Enterprise governance of information technology: An application in the insurance sector

The way businesses manage information technologies is a strategic priority in achieving sustainable growth, high performance and return on investment. IT corporate governance aims to improve the structure, process and relational mechanisms used by the business with the aim of adding value to the business and balancing risks. The insurance sector in particular needs solid IT corporate governance to ensure compliance, manage risk and maintain the security of sensitive customer data. In this context, the main purpose of the study is to evaluate the information technology corporate governance system (EGIT) in the insurance sector based on design and implementation-based critical success factors. For this purpose, a holistic understanding has been developed on how IT corporate governance is implemented in insurance companies, well-managed basic process focus areas and what the important critical success factors are. The development of such an understanding has added an important dimension to the determination of effective IT corporate governance mechanisms in the insurance sector and to the improvement of the IT corporate governance practices of businesses. The study, using a qualitative analysis method, and the resulting analyses demonstrate the importance of a governance culture based on open communication, accountability, and transparency for information technology corporate governance. The results obtained represent the important critical factors supporting the implementation of IT corporate governance in the insurance industry and the most important processes in governance objectives.