Scyllogis are committed to keeping ourselves at the forefront of technology developments to ensure consistent delivery of business objectives within the Insurance and Reinsurance sectors.
To do this we regularly contribute to the discussion and debate of important industry issues, and publish white papers and articles in the trade press. Additionally through our website Blog we now aim to further these discussions by continuing to add our perspective and opinions to those of the global Insurance community....
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Wednesday, 17 October 2007 |
The 2008 budgeting season is upon us, here a few pitfalls to avoid when setting the IT budget!
The CIO serves many masters, so it's little wonder that budgeting for IT has many pitfalls. Here are four common pitfalls to avoid during this 2008 budget season.
Pitfall No. 1: Not understanding the company's strategic goals.
CIOs, having reached a certain level in their companies, know how to budget within their own departments. The trick is working at a higher level, which may or may not be facilitated by your organization's structure. Even if you are not involved in corporate goal-setting, you have to make it your job to understand those goals. What are the key initiatives for the coming fiscal year? How will corporate goals be met short term and long term? What role does IT play in the process?
Sadly, many companies plan key strategic initiatives without consulting IT, thereby making decisions without understanding the total, true cost and return of the project. But as the CIO, you know well the implications on your budget. You need additional hardware, software and/or people to support new initiatives.
The bottom line for avoiding this pitfall is to get access to the highest-level corporate planners. If you're not on the executive committee, make sure you have access to someone who is.
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Last Updated ( Tuesday, 06 November 2007 )
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Tuesday, 09 October 2007 |
Someone recently sent me the attached link click here and I thought this was interesting as it shows how technology can impact insurance and our lives in general. The particular article is about a service offered whereby teenaged drivers' behaviour can be monitored and their parents notified when they exceed agreed speed limits etc. The next step would seem to be to start charging based on this behaviour (a form of pay as you drive insurance perhaps) or to use predictive analytics to tell when behaviour is potentially risky.
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Last Updated ( Tuesday, 06 November 2007 )
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Tuesday, 09 October 2007 |
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A changing industry is driving the transformation of the finance function within insurance companies and financial services in general, as companies seek to cut operating costs and improve revenue in an effort to achieve greater profitability and return on equity. But the proximate drivers of and key tools to achieve that transformation are technology related, according to a recent BearingPoint study.
The US based consultancy conducted a 2006 survey in collaboration with IDC across various industries and geographies of 153 CFOs, approximately 25 percent of whom represented financial services companies. In 2007 BearingPoint separately surveyed 30 financial services CFOs.
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Last Updated ( Tuesday, 06 November 2007 )
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Tuesday, 09 October 2007 |
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Recently I received an e-mail invite to a webinar, "SOA & the Insurance Industry: Voice of the Experts." The event was organized by InfoWorld, and included speakers from the TowerGroup, BEA, and Zurich Financial Services. Naturally, my interest was aroused.
I watched the webinar, and there was a lot of good information. I noticed there was someone missing from the discussion. I have been working in the insurance industry for twenty-two years, and the biggest challenge has been involving business users. We do not hear enough from the business user.
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Last Updated ( Tuesday, 06 November 2007 )
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Tuesday, 09 October 2007 |
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I have recently been told that almost all the technology RFPs going out have at least one question regarding support for SOA. I have also seen an opinion that most, if not all, policy administration system vendors in the US list SOA compliance as a feature of their systems, which is interesting because I am not aware that any UK based vendor would claim the same thing. In the US though, both carriers and policy administration vendors are locked in this dance, a dance that we've done before.
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Last Updated ( Wednesday, 14 January 2009 )
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