Across the insurance industry, legacy systems are the gateway to unlocking data from the entire value chain. Addressing deeply embedded technology challenges is critical for insurers to reap the potential benefits of digital forces.
IT departments must take practical steps to create transparency and rebuild credibility with leadership by improving, measuring and reporting on service delivery and quality. This means refocusing on their core capabilities and becoming a business enabler. Rebuilding skills and expertise, reassert consistent methodologies, define and mandate standard processes and demonstrate service and financial transparency to internal clients and suppliers.
Some organizations may need to bring about more radical, transformational change. CIOs will move the IT group from a tactical to strategic function, in part by helping the business articulate their strategy and then developing an IT roadmap to support it.
© 2017 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.