INSURANCE SYSTEM DEVELOPMENT CRISIS? AVERTED.

SITUATION

Wall Street operates on a New York minute. When a major Wall Street commercial insurance company found itself hamstrung while a $17 million underwriting automation application was under development, the IT team needed help. Having failed on multiple occasions to complete the design phase, the company saw costs triple and deadlines overrun.

THE SYNAPTIC SHIFT

Capto was engaged to evaluate the project, recommend a turnaround strategy, and monitor–correct progress with the goals of shortening development time frames and reducing overall project costs. Resolution came in two forms: (1) empowering a project sponsor to expedite decisions across the organization and (2) restructuring the system to include an engine that allows for flexible definition and modification of business rules, thus enabling the firm to proceed with business rules definition on a parallel track with technical development efforts. In addition, the project team had numerous issues with the Scrum process, particularly in integrating onshore and offshore teams. Reorganizing the project team, improving the Scrum process, and repartitioning the work plan resulted in shorter delivery times, lower costs, and increased quality.

RESULTS

• Cut project delays, staffing, and cost overruns by two-thirds
• Saved our client over $10 million
• Incrementally delivered critical system features on time