Gregory Maciag: Data Strategy and the Insurer Board

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Saturday, 01 August 2015

Data Strategy and the Insurer Board

Majesco's John Johansen writes well on why data strategy is a board level issue. He breaks his argument into three areas: downside risk, opportunity risk, and upside risk. This is a great way of approaching the strategic importance of data.

Johansen's downside risks are those most commonly called cyber threats. His opportunity risks are issues related with failing to exploit IT and/or being displaced by a disruptive competitor. The upside risks are related to being a data-driven organization. IIR

Posted on Saturday, 01 August 2015 | Permalink

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My latest book presents the challenges members face when adopting industry standards as well as the opportunities that come as a result. It features my discussions with many people over many years and follows the foundation I set in my first book "The Business Information Revolution".

Industry standards are never adopted in a vacuum. They become part and parcel of all the trials and tribulations managers face in their day to day work. ACORD Standards are always part of a larger software development project that brings along people, priorities and politics. Adopting industry standards isn't simple, but the benefits far outweigh the problems of building and maintaining proprietary alternatives.

I trust that you will appreciate my frankness, identify with some of the challenges and learn from what others have done to pave the way.

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This is a PDF version of my book. You have my permission to view, save and print copies for your personal use. Use your browser "Back" button to return to the blog after you visit or print a chapter. If you want a clean copy, it's available at the Amazon bookstore.