Case Study

Case Study: IT Strategy/Transformation for  Insurance Software Leader

Business Challenge

Executives of market leading software company knew that they wanted to upgrade their software architecture, but they did not realize that the new architecture could transform the company in surprising ways.

Role

Engagement Manager, working for Chief Technology Officer. Advised executive team on transitioning software product line from proprietary, mainframe-based architecture to open, web-ready, Object Oriented Technology architecture.

Rollout

The company had had a COBOL-based, feature rich product with an 18 month life cycle for the past ten years. The CTO’s team was implementing a Java architecture in a UNIX/Linux environment, which was to lead to a continuous, innovation development environment that would enable the company to transform how it created value for clients. In addition, they built a data center to deliver an ASP version of the product. To capitalize on the technology financially, the company had to transform its core processes, including corporate strategy, customer service, marketing and professional services.  Built strategy platform for transformation by researching industry trends and showing the market demand for the capabilities that the new architecture would deliver. Researched insurance trends for Internet-based transactions as well as customer reactions to major technology initiatives. Delivered results in very compressed time frame. Consulted to executive team on using findings to generate enthusiasm within organization to mobilize for major change.

Created strategic framework for transforming client relationships, impacting marketing, development, customer service and professional services functions. Introduced several new profit opportunities. Tactically, designed engagement to leverage highest-quality available research on client’s segment of banking software, procured research and used for industry background, minimizing duplication of original research and reducing time to delivery. Conducted literature survey, produced analytical presentation, and created various knowledge products to communicate findings through client organization.

Results

• Attained broad support for paradigm shift by involving majority of functions and departments in information gathering and interpretation.
• Moved the executive team “a year ahead in its thinking,” enabling the company to significantly enhance its market leadership.
• Created knowledge opportunity through which the company could leverage its learning process by offering “transformation knowledge” to clients.
• Enabled management to be proactive in educating strategic partners and customer base on opportunities gained by change in technology profile.
• Executives’ understanding of the new value proposition contributed to a tripling of the stock price during the period.