Insurance companies are realizing that technology is at the heart of efforts to better compete in the marketplace. To get a clear real-time view of each customer while cutting costs, many firms have focused on integrating all their systems and adopting and implementing a consistent data standard.

To this end, the Insurance Value Chain family of independent software vendors and systems integrators is starting to prove itself a strong enabler. But how well have insurers actually fared in 2006? We asked industry experts for their take on progress and crucial next steps.

Matthew Josefowicz
Manager,
Global Insurance Group
Celent

Welcome back to our insurers forum, Matthew. What in your view were some of the stumbling blocks for 2006?

The major challenges in data integration and improving straight-through processing are always the same: mapping data to a common enterprise standard, creating flexible and efficient linkages between systems, and summoning the organizational will and resources to make it happen in the face of other, seemingly more urgent needs.

What are the key steps for 2007?

The first step is to really understand what the business needs, and understand how better access to data is not just going to improve reporting, but what concrete new business process will be enabled by that better access to data, and how those business processes will fit into current practices and drive better financial performance. This is a step often overlooked or given short shrift, and one that business needs to be involved in. The second step is to understand the current environment: where does what part of your data live, what formats and models is it in, and how can it be shared with repositories or other systems? The third step is to understand the technology options for bringing that data together.

What does a good data integration strategy look like?

Good data integration strategies are results-oriented. What will business do with better integrated data? If these performance goals can be defined up front, it gives both business and IT a clear goal to work toward.

What in your view is the one thing insurers should take away from this forum about providing innovative, straight-through processing?

Both business and IT have a tendency to think in terms of what has been possible within their own four walls. We encourage both sides to start with a blank slate and think in terms of enabling business processes, and then think about how to supply the data and transactional systems to support those processes.

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Contents:	Matthew Josefowicz, Celent Communication
John P. Joly, ISO Strategic Solutions, Inc.	David Lintz, ImageNow by Perceptive Software, Inc.
Scott Peart, DSPA Software Inc.	Doug Roller, Duck Creek Technologies
John Worden, AQS, Inc.	Alex Aminian, DAVID Corp.
Stephen Korow, Decision Research Corp.	Tim Tallaksen, Hyland Software, Inc.
Robert Juracka, XDimensional Technologies, Inc.	John O’Connell, Interactive Business Systems
Pamela Pecs Cytron, Pendo Systems	Ben Lam, Insuresoft, LLC
Brian Kearns, Infosys Technologies Limited	Rob Schwartz, SAP America, Inc.
Todd Haney, EDS SOLCORP	Chris Smith, Whitehill Technologies, Inc.
John Hershberger, HP Information Management Practice	Christopher G. McDaniel, Blue Frog Solutions