First in Series Drawn from Experiences of 225+ CIOs in Novarica Insurance Technology Research Council
November 3 (NEW YORK) – Novarica, a research and advisory firm focused on operations and technology strategy for insurers and financial institutions, today published the first in a new series of case studies drawn from the experiences of the more than 225 CIO members of its Insurance Technology Research Council, examining a multi-year core systems transformation project at Great American Insurance Company.
Great American’s core systems transformation is a multi-year re-architecting of core enterprise systems serving multiple P&C operating units to bring together best-of-breed components into a service-oriented environment.
“The effort is transforming not just the technology environment, but the firm’s business processing capabilities, training requirements, and attitude towards the value of IT for a specialty lines carrier,” said Matthew Josefowicz, director of the insurance practice at Novarica and lead author of the report. “This case study, written in close consultation with Great American, provides an in-depth look at the in-progress initiative, the challenges faced and overcome, the effects, and the best practices that other insurers should note in planning their own significant IT efforts.”
This is the inaugural report in a series of case studies of successful transformative technology initiatives by insurers. The outline of the report follows Novarica’s 4 Ps Strategic Framework, which stands for “Pressures, Principles, Projects, and Programs.”
- Pressures: What are the business pressures facing Company across all areas?
- Principles: What are Company’s IT principles?
- Projects: What projects will Company prioritize in the next 2-3 years? How do these projects address the pressures and follow the principles?
- Programs: What projects will Company organize into larger programs in the next 2-3 years, and how will these be managed?
The 15-page report is available at www.novarica.com/case_study_GAIC.
Novarica provides information, insights, and perspective on markets, operations, and technology to financial services and insurance executives. www.novarica.com