A good strategy aligns people, process, and technology across the entire organization: Novarica
Boston, MA (Sept. 6, 2018) – The insurance industry has embraced data analytics to drive business results. However, insurers are dealing with the challenges of diverse core systems with little data integration and limited agreement on what data assets mean. Instead of mining for insights, many insurers are still struggling with basic data quality and completeness issues. In a new brief, Data Strategies for Insurers, research and advisory firm Novarica identifies key issues and best practices for developing and maintaining a comprehensive data strategy that looks across the entire organization: at people, process, and technology.
“A data strategy becomes a key enabler to achieve strategic capabilities like predictive modeling and analytics,” said Mitch Wein, Vice President of Research and Consulting, and lead author of Novarica’s new report. “The strategy will align people, process, and technology in a comprehensive way to outline a target, how to get there, and how to bring the organization together to achieve this target.”
A preview of the brief is available online.
Novarica helps more than 100 insurers make better decisions about technology projects and strategy through retained advisory services, published research, and strategy consulting. Its knowledge base covers trends, benchmarks, best practices, case studies, and vendor solutions. Leveraging the expertise of its senior team and more than 300 CIO Research Council members, Novarica provides clients with the ability to make faster, better, more informed decisions. Its consulting services focus on vendor selection, custom benchmarking, project checkpoints, and IT strategy. For more information, visit www.novarica.com.
Source: NovaricaTags: analytics, data, Novarica, strategy