Our cover story on business intelligence and its value to the insurance industry includes some interesting thoughts from a variety of sources. One of those sources (see “Turn It Around” on page 12) made an insightful point about BI and how its value can be traced to virtually every project a carrier undertakes.

John Lucker, a principal with Deloitte Consulting, addressed the importance of project managers sticking to the 80/20 rule. He believes scope creep is a major dilemma for carriers to contend with. With BI projects in particular—because of their depth and breadth—insurers can't afford to be distracted from the mission of the project. 

“I've been in project planning meetings and clients will say they understand the 80, but what about focusing on a small amount of the business,” says Lucker. “They end up focusing an inordinate amount of time on the 20 percent and completely lose track of the business value and the value of time in accomplishing the 80 percent sooner rather than later.”

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