(Zachary Gustafson is value consulting manager at Guidewire Software)
In order to make the dream of a new core system a reality, insurers must build a compelling business case that clearly illustrates the system's long-term benefits, value, and ROI. It should be convincing enough (and supported with evidence) so that the executive committee reviewing it revises its question from "Why would we invest this money?" to "Why wouldn't we?"
Consider the following key elements that are critical to the success of your business case. It is worth noting that, although this article is geared specifically to the insurance industry, the underpinning ideas can be applied to any market.
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