Insurance firms that lack a cohesive vision and strategy across their entire enterprise are failing to take advantage of the bounty of newfound technological options available to them and are limiting their capacity for differentiation and growth.This message, highlighted in the report "Business Architecture: Aligning Process, Content and Data to Enhance Profitability" by TowerGroup, a Needham, Mass.-based research and consulting firm, serves as a clarion call for insurers to embrace enterprisewide initiatives now or else cede an important competitive advantage.
The insurers that will survive this competitive environment are those that leverage technology to advance their business and operations, writes Cynthia Saccocia, author of the report and research director of TowerGroup's insurance practice.
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