But adopting Agile means managing financial, organizational, and cultural challenges: Novarica
Boston, MA (Jan. 31, 2019) – Despite the almost ubiquitous use and relative maturity of Agile in the insurance industry, insurers continue to struggle with financial, organizational, and cultural issues that prevent their Agile adoption from leading to true transformation. In a new brief, Agile in Insurance: Expansion and Key Issues, research and advisory firm Novarica discusses the current state of Agile, including its investment and expansion, best practices and benefits, and notable challenges.
“Despite Agile being well-established across the industry, the rate of expansion shows no signs of slowing in 2019,” said Ken Toffolo, Vice President of Research and Consulting, and co-author of Novarica’s new report. “Expected growth rates in 2019 remains consistent with 2018 levels, and expectations among midsized property/casualty carriers have actually increased from 52% to 60%. Solid and steady growth suggests that Agile is working for carriers-it’s not often that carriers move back to Waterfall once Agile gets a foothold.”
A preview of the brief is available online.
Carriers across the insurance industry continue to invest in Agile capabilities. Agile adoption can lead to improved software quality, better collaboration between business and IT, lower cost and risk, and increased customer satisfaction. To invest in Agile, carriers are scaling frameworks like SAFe, using product management discipline, and expanding Agile principles into IT operations through DevOps. Yet despite the almost ubiquitous use and relative maturity of Agile in the industry, carriers continue to struggle with financial, organizational, and cultural issues that prevent their Agile adoption from leading to true transformation.
Click here for the table of contents or to access the report.
Novarica helps more than 100 insurers make better decisions about technology projects and strategy through retained advisory services, published research, and strategy consulting. Its knowledge base covers trends, benchmarks, best practices, case studies, and vendor solutions. Leveraging the expertise of its senior team and of more than 300 CIO Research Council members, Novarica provides clients with the ability to make faster, better, more informed decisions. Its consulting services focus on vendor selection, custom benchmarking, project checkpoints, and IT strategy. For more information, visit www.novarica.com.
Source: NovaricaTags: Agile methodology (agility), Novarica