About Eric Weisburg

Eric Weisburg is a Vice President of Research and Consulting at Novarica with expertise in insurance technology, operations, and finance. He has over 20 years of insurance experience in industry, consulting and software. For the past several years he has been helping clients understand and implement cognitive, analytics and information solutions. His experience spans most lines, channels and horizontal functions.

Simple, Meaningful KPIs Crucial to Communicate IT Value

Insurance IT leaders benefit from the use of simple, meaningful metrics to communicate the value of technology investments to business peers. Without a clearly articulated and commonly accepted set of business value metrics for IT, it can be a challenge for carrier IT leaders to create compelling business cases for new investment or receive credit…

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Insights from the Novarica Commercial Lines Special Interest Group Meeting

Last week I had the opportunity to participate in the Commercial Lines Special Interest Group meeting in Jersey City, NJ. Despite a wintery mix impacting transportation, we were joined by six carrier participants to discuss their successes, challenges, and unique perspectives on commercial lines and the industry at large. After spending some time getting to…

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Introducing an IT Financial Management Maturity Model

As one of the largest and most intangible expense areas for insurers, IT departments often have difficulty demonstrating the value of their expenditures. The practice of IT Financial Management (ITFM) is the best way for insurer CIOs to manage, optimize, and communicate the value of these costs, however, this practice is immature at many insurance…

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Favorable Outlook for Commercial Lines in 2018

For the first time in seven years, A.M. Best has boosted its outlook for U.S. commercial lines from negative to stable for 2018. A.M. Best attributed the improved outlook to the industry’s increased sophistication in pricing and underwriting infrastructure, despite challenging macroeconomic factors. In support of continued technology investments, A.M. Best cited the segment adopting…

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What is Your IT Expense? The Answer May Surprise You

It is important for CIOs to understand how different accounting practices impact and change the picture that the CFO sees when first looking at the IT budget as part of the planning cycle. Insurers use generally accepted accounting principles (GAAP) when reporting to investors and statutory accounting when reporting to state insurance commissioners. The former…

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Climate Change and Catastrophe Insurance

There is a debate raging across our industry whether climate change will make catastrophe-prone risks uninsurable. Munich Re, which incurred a $1.63 billion loss from Hurricanes Harvey, Irma, and Maria, believes that there will come a time where catastrophe coverage will be unaffordable. On the other side of the debate is Warren Buffet who anticipates…

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Key Considerations for Nurturing Strong Partnerships with Insurer CFOs

The CIO-CFO relationship is imperative for achieving IT’s objectives. Given that the CFO has direct control over the CIO’s department budget, insufficient or weakened communication between IT and finance can negatively impact the CIO’s ability to follow through on existing projects and goals. Additionally, as one of the foremost senior executives, the CFO can have…

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Clamoring for Credit Cards in Commercial Lines

Across the insurance industry, carriers are looking for meaningful ways to improve client retention, reward their best policyholders, and improve customer experience. Many of our P&C clients wrestle with whether to provide their small commercial clients with the ability to pay by credit card. As the business evolves to more closely resemble personal lines with…

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