In the real world, insurance transformation is nothing like fun and games – especially when it goes wrong. Those embarking on (much needed) upgrades must think about including an assurance partner to see them through their journey to the other side.
Total Cost of Ownership can make or break a project for insurers’ transformation. Delays and unexpected costs can completely derail a project.
Technical debt is a ‘gotcha’ that, in some cases, can be prevented with the guidance of an experience solution assurance partner.
Intentional and unintentional technical debt are two very different types of tech debt, which are accrued for different reasons. Intentional tech debt can actually be part of a business strategy and have short-term benefits. Unintentional technical debt can be inevitable and also built into the business strategy with proper planning.
Technical debt can be measured and managed. With the right approach, insurers can regain control and refocus their technology resources on creating value for customers and the business. Addressing debt and refactoring after a project has concluded is an option – and a common one.
