Gartner Research

Insurance 2030 Scenario: Administrators Use Proven Technology to Grow the Business

Published: 03 March 2017

ID: G00323159

Analyst(s): Richard Natale

Summary

In an era of frequent change, life and P&C insurance companies will have to plan for different scenarios requiring distinct business and IT strategies. For insurers in the administrator scenario, we offer strategies to help CIOs manage change in stable markets with traditionalist corporate cultures.

Table Of Contents
  • Recognize When Conditions Support the Administrator Scenario
    • Market Volatility: Low
    • Corporate Culture: Traditionalist
  • An Action Plan for Administrator CIOs
    • Build an Operational Efficiency Culture by Mandating Goals and Objectives for IT Projects and Measuring IT ROI at Project Completion
    • Institute Strong IT Relationship Management Capability to Align Business and IT
    • Leverage Global Multisourcing Partners by Offering Them Incentives to Improve Quality and Reduce Costs
    • Develop a Robust and Measurable KPI Framework to Create a Scorecard That Links IT Results to Business KPIs
    • Monitor and Evaluate Market Conditions on a Regular Basis
  • Focus on Three Areas

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