The Labours of Hercules: The Challenges Facing Insurance Enterprise Architects
Abstract
The role of enterprise architect is now quite common in insurers with complex technology structures. This report discusses five issues currently challenging enterprise architects across many insurers.
In a new report, The Labours of Hercules: The Challenges Facing Insurance Enterprise Architects, Celent presents five key issues currently challenging insurance enterprise architects. Each issue is addressed in its own chapter in the report, and some solutions are offered where appropriate.
“The enterprise architect is expected to be an expert not only in the issues facing the insurer but also the technology that could resolve them,” says Craig Beattie, Analyst with Celent’s Insurance Group and author of the report.
The five issues discussed are: advocating for technology investment, maximizing legacy investment, optimizing support platforms, leveraging emerging data centre models, and fostering productively disruptive technologies.
Although the report addresses these five issues in isolation, it is clear that the approaches are dependent on each other. A consistent approach to governing IT change, use of existing legacy systems, and adoption of new services and technologies is crucial to the effective use of technology and achieving strategic goals.
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 part of Marsh & McLennan Companies [NYSE: MMC].
Media Contacts
North America (New York)
Dana Greenstein
dgreenstein@celent.com
Tel.: +1 646 364 8254
Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)208 870 7875
Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81.3.3500.3023
Table of Contents
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Executive Summary |
3 |
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Introduction |
4 |
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Summary of the Issues |
5 |
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Framing the Challenge |
6 |
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How to Read the Proximity Diagram |
6 |
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Advocating for Technology Investment |
7 |
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The Role of the Enterprise Architect |
9 |
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Approaches to Achieving Investment |
10 |
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Maximizing Legacy Investment |
12 |
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What Is Legacy? |
12 |
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The Role of the Enterprise Architect |
12 |
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Approaches to Legacy Modernisation |
13 |
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Optimizing Support Platforms |
16 |
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Role of the Enterprise Architect |
16 |
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Approaches to Establishing a Platform |
17 |
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Leveraging Emerging Data Centre Models |
21 |
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Role of the Enterprise Architect |
22 |
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Approaches to Technology Outsourcing |
23 |
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Fostering Productively Disruptive Technologies |
25 |
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Role of the Enterprise Architect |
26 |
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Approaches to Dealing with Disruptive Technologies |
27 |
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Final Thoughts |
29 |
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Insurmountable Challenges? |
29 |
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New Challenges on the Horizon |
30 |
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A Consistent Approach |
30 |
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Leveraging Celent’s Expertise |
31 |
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Support for Financial Institutions |
31 |
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Support for Vendors |
31 |
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Related Celent Research |
32 |
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