New Novarica Agile Maturity Model for Insurers provides a framework to assess capabilities and prioritize investments
Boston, MA (Jan. 7, 2020) – Agile adoption for IT initiatives has grown significantly in the last few years across multiple industries. Insurers are choosing to organize their IT value delivery around supporting products rather than delivering projects to improve alignment between IT and business. In its latest report, Novarica Agile Maturity Model for Insurers, research and advisory firm Novarica introduces a new capabilities model for product management, organizational changes to support Agile, and addressing key challenges.
“The transition to an Agile delivery approach has implications for traditional functional organization alignment,” said Martin Higgins, Vice President of Research and Consulting and co-author of Novarica’s new report. “Novarica’s new model defines stages of maturity in a wide range of areas affected by this transition. As insurers adapt their organizations and practices to take full advantage of Agile development, they are able to speed development and improve quality through closer alignment with business objectives.”
The Novarica Agile Maturity Model for Insurers (NAMMI) covers product alignment, PMO, product management, organization, funding, metrics, culture, innovation, and exceptions. It’s designed to help insurers evaluate their capabilities and prioritize areas of focus.
Click here for the table of contents or to access the report.
Report Summary
Advanced Agile has financial, organizational, and cultural implications that can reshape the entire organization. This includes a flattening of hierarchies, new budgeting processes, and a shifting role for the PMO.
Following trends outside the industry, a growing number of insurers are choosing to organize their IT value delivery around supporting products rather than delivering projects to improve alignment between IT and business. Some insurers have moved their product teams into the business rather than using the more traditional centralized IT service model.
This report introduces the Novarica Agile Maturity Model for Insurers (NAMMI), which enables carriers to identify where they currently are on their Agile journey, their Agile destination, and the gaps in between.
Click here for the table of contents or to access the report.
About Novarica
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 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: Novarica
Tags: Agile methodology (agility), IT, Novarica, trends