Chicago — While retailers love to tout elimination of the “middleman,” no such action is feasible or desirable for insurance companies looking to reconcile their business and information technology teams. Indeed, a new report from Boston-based
“In order to deliver sustainable, significant change at the execution level, the business analyst job function requires attention and investment,” the report, authored by Celent Senior Analyst Mike Fitzgerald, states.
Yet, the report stresses that for many companies the development of business analysts is rather ad hoc, especially compared to way other positions are developed.
“In many cases, the job lacks clear definition and boundaries,” it states. “Skills are often learned “as and when” through individual effort and initiative. Business analyst development has been described as an ‘afterthought.’ In contrast to the underwriting (CLU, CPCU, IIA), claims (AIC), and project management (PMP) designations, there is no industry-wide accepted certification of business analysts.”
The report profiles two insurers, Hartford, Conn.-based
Companies that follow these suggestions will be better situated to transform the operations, the report contends.
“Transforming an enterprise involves identifying, facilitating, documenting and communicating new business processes,” Fitzgerald notes. “The people responsible for these critical activities in most insurance companies are the business analysts. By improving their skills, companies are increasing the quality and quantity of successful project implementations.”
Source: Celent
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