Head of the Class

A Few Years AGO, when the "Does IT Matter?" debate about the strategic importance of information technology was raging, it seemed that the role of the senior technology executive -- the CIO and numerous variations on that title -- was likely to become less important, or at least more narrow in scope. However, if what has transpired in the insurance industry is any indication, that hasn't turned out to be the case. If anything, CIOs are playing a more important role than ever in insurance organizations of all sizes.

It's not that there has been a return to the typical arrangement of the '70s, '80s and even '90s, when the CIO presided over a remote, data center-based empire that no one (including the CEO) dared challenge (or could understand, for that matter). Rather, today's CIO is leading an IT organization that is a true partner to, and driver of, the business. Yes, efficiency, economy and reliability still are the watchwords of many insurance technology initiatives. But technology's role in enabling a wide range of business imperatives -- from customer and agent retention to regulatory compliance to accurate claims processing and more -- no longer is just a matter of wishful thinking. Thanks to a growing force of business-savvy, creative and results-oriented IT leaders, it's becoming business as usual.

That's not to say that successful IT leaders are a dime a dozen in insurance. Far from it, which brings us to this year's Elite 8 honorees. The eight distinguished executives whom I&T profiles in this annual special issue -- now in its eighth year -- are exceptional in every way. Despite different backgrounds, organizations and areas of focus, all the Elite 8 2006 executives have succeeded in executing on IT's promise, and are playing critical and visible roles in their companies' successes.

In addition to in-depth reports on how this year's Elite 8 honorees operate (more insights are offered in a series of Elite 8 podcasts, available at www.insurancetech. com/podcasts), this special issue also looks across the industry -- to previous Elite 8 honorees, prominent analysts, and consultants and trade group officials -- to examine how the CIO's role is changing in insurance. This transformation encompasses not only evolving job descriptions, but also different kinds of qualifications for the job, as well as a whole new set of challenges and goals. The 2006 Elite 8 executives are among those leading the charge.

Katherine Burger is Editorial Director of Bank Systems & Technology and Insurance & Technology, members of UBM TechWeb's InformationWeek Financial Services. She assumed leadership of Bank Systems & Technology in 2003 and of Insurance & Technology in 1991. In addition to ... View Full Bio