Six Things | November 30th, 2021

In this week's Six Things Paul Carroll discusses, Time to Get Rid of the IT Department? Plus, how to transform claims experience; how to transform product creation; and more.

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Time to Get Rid of the IT Department?

Paul Carroll, Editor-in-Chief of ITL

An essay published last week by a principal research scientist at the MIT Sloan School of Management says it’s time to do away with the IT department, a stalwart of corporate organizations since the dawn of the Computer Age in the 1950s.

He’s not arguing for the demise of the work, of course. IT remains at the heart of much of the innovation that companies must pursue to stand out from competitors in the market. But he says it’s time to integrate the functions of IT with front-line operations so a combination of business people and programmers can innovate in ways that matter most to those who matter most: the customers.

The essay makes a compelling case, while offering insights from pioneering companies that have done away with the IT department.

Joe Peppard’s essay in the Wall Street Journal argues that “having an IT department is exactly what will prevent companies from being innovative, agile, customer-focused and digitally transformed.”

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New Majesco Podcast

Join Denise Garth for her latest discussion featuring NFP’s Head of Innovation Mark Rieder on challenging the traditional voluntary market operating models, new technology trends and the role of innovation.
 

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SIX THINGS

 

Buckle Up for Telematics 2.0
by Stephen Applebaum and Alan Demers

For as much coverage as telematics has received for decades, its impact is just beginning to be understood.

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Breakthroughs Via Low-Code and No-Code
by David Kuhn

Low-code and no-code programming are being used to create applications, improve efficiency and enhance the customer's experience.

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Creating Room for Innovation 

Sponsored by Rimini Street 

What if it’s possible to spend less time and money on legacy systems, freeing resources to focus on developing systems that will really move the needle for the business?

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First Steps to Digital Payments Processes
by Elisa Logan

Needing to cut costs, insurers can generate ROI on day one by implementing digital payments, with little risk of a hit to customer satisfaction.

Read More

How to Transform Claims Experience
by Brent Williams

Carriers that transform claims and service operations can turn a cost into a revenue-supporting, loyalty-driving, growth opportunity.

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Why Some Workers Don’t Heal
by Gerry Stanley

That 20% of patients struggle and fail with recovery is a problem that is easily fixable once it is identified. Virtual reality plays a key role.

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How to Transform Product Creation
by  Greg Murphy

With SaaS-based technologies facilitating much easier underwriting, the next focus in innovation needs to be the product itself.

Read More

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Sponsored by JobsOhio

Beam Dental, an innovative insurtech business, was growing. With the help of JobsOhio, Beam Dental moved to Ohio and found the perfect market for a growing startup.

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November Focus: Telematics

In all my years covering all manner of technology, telematics may have caught me off-guard the most. When I first wrote about Progressive’s auto telematics program, Snapshot, in 1998, it seemed like a slam dunk. Of course, it made sense to monitor how people drove and to price their insurance accordingly.

Or not.

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Global Insurance Forum Experts Series  

Sponsored by International Insurance Society 

Over this six-part series, hear from industry leaders about building an innovation culture, leveraging data for success, and more.

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Insurance Thought Leadership

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Insurance Thought Leadership

Insurance Thought Leadership (ITL) delivers engaging, informative articles from our global network of thought leaders and decision makers. Their insights are transforming the insurance and risk management marketplace through knowledge sharing, big ideas on a wide variety of topics, and lessons learned through real-life applications of innovative technology.

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