Insurers Need New Leadership Skills to Drive Transformational Change

Prioritizing transparency, integrating IT into business, and fostering innovation among key leadership tactics to realize transformational change: Novarica

Boston, MA (July 9, 2019) – With core system transformation on the rise, the changing demographics of the US workforce and customer base, and the growing impacts of InsurTechs and new technologies, insurers must have skilled and committed leaders to see their organizations safely to the other side of transformational change. In a new report, IT Leadership and Transformational Change: Key Elements, research and advisory firm Novarica outlines the leadership tactics necessary to navigate transformational change in three parts: communication and alignment, career development, and organizational culture.

“Communication, empathy, and the ability to relate to all employees on a human level requires an authentic approach from leaders with keen emotional intelligence coupled with business acumen,” said Nancy Casbarro, Vice President of Research and Consulting and author of Novarica’s new report. “Leadership during business as usual is a driving force; leadership during times of great change can be the difference between gaining competitive advantage and obsolescence.”

A preview of the brief is available online.

Summary

Transformational change has become commonplace in the insurance industry. New administration systems, digital strategies, and emerging technology implementations create opportunities for CEOs to deliver business value while requiring that they inspire their employees to rise to the challenge and embrace change.

Authentic leaders with empathy for the people these changes impact can help lead organizations through upheaval. Honest communication can build trust and excitement for a company vision and helps define individuals’ roles in making that vision a reality.

This brief focuses on the leadership tactics necessary to realize transformational change. Click here for the table of contents or to access the report.

About Novarica

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: Novarica

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