Managing IT Resources More Effectively in a Time of Crisis

With financial services in crisis, it may be tempting to hide from the turmoil. But that could mean missing a tremendous opportunity. In fact those organizations that can find ways to control expenses while also investing in innovative technology strategies are likely to come out of the downturn as big winners.

(Photo: http://www.newscom.com/cgi-bin/prnh/20090518/NY18083)

Insurance & Technology's new IT Survival Guide provides targeted and proven information about how to manage IT resources more effectively in a time of crisis and how to make sure that the IT organization is recognized as an integral part of an insurance enterprise's performance and success. There's no reason to concede any ground in today's marketplace, and I&T created the IT Survival Guide to provide you with the tools and resources you need to fight -- and win.

FROM THE EDITOR

Getting Through the Crisis: Insurance & Technology Provides Strategies and Tools With New "IT Survival Guide"

I&T presents an in-depth report on the tools, skills and philosophies that can help insurance technology executives effectively manage budgets, maximize resources, and help drive growth -- even in the toughest business environment in years.

  http://insurancetech.com/showArticle.jhtml?articleID=217300521


  NAVIGATING IT BUDGET CHALLENGES

2009 IT Budgets: Insurers Value Long-term Strategy Over Short-term Tactical Gains

In an effort to avoid sacrificing long-term strategic plans for short-term tactical gains, those carriers that are able to are demonstrating patience with regards to their 2009 IT spending plans.

  http://insurancetech.com/showArticle.jhtml?articleID=217200505

  The Right Projects at the Right Time

By linking business strategy to business processes and then to IT investments, insurers can maximize ROI while controlling costs and remaining competitive in the marketplace.

  http://insurancetech.com/showArticle.jhtml?articleID=217300853

  Insurers Seek Fewer, Deeper Partnerships With Technology Vendors

Carriers seeking operational efficiency and growth are willing to invest in IT, but CIOs are cutting costs where they can and leveraging vendor capabilities for customized innovation.

  http://insurancetech.com/showArticle.jhtml?articleID=216500883

  CIOs Must Adopt an Offensive Strategy to Execute the New IT Mandate

Today's economic environment is driving a departure from well-established maxims of good IT practices. CIOs should adopt an offensive strategy to confront the demands of a new IT mandate.

  http://insurancetech.com/showArticle.jhtml?articleID=217300132


  TECHNOLOGY STRATEGIES THAT SAVE MONEY
  Carriers Should Keep Up with Cloud Computing Advances, Challenges

CIOs looking to improve efficiency and cut IT costs should stay current with the benefits and challenges of cloud computing, asserts Tom Pettibone, Founder and Managing Partner, Transition Partners.

  http://insurancetech.com/showArticle.jhtml?articleID=217100311

  Economy Drives Exploration of New Outsourcing Opportunities

Insurers are slightly more cautious about the financial, political and security risks of offshoring, but they are keen to find new BPO opportunities.

  http://insurancetech.com/showArticle.jhtml?articleID=217200652

  Amerisure Realizes New Benefits From Thin Computing Initiative

Although Amerisure initially deployed thin-client workstations to create a more stable infrastructure, now that cost savings has become a priority for insurers during the economic downturn, the carrier is ahead of the curve.

http://insurancetech.com/showArticle.jhtml?articleID=217100129

American Family Selects TRIRIGA for Facilities Management, Environmental Sustainability

While some insurers consider environmentally friendly initiatives as 'nice to have' projects in the current economic climate, carriers such as American Family recognize that there are hard dollar savings in going green.

  http://insurancetech.com/showArticle.jhtml?articleID=217100351

  Standards Provide Value Today and Tomorrow

The value of data standards begins with implementation and continues over time, asserts Lloyd Chumbley, VP, Standards, ACORD.

  http://insurancetech.com/showArticle.jhtml?articleID=217100273


  WORKFORCE CHALLENGES AND OPPORTUNITIES
  Insurance CIOs Must Focus on Retaining Top Talent During Downturn

In rough economic times, top-tier IT professionals remain the most mobile. Insurers that can afford to should aim at beefing up their organizations; all CIOs need to work harder to hold onto the quality people they already have on staff.

  http://www.insurancetech.com/showArticle.jhtml?articleID=216500450

  Cultivating the Workforce of the Future

Understanding, attracting and retaining the next generation of IT professionals -- and visionaries -- doesn't just happen without a plan. Genworth Financial is taking steps to ensure that the IT talent of the younger generations is a part of the company's future, reports SVP and CIO Scott McKay.

  http://insurancetech.com/showArticle.jhtml?articleID=217000241

  Managing Layoffs: Surviving the Transition

Outsourcing and layoffs not only affect the employees who may be transferred or let go, they also present change management challenges and hazards for the effective functioning of IT organizations after the transaction is completed, as Billy McCarter, now SVP, Delivery, for MajescoMastek, knows all too well.

  http://insurancetech.com/showArticle.jhtml?articleID=217100121

  Former CIOs Face Tough Job Market

As insurers offer fewer senior technology positions to more applicants, consulting work may be a good way for unemployed CIOs to ride out a tough economy -- especially as it often leads to a permanent position.

  http://insurancetech.com/showArticle.jhtml?articleID=217100282


  SURVIVING CRISIS AND CHANGE
  Innovating in a Down Market: BCBS of Florida Leverages Brainshark

Budget constraints may shrink carriers' appetites for large-scale investment in R&D, but more bite-size solutions can help insurers innovate on a smaller scale, as evidenced by BCBS of Florida's adoption of Brainshark.

  http://insurancetech.com/showArticle.jhtml?articleID=217200806

  Survival Skills: Insurance CIOs Must Adapt to Changing Market

Accenture consultants identify the traits that high-performance insurance CIOs must exhibit as they adapt their skill sets and evolve a new IT strategy in response to post-crisis challenges.

  http://insurancetech.com/showArticle.jhtml?articleID=217000239

  Zurich's TOM Initiative Takes Aim at Long-Term Profitable Growth

IT plays a key role in Zurich's Target Operating Model program implemented across the dimensions of facilities/configuration, people, processes, platforms and IT, and performance management.

  http://insurancetech.com/showArticle.jhtml?articleID=217300167

  Ohio National's IT Organization Shines in Challenging Business Environment

Long-term technology decisions, sound resource allocation and good communication have helped Ohio National's IT professionals to respond to a rapidly changing business environment in life and annuities.

  http://insurancetech.com/showArticle.jhtml?articleID=217200402

  Insurance CIOs Deal With the Pressure of Today's Economic Climate

Can you handle the pressure? Some distinguished insurance CIOs reveal how they deal with the pressures of the job from a personal perspective.

  http://insurancetech.com/showArticle.jhtml?articleID=217300133

  Press Contact
  Katherine Burger
  Editorial Director
  kburger@techweb.com
  212-600-3062

First Call Analyst:
FCMN Contact: jschnaars@techweb.com

Photo: http://www.newscom.com/cgi-bin/prnh/20090518/NY18083
PRN Photo Desk, photodesk@prnewswire.com

SOURCE: InsuranceTech.com

CONTACT: Katherine Burger, Editorial Director, +1-212-600-3062,
kburger@techweb.com

Web Site: http://insurancetech.com/