Gartner Research

Insurance CIOs Need to Become Digital Leaders to Bridge the IT Maturity Chasm

Published: 25 March 2014

ID: G00260599

Analyst(s): Juergen Weiss

Summary

Gartner workshops with IT executives from European and North American insurers revealed a significant lack of IT maturity to address digitalization of business transactions and business models. Life and P&C insurance IT leaders need to take more risks to support disruptive innovation.

Table Of Contents
  • Impacts

Analysis

Impacts and Recommendations

  • Insurance IT leaders who are digital laggards will fail to exploit the first-mover advantage in the marketplace and will jeopardize the competitive positions of their enterprises
  • Insurance CIOs rate the digital business maturity of their organizations higher than their own IT capabilities, which will lead to greater pressure on IT
  • As a response to the lack of digital maturity, insurance IT leaders need to embrace more risk in their strategies and evangelize new technologies among their business peers

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