Welcome to our ninth edition of Four For the Week (44TW)! To look through past editions, feel free to view our blog. This week we are sharing with you an insightful article on why leaders communications often fail to connect from Forbes, huge estimated decreases in IT spending by Gartner, followed preparations for hurricane season. Finally, we close it out with an interesting piece on virtual claims as the future of core processing technology . Enjoy!
Strategy & Innovation
Denis Connolly, VP, Corporate Development
Even though most leaders believe they are genuine, work hard on their communications and use every conceivable means to communicate, some struggle to do more than transmit information, try as they may to connect and inform. Often leaders expend great energy, time, and invest in resources to help them sculpt, wordsmith, and stylize their messages only to be frustrated when the intended message is distorted or rejected outright. A major cause of communication problems is not what the leader says or how they say it, rather it’s too much focus on content, platform, and devices and too little on the audience. Here’s a few things leaders can do to increase the possibility of connecting which will make their communication efforts more effective, immediately.
Technology & Connectedness
Another week brings another clear sign that CIOs are making deep budget cuts in response to the COVID-19 pandemic. In a new report, research firm Gartner says it thinks global tech spending will drop 8% in 2020 based on what it is hearing from tech suppliers and other sources. It’s forecasting that $3.46 trillion will be spent on IT products and services this year by businesses and consumers, down from $3.76 trillion in 2019
Technology & Preparedness
We are officially underway for hurricane season. Every year, many of you execute on your detailed preparations to ensure you can service your customers through the claims process, and more importantly through mitigation and remediation. This year however, there seems to be a perfect storm brewing. The forecasted storm activity this year is greater than the past couple of years. This hurricane season will be a great test to this new way of working. And perhaps may lead to more permanent change in how we work
Strategy & Innovation
Ven Shanmugam, President & COO
In our past editions, we’ve spoken about some of the technology shift in a post-pandemic world. Many have implemented plans to operate with remote offices. One technology that has been gaining traction over the past few years is virtual claims processing. This pandemic has perhaps only accelerated the need for such technology