News and opinion | Georgina | 4 April 2022
In Right First Time we explore how assuring successful change management and best practice is crucial in insurance transformational programmes. Dynamic software applications allow insurers to transact policies and enable digital platforms more effectively than ever before. However, implementation is not merely a matter of getting it done, but of getting it done right the first time, every time.
Best Practices are the methods, techniques, processes, and tools which the programme has found to produce the highest quality results or enable standardised ways of working.
Our Best Practice top 10 highlights just how useful Best Practices are:
1. Best Practices are the best
Best Practices allow programme participants to utilise the best way of undertaking an activity without having to create a method from scratch.
2. Best Practices enable standardisation
Best Practice provides for standardisation. When an activity is routinely done, where a standard approach is used, everyone involved knows what to expect and what techniques will prove successful.
Best Practices are most powerful when formulated collaboratively by programme participants, ensuring ‘buy-in’ and compliance.
What works on one project, might not work on another. Best Practices are best when specific to the project at hand.
5. Best Practice saves time
Instead of having to create a new way of solving a problem, someone may have already done so and stored that solution in Best Practice.
6. Best Practices are essential
Best Practices may include regulatory or legal essentials with which the programme or the software under development must be complied with.
7. Best Practice aids governance
Best Practices allow governance to check that how activities are being done match the approaches decided upon and stored in Best Practice documentation.
8. Best Practice is reflective
Where Best Practices are created by those participating in the programme, they reflect their experiences and decisions.
Best Practice documentation is centrally stored and accessible by everyone working on the programme.
10. Best Practice changes
As a project progresses, better ways of doing things emerge. As new or amended Best Practices arise, they can be adopted by all programme participants.
How Solution Assurance helps
Solution Assurance is a vital third-party service that assists customers to install and develop effective enterprise insurance software solutions.
Best Practices are routinely used in insurance transformational programmes. Solution Assurance assists programmes in instating Best Practices and helps participants comply with them.