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Service Oriented Architecture - An Enabler for Insurers
Insurance companies are driven by increasing complexity in the business environment, coupled with the need to effectively process business, interact with customers and distribution channels and develop and deploy new products quickly. These challenges drive the importance of architecting business solutions that enable and encourage service reuse to achieve agility.
To ease these challenges, many major carriers are adopting Service Oriented Architecture (SOA). SOA carries huge potential for improving the flexibility and adaptability of organizations by accelerating the time to market for new applications and processes, driving down IT costs by making services reusable and building business processes to support change.
Our SOA methodology embodies a pragmatic and comprehensive approach to:
- Chart the most viable and effective SOA strategy
- Craft feasible funding models for associated initiatives
- Proactively determine success factors for its incremental roll out across sub-functions, functions and enterprise
- Institutionalize and meticulously drive governance
- Design models for gauging overall maturity in terms of asset utilization and value realization
Whether the principal driver for SOA initiatives is business agility, establishment of a unified platform for portfolio and systems integration, instituting a streamlined architecture for collaboration with business partners or generating innovative revenue streams by externalizing specific information delivery services, the fundamentals for charting effective SOA strategy and rolling managed execution models with consistent governance remain the same.
SOA is just one of our many Architecture Solution areas. Learn more about our full range of offerings.