In order to be successful in today's insurance landscape, insurer CIOs need a strong architecture to ensure that tech projects are consistent with the company's overall direction.
Architecture governance is in direct conflict with project management, according to a recent Novarica report "Architecture Governance: a CIO checklist." The project manager builds technology solutions in the shortest possible time, for the lowest cost. But this may not be ideal for creating long-term business functions that deliver strategic business capability.
"Enterprise architecture is about taking a holistic view of risk, avoiding long-term unforeseen consequences, and making informed decisions to manage total company risk to within pre-defined appetites," writes Mitch Wein, principal in the insurance practice at Novarica, and one of the report authors, along with Steven Kaye, research and knowledge systems manager.
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