Technology review and target state

Challenge

A rapidly growing leading digital insurer operating across several geographies sought an external technology review to address two strategic questions:

1.How can technology and data become a future source of competitive advantage, and what strategic choices must be made?

2.What should be the target operating model for technology to achieve cost reductions aligned with industry benchmarks?

Solution

I worked closely with the CEO, founder, and management team to assess the current state of technology, identify key gaps and competitive strengths, design a target IT architecture, and address a critical strategic decision—whether to continue developing the in-house policy admin platform or migrate to an industrial solution. In addition, I defined the optimal target operating model and identified cost-reduction opportunities to meet the tech spend targets.

Key deliverables included

1.Comprehensive technology assessment across six dimensions: business alignment, operating model, performance management, application architecture, IT infrastructure, and data management

2.IT application architecture review, including gap analysis

3.Recommendation on the target policy administration platform

4.Target IT application architecture and improvement initiatives

5.Operating model assessment across four dimensions: governance, organization, processes, and tools

6.Data management capabilities review and improvement opportunities

7.Technology spend assessment and identification of cost-reduction levers

The project followed my proprietary Digital Strategy Playbook, leveraging established methodologies and analytical frameworks. I conducted a series of interviews with all members of the management team, followed by thematic workshops with the CTO, CDTO, Head of Products and engineering team.

Impact

The Board of Directors approved the target state and the strategic decision regarding the policy administration platform. The migration to the new platform is nearly complete and has progressed smoothly. A dedicated data function is now fully operational, organizational changes have been implemented to support strategy execution, and the company is well on track to achieve its cost targets.