Every day, 10,000 workers in the United States retire. That reality is upon the insurance industry, as current insurance CIOs are faced with supporting functional but aging systems using skill sets that are largely resident in a labor cohort that is rapidly maturing. In its report, “Planning for an Aging IT Workforce,” Novarica identifies the impact on IT and the business, including newer systems that were built with aging client/server or Web-oriented technologies that carry great risk of adverse impact on daily operations and IT staffs that are on average less tenured than their business unit counterparts, leading to knowledge management issues.
To mitigate the impact of this change, the report lists steps in three areas: processes, people and structure, that carriers can take today to preserve intellectual property, maintain or improve competitive positioning and minimize organizational and operational risk associated with the aging IT workforce.
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