It would seem the worst of the financial crises of the last year or so is over, but much of the turmoil they produced is not. The unemployment, foreclosure, and credit crises remain. The stock market has been able to regain some ground, but that statement is only as certain as last night's closing prices.

The reality is we are in a period of transition in many key areas, and change rarely is painless. From healthcare reform to airport security, there has been a mad dash to “do something” so no one can make the accusation nothing has been done. But this strategy is as sensible as buying a lottery ticket to secure a windfall.

The trick is to guide each area in transition so we wind up where we intend rather than where we are led by circumstance or politics. I admit the realities may not be in favor of such an approach. But let's at least ponder the possibilities.

Federal vs. state regulation. If the healthcare debate is any indicator, congressional intervention in the financial services will not bring any near-term clarity to the issues that precipitated the economy's decline (for more, see http://www.tech-decisions.com/Issues/2010/January-2010/Pages/PILING-ON.aspx ). I'd guess most people still don't understand whether they'll be better insured or not after the 2,000-page “something” Washington has been fighting over is enacted. If we can, let's avoid this chaos in the regulatory arena. Consumers and insurers should have a voice in regulatory change. And states need to be able to adjust proactively to adapt for the better.

Innovation. One of the greatest successes of the last decade is the assimilation of technology into the fabric of business. A positive sign is, in general, budgets are at worst staying flat (for more, see “Turn the Page”). However, requirements of the next decade may demand greater spending. As technology transitions to a necessity of daily living, insurers must keep stepping up to be relevant to both consumers and employees. They also must shift from a mindset of simply running the business to a mindset of growth
and transformation.

Leadership. This may be the biggest issue of all. Conferences and articles have all trodden on the topic of where future IT talent will come from. Perhaps an equally, if not more, pressing concern is where insurance IT leadership will come from. A good percentage of the guys at the top who have gone from the pre-Internet computing era to Web 2.0 are pushing retirement. Are there others in the ranks who will be able to navigate this fuzzy time of baby boomers and Gen X or Y or Z? Let's focus today on what we need our IT leaders to be 10 years from now and train them accordingly.

It's amazing how the dynamic has changed from whether technology is up to the capabilities of humans to whether humans are up to the capabilities of technology. Let's hope our IT leaders will be.