Prudential Group Insurance established a Technology Business Management Office to increase transparency and to communicate the cost, quality, performance, and business value of IT. This greater transparency generated significant savings in 2015, and supported optimized staffing levels.
This case study, along with dozens of other eligible cases, was published this spring in the Novarica Best Practices Case Study Compendium 2016, available at http://novarica.com/compendium2016/. It was selected as the winner in its category by insurer CIO members of the Council.
“This is exciting and terrific recognition of the work Prudential Group Insurance’s IT team has put into building a robust technology business management practice. The building out of these processes and tools are key capabilities in our IT transformation to ‘Running IT like a Business.’ We have increased transparency in discretionary spending, the total cost of ownership, and application portfolio rationalization while significantly enhancing our investment decision-making to drive greater business value and efficiency.” said Ray Law, vice president and chief technology officer, Prudential Group Insurance.
Prudential will be presenting its winning initiative, along with several other winners in other categories, during a webinar at 2pm ET on October 19th. Interested attendees can register at https://attendee.gotowebinar.com/register/6539726214110425089.
“We congratulate Prudential Group Insurance on the peer recognition of their successful initiative,” said Matthew Josefowicz, president and CEO of Novarica, and lead moderator of the Research Council. “Since 2012, Novarica has published more than 150 case studies of insurer IT initiatives that drive business results, and the most impactful have been selected by our Council members for awards each year.”
About the Novarica Research Council Impact Awards
The Novarica Research Council Impact Awards are the largest purely peer-juried award in insurance technology. Dozens of CIO members of the Novarica Insurance Technology Research Council vote annually to recognize the efforts of their peers to use technology to drive business value in digital, data/analytics, core systems, and IT operations.
The Novarica Insurance Technology Research Council is a free, moderated, knowledge-sharing community of more than 300 insurer CIOs and senior executives. In addition to recognizing successful initiatives through the Impact Awards, members participate in anonymized studies and private, vendor-free events. The Council is managed by Novarica, a research and advisory firm that helps more than 80 insurers make better decisions about technology projects and strategy. More information at http://novarica.com/council/.
Novarica helps more than 80 insurers make better decisions about technology projects and strategy, through research, advisory services, and consulting on vendor selection, benchmarking, project assurance, and IT strategy. www.novarica.com
Contacts
For Novarica
Stephanie Dalwin, 617-897-1953
[email protected]
