Recently, CIO Advocate, Frank Petersmark with X by 2, a technology consulting group that specializes in the strategy and architecture of enterprise applications and integration, shared with me the questions that IT and business professionals need to hammer out before an underwriting overhaul: "If it's five years from now and this is finished, what will success look like? What processes will be different? What will be different about our position in the marketplace? What will be different about our expense model?" It seems so simple, yet he quickly went on to lament, "That can be a very tough exercise to go through, but it's really valuable. Fundamentally, that's where you have to start."
Despite the amount of time and energy already being expended on bridging the IT and business gap, I'm surprised that nearly everyone I talk to about the future of underwriting still stresses the importance of owning up to the challenges of this relationship. With all of the exciting, promising potential, what challenges companies and consultants alike is planning for it.
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