Restructuring Operations Will be Key Initiative for Insurance in 2006
FRAMINGHAM, Mass., January 27, 2006 – Leading independent research and advisory firm, Financial Insights, an IDC company, today announced the release of its annual report identifying the Top 10 IT initiatives that will have key strategic importance for insurance organizations worldwide in 2006. The report identifies and describes these initiatives, examines why they will have an impact in 2006 and explains why they should be on the minds of business and technology executives at insurance companies and vendors serving the industry. The top three strategic initiatives for insurance are detailed in the table below.
“Insurable events are happening around the globe quicker and with significantly more impact to insurer’s bottom lines than ever before. Competitive success increasingly will depend on the insurer’s ability to leverage up-to-date information to become more agile and responsive,” said Barry Rabkin, senior research analyst, Insurance at Financial Insights. “Insurers need to restructure their operations to have significantly fewer core administrative systems and to move beyond point solutions to platforms that support secure enterprise-wide applications to achieve the requisite agility.”
Financial Insights’ Top 10 strategic IT initiatives integrates a mix of actionable, present-day value propositions that have either mandatory or high payoff potential with initiatives having future payoff potential for mainstream institutions. The Insurance Top 10 report “Top 10 Strategic Initiatives for 2006: Insurance Industry Must Pick Up The Pace” (FIN1725, January 2006) is available for clients of the Insurance subscription services.
Financial Insights hosts webcasts throughout the year for clients to provide essential guidance as they plan their strategic IT investment initiatives. On February 1, Barry Rabkin will host the Top 10 broadcast for insurance. For more information on obtaining the report or attending the webcast, please visit our website or contact: [email protected]
About Financial Insights, an IDC Company
Financial Insights provides independent research, custom consulting, and detailed multiclient studies on the technology issues and challenges facing the financial services industry. Our global research covers topics of strategic importance to corporate and retail banks, insurance carriers, asset management firms, securities and brokerage firms. Our local practices in Asia Pacific, Europe, Latin America and Canada add an in-depth regional viewpoint. Financial Insights, an IDC company, is headquartered in Framingham, Massachusetts, USA. IDC is a subsidiary of IDG, the world’s leading IT media, research, and exposition company. For more information visit: http://www.financial-insights.com.