boils down to two focus areas: customer orientation and efficiency. Future-proofing IT landscapes is becoming more important and will continue to be a focus as carriers are beginning to see significant returns on investment -- consolidation, simplification, standardization and interoperability of enterprise systems -- ultimately freeing up budgets for development and further introduction of new technologies. CIOs have chosen to start in areas such as financials and billing, where they can achieve a meaningful, quick ROI.