Through a managed innovation program, the CIO will be a true strategic partner in preparing the company to navigate a changing marketplace, and deliver value that will measurably impact the top and bottom line.
As IT develops its long-term strategic goals, innovation should be oriented towards those goals. Otherwise, it risks becoming disruptive to the organization itself rather than competently delivering disruptive ideas in the market place.
The typical IT organization will need to evolve through seven stages to become an “innovation foundry.”
Social media provides a channel for producers to scale service, increase productivity, and build stronger customer relationships to meet consumers’ new expectations.
In addition to understanding the fundamentals of the business they’re in, insurers need to approach innovation with reference to three market levels that offer different opportunities and require different tactics: the present market, the target market and future market.
Senior insurance executives believe that modernizing technology will result in fiscal growth, but many are still reluctant to take the plunge. Web services and business intelligence offer an opportunity to begin the journey.
John Presch, CIO, The Phoenix Companies, discusses the market forces and technology improvements driving increased adoption of e-app, e-signature, automated underwriting and other improvements in life insurance distribution.
“You manage things; you lead people” – Rear Admiral Grace Murray Hopper Imagine an 18th century English cotton mill. The roles of the workers, supervisors and the boss were clear. The owner had the vision for the business, developed strategic partnerships, hired and fired, and decided where the final product would be sold. The supervisors Read More »
Among reasons for selecting iPartners, Cumberland Mutual’s CIO Rob Musick cites the right tools and expertise, a fast implementation, and familiarity with the insurer’s CSC PT database structure.
Transformative solutions come from people unencumbered by the way they’ve always done things rather than preserving the tried-and-true. This allows them to bring real value to their customers.