Webinar: Reviving the Business Case for Insurance Core System Modernization

by Craig Weber,  Karen Monks, October 13, 2011
Industry Trends
North America

Abstract

Senior Vice President Craig Weber and Analyst Karen Monks of Celent’s Insurance Group examine how legacy modernization and transformation will continue to be part of virtually every insurer’s IT roadmap for at least the next decade. What will differentiate new projects from the past is that improved system capabilities and evolving competitive pressures are forcing insurers to take a closer look at their business cases, as well as how projects are managed to realize the benefits outlined in the business cases.

The inability of legacy systems to support organic growth is a major concern for insurers. Couple that with the lack of functionality in the systems, the effort required to maintain them, and the difficulty in finding qualified IT staff to support the old languages, and insurers are finding the need to revamp the hard dollar business case to include the harder-to-quantify soft dollar benefits. This webinar looks at the business case behind every system modernization project, summarizing results of a recent Celent survey and follow-up interviews. It also offers a frank assessment of progress to date.

This presentation draws on findings from a recent report, Reviving the Insurance Core Systems Business Case. If you’re interested in this topic, we invite you to attend Celent’s event in Boston on November 3, Creative Disruption: A Core Systems Strategy Workshop. Please find more information regarding the event and how to register at http://celent.com/creative_disruption.

Audio for this event is available here.

For more information or a copy of the presentation, please contact Chuck Smith at 617.262.3125 or csmith@celent.com.

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 subsidiary 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

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