Platform evaluation and Target Architecture development for Insurance Company

Developing the Target Architecture and Business Case for an Australian Insurer with a diverse set of insurance products spanning Personal & Commercial lines & Workers Compensation schemes

The Challenge

The client was seeking ways to increase the speed and efficiency in its ability to introduce change to the business and the technology that supports it. This is particularly important to be cost competitive for this insurance company that supports a wide range of clients and a diverse portfolio of products and channels in market.

Our Work

Frazer Walker’s consulting services were used to identify current state issues and risks and the client’s vision and needs for its future technology environment.

FW then worked with the client’s team to design a future state target architecture addressing the limitations and achieving the vision and benefits identified.

The final target state architecture was based around six substantive architectural areas:

• Operations
• Core insurance
• Data
• Customer Experience (digital)
• Integration
• Customer management

The Outcome

FW developed a target state architecture document and roadmap to achieve the future state, along with an executive presentation:

• Target architecture – this described the business drivers the architecture must respond to, recommended architectural guiding principles, and changes in capabilities that the client needs to implement, support, and capitalise on the architecture.
• Implementation roadmap – this described options for achieving the target architecture; recommended approach and sequence; indicative budget implications; and next steps.

These were socialised and agreed with the sponsor and key executives as the target state architecture evolved, with the Business Case being presented to the Board.

The target state architecture and report included recommendations for the client to adopt better ways of working to improve the relationship between the technology team and the business. This would result in improved implementation of the insurance product architecture, allow data to be used as a strategic asset, and provide greater governance and controls around architectural decisions.

Managing data as an asset involves a combination of changes in the technology used to store and support the use of data, with a strong commitment to governance of that data to ensure the quality is maintained and the data can be leveraged to full effect.

Contact

For more information please contact Ian Chisholm, Phone: +61 401 316 004, Email: ian.chisholm@frazerwalker.com