Analyzing the efficiency and effectiveness of IT operations presents a tremendous challenge for most executives. We provide meaningful and relevant comparative data on IT expense and staff management that is not publicly available and cannot be replicated internally.
Actionable Data and Insights for IT
IT systems in the insurance industry continue to be heavily legacy-based. Many companies are facing massive technology initiatives while being challenged to both manage the associated costs and maintain efficient operations. More than ever, we hear company leaders asking:
- Are our IT expenses too high?
- What is the cost benefit for changing our IT systems?
- Are we staffed appropriately to be cost effective and efficient?
- Should we outsource any of our IT functions?
- What is the return on investment for our new systems implementations?
Proprietary software helps map each participant’s data into a common framework. In-person interviews ensure the integrity of the data source. Results compared to data from other participating companies provide meaningful and actionable apples-to-apples performance measurements.
Industry-Specific Comparisons to Measure Your IT Operations
Ward benchmarking solutions are specific to the insurance industry. Our IT benchmarking program delivers data that empowers you to:
- Assess IT resource levels, consulting, hardware and software expenses, and operating practices compared to the IT function at other insurance companies
- Analyze the level of capital expenditures and discretionary versus nondiscretionary spending
- Optimize the cost and effectiveness of the IT operation
- Evaluate system platforms and IT practices against other insurance companies to determine the consistency of IT investments and the results of those investments
A Structure Specific to Information Technology
We dive deep into your IT operations to deliver meaningful and actionable data. Our IT benchmarking program includes three level of analysis for a holistic perspective of IT performance across the organization.
Analysis of 21 Functional Levels
- Applications Architecture & Design
- Application Development
- Application Maintenance
- Quality Assurance / Testing
- Data Warehousing and Reporting
- Project Facilitation
- Business Analytics
- Scrum Master
- Project Management
- Infrastructure Architecture & Design
- Cloud Solutions IaaS / PaaS
- Network Administration
- Mainframe Support
- Server Support
- Database Administration
- Disaster Recovery
- Project Facilitation
- Desktop Support
- Help Desk
- Information Security
- Procurement / Outsource Management
- Financial Management
Analysis of Business Units Supported by IT
- Digital (Portals, Mobile, Internet)
- Personal Lines
- Commercial Lines
- Life Insurance
- Group Insurance
Survey Pricing, Access, and Support
Fees for Ward benchmarking programs vary based on company size, as well as the product and complexity of the organization.
All clients are assigned a dedicated relationship manager to provide benchmarking support during the data collection process. We provide a variety of expense and rewards advisory solution to assist clients with their financial, performance, and talent strategies.