NU Online News Service, May 28, 10:15 a.m. EDT

LAS VEGAS--Going forward, the typical information technology employee at an insurer will need to be a "renaissance person" who incorporates insurance business knowledge into his/her skill set, one industry IT executive advised.

During a panel discussion at the ACORD/LOMA Insurance Systems Forum here this week, John DiBuduo, senior vice president at Partner Re U.S., said IT employees will need to understand how business processes work within their companies and understand how technology moves those processes.

By understanding how and why data moves through an insurer, Mr. DiBuduo explained, IT can work with others in the business to change those processes and make them more efficient.

He said the role of the "deep technologist" with a narrow focus will likely not exist within insurance companies in the future. Such a role, he said, will likely be outsourced.

Jim Pedersen, senior vice president and chief information and operations officer at Fireman's Fund, added that companies need to embrace industry standards, and he envisioned insurance organizations' IT departments containing a broader set of skills among fewer employees.

Developing business knowledge, Mr. DiBuduo said, is also important for advancement within an insurance company.

Fostering business knowledge within IT is partly the responsibility of the company, he said, noting that companies that hire good tech employees must engage them and empower them to learn the business.

This, he noted, will help companies retain their talent. By empowering IT workers to learn, he explained, the employees develop "emotional capital" in the organization and are less likely to leave.

Mr. DiBuduo said IT at his company is already managing process changes. IT has changed, he said, from a pure technology role to a partnership with the rest of the business that is helping to drive change within the organization.

Mr. DiBuduo said he has seen the interaction between business and IT evolve from a widespread demand wish list issued by the business side to a more focused effort concentrated on where a company can build value.

Mr. Pedersen said the goal for insurers is to not draw lines separating IT and business. They are all one, he explained.

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