Industry Standards Can Help Insurers Hedge Their Bets With IT Investments
The past year reminds me of “A Tale of Two Cities” by Charles Dickens and the opening sentence that begins: “It was the best of times, it was the worst of times.” While profit margins are being squeezed and information technology budgets have been hammered, we all can appreciate the fact that we can do so much more with so much less today than in recent memory.
IT has also become an inextricable part of the fabric of our business, but the IT budget is viewed as a cost rather than the investment it is. And many executives who pride themselves on their financial genius often fail miserably when it comes to IT investments because they do not see the hidden balance sheet that lies beneath.
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