The famous German statesman, Otto von Bismark, is credited with saying “Politics is the art of the possible.” So too goes technology, particularly in insurance. Lots of things are theoretically possible to do with insurance information systems, if there are no constraints on resources. Insurance CIOs are never in that position. In fact, they are in the opposite corner, struggling to maintain legacy systems and still squeeze out some budget for technological innovations that will delight customers and employees. For them, developing new innovations is “the art of the possible.” In practice, not much can get accomplished, which is why so many insurers find themselves technologically behind.
That state of affairs is being upended as will be demonstrated at next week’s Appian World conference.