Breaking National IT Silos: Best Practices for Pan-European Life Insurers

ID Number: G00159418

28 July 2008

Juergen Weiss

Many Pan-European life insurers are thinking about business and IT strategies to become better aligned within an international environment. Organizations must consider several issues when they want to set up more unified IT architectures.

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Table of Contents

Analysis

1.0

Introduction

1.1		Multilocal Environments Spawn Divergence
1.2		Business and IT Challenges

2.0

Architecture Approaches

2.1		Unstructured Approach
2.2		Federated Approach
2.3		Centralized Approach

3.0

Drivers for Change

3.1		Cost Reduction
3.2		Regulatory Compliance
3.3		SOAs

4.0

Business and IT Challenges

5.0

Imperatives to Overcome Business and IT Challenges

5.1		Imperative 1: Get Strong Guidance and Support From Corporate Management
5.2		Imperative 2: Engage IT and Business Leadership From Each Affiliate to Create Greater Acceptance Among Stakeholders in the Local Country
5.3		Imperative 3: Agree on Formal Commitments and Track Them Periodically
5.4		Imperative 4: Establish Cross-Country Teams to Break Up Organizational Silos
5.5		Imperative 5: Become as Familiar as Possible With the Different Local Business Drivers
5.6		Imperative 6: Define a Long-Term Visionary IT Road Map, and Communicate It Well Within the Entire Group
5.7		Imperative 7: Do Not Overstrain the Organization; Include Realistic, Iterative Steps for the Road Map
5.8		Imperative 8: Define Financially Transparent Decision and Funding Models
5.9		Imperative 9: Change Incentive Structures to Encourage Harmonization Efforts Among Affiliates
5.10		Imperative 10: Give the IT Department an Equitable Position Within the Group, and Make Its Voice Heard
5.11		Imperative 11: Implement a Sound Governance Structure
5.12		Imperative 12: Establish a Coherent Software Selection Process

6.0

Recommendations

Recommended Reading

List of Tables

	Table 1.	Business and IT Challenges for Greater Alignment of Pan-European Insurers

List of Figures

	Figure 1.	Business and IT Approaches of Pan-European Insurers

Life Insurance, Pension and Annuity Business Strategies
Life Insurance, Pension and Annuity Systems

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Resource Id: 733620