But think about your overall IT And Business Strategy
We present the SurePower Innovation Policy Administration Suite as your strategic choice for business success. What do we mean by that? Isn't it more strategic to keep your options open by contracting with different vendors for each major component of your technology and operations?
We think that was true up until about 2004 or 2005. At that time technologies such as SOA and the Web changed the nature of systems so that you could quickly configure a product or a workflow or change a rate in a fraction of the time it previously took. You could make an upgrade to a modern system and leverage automated functional and regression testing to bring a system new features and capabilities that would have required a complete system change or months of testing on the older technology.
Multiple Vendors, Restricted Advancement
While some argued that SOA and the new technologies made a best-of-breed approach more manageable and attractive, what we see in the field is that best-of-breed approaches greatly reduce business agility. A large part of the costs of multiple vendors is hidden in cost of your time to manage relationships and identify accountability. Time lost is time taken from acting on business opportunities.
Each added vendor also introduces a different product roadmap and upgrade plan. As the speed of technology change increases, the chance that multiple vendors keep in synch falls. If one vendor doesn't upgrade to the version of a shared component
another needs, you are held back by this weakest link. The ideal of a vendor partnership in which you drive the direction of your system vendors' R&D instead becomes a project in consensus making.
Point solution vendors have also expanded their products into more areas that overlap with other point solutions and have started to look like they heading toward being enterprise solutions themselves. Redundant workflow generators, rules engines, document management, and so on may justify increasing license fees, but if you already have one, do you need another?
And did we mention ongoing integration costs?
Future Business Value will be Enterprise-driven
Last decade's "feature gap" between enterprise systems and "best-of-breed" components has closed. Enterprise systems actually now have the advantage because they can make enhancements across the company and are not bound by the limits of a point solution. These global benefits will be where the new business value is generated by systems in the coming decade, for example, how a piece of data can be "actionable" in claims, even though it was "created" in underwriting, and so on.
The winners will be systems that have a common data model and powerful workflows and rules capabilities that cross traditional "module" lines.
Your Overall IT & Business Strategy
Where do you want your IT and business strategy to have taken you to a year from now? What capabilities will you need? Who can deliver them? We think SurePower Innovation presents a compelling choice for many insurers. We have a clear mission to be a primary driver of our clients' success and a clear vision how we will create that value out of the enterprise.