Boardroom Series: Can We Be Green and Profitable?

by Catherine Stagg-Macey, November 3, 2009
Industry Trends
Global, Asia-Pacific, EMEA, Latin America, North America

Abstract

Celent's monthly Boardroom Series explores the challenges faced by insurance companies, helping C-level executives prepare for the next “hard question” their boards of directors are likely to ask. Each brief focuses on a single question, provides Celent's view of the issues behind the question, and defines specific action steps that will position a carrier to deliver an effective response.

The fourth installment of this series is Can We Be Green and Profitable? Green principles are grounded in best practices for running a lean operation, which is a message that chimes well in the current recessionary climate. Such initiatives focus on reducing costs by being smarter. The benefits of green IT go beyond just business value, and it is likely that, in the future, there will be higher consumer demand and/or stricter rules governing corporate participation in green IT programs and strategies. An organization that begins adopting green IT policies now will find it easier and less costly to adjust later.

"Approaches to greening the organisation are largely mixed, but this appears set to change in the coming years," says Catherine Stagg-Macey, senior analyst with Celent’s Insurance Group and author of the report. "A convergence of factors – legislative, consumer attitudes, and fuel prices – is likely to see increased interest and investment in this area."

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Question from the Board

1

Problem Statement

1

Celent’s View

1

Action Items

1

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