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  5. IT Governance in Insurers: One Size Does Not Fit All

IT Governance in Insurers: One Size Does Not Fit All

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8 June 2015
Catherine Stagg-Macey
Jamie Macgregor

Abstract

Insurers make a significant annual investment in IT. Managing how these decisions are made and how IT investment aligns with business outcomes is critical. Celent set out to determine the latest themes in the area of IT governance, with a focus on large multinationals, where this can be challenging.

In the report IT Governance in Insurance, Celent conducted interviews with senior staff at five of the ten largest multinational insurers. These interviews were augmented with conversations and experience Celent has had in this field.

The report looks to challenge the prevailing assumption that there is a “right” IT governance framework that can be replicated in different insurers. The report returns to the building blocks of IT governance and sets out the case for a clear link to business strategy.

“It is still clear that people think IT governance is done in the basement by some IT geeks, and it couldn’t be further from the truth,” says Catherine Stagg-Macey, an executive advisor with Celent’s Insurance practice and author of the report. “Good IT governance is a living and breathing manifestation of the business manifesto.”

The report includes a discussion on why IT governance matters, and the key elements of IT governance. It reports on the key themes in multinationals, discusses six factors in good IT governance, and closes with thoughts on where insurers should be placing their attention.

This 26-page report contains seven figures.

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