The insurance industry is grappling with the realization that to succeed in today's diverse and dynamic marketplace, existing business practices must be revisited and in some cases dramatically reworked to enable consistent business process change that is sustainable, incremental, and measurable from a return-on-investment and a return-on-equity perspective.

Moreover, success today often hinges on information technology's ability to be flexible and responsive to ever-changing business requirements dictated by the marketplace.

While it seems intuitive that business and IT would form a strong working partnership, in most cases, the relationship between them has not been formalized with clear expectations of each other throughout the corporation.

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