Insurance sector
The opportunities offered by digitalisation were not exploited by insurance companies for a long time. However, this has changed significantly over recent years. Just like in retail or banking, the digital transformation is rapidly changing the rules of the game in the insurance industry.
All of the decentral applications for sales (contact and schedule management, quotation software for life insurance, investment, health insurance and company pensions) should be migrated into the online world in a sales portal.
The problem:
The complexity of IT projects causes the digitalisation measures to not be completed within the allotted time and within budget. Budgets and schedules for all the IT projects conducted in the organisation were exceeded by around 20% on average.
The challenge:
all of the decentral applications for sales (contact and schedule management, quotation software for life insurance, investment, health insurance and company pensions) should be migrated into the online world in a sales portal. The complexity of the different applications can lead to an inadequate estimation of workload, capacity resource planning and scheduling of the migration for the individual components.
Solution:
The project management and implementation of the individual sub-projects are conducted according to industry standards such as Prince2.
Involvement was necessary in the following areas:
- Preparation of investment decision-making basis for the executive board
- Project and capacity planning for the corresponding investments
- Establishment of a team to implement the migration
- Establishment and design of a highly available hardware infrastructure
- Architecture and establishment of the sales portal for the financial advisors with personalisation
- Controlling of the QA department when creating the test concept
- Controlling of employees within IT operations during commissioning, as well as in the monitoring phase following commissioning
- Controlling of the training and creation of the training content for the sales employees regarding the new technological options
- Controlling of the training and creation of the training content for customer support
The result:
These applications were provided in an insurance portal within 12 months. It was possible to deliver the project on time and on cost using a standard project management methodology.
Following the results, the company decided to introduce the project management methodology for all projects.
