Customer Story - Transforming Insurance: A Comprehensive Digital Overhaul
A mutual life insurance company has embarked on the largest digital transformation in the history of their company. Recognizing gaps and immaturity in their program delivery capabilities, they sought help to ensure the success of this extensive initiative.
Call For Help:
- The business was constrained by an aging technology stack, which had begun to limit their operations and highlighted significant capability gaps.
- Failed upgrades and replacement projects left the technical environment vulnerable.
- Additionally, the company had fallen behind in delivery practices and lacked a scalable delivery organization.
FarWell Support:
- FarWell advisors are currently providing comprehensive support across delivery and change management, filling key roles such as program management, project management, delivery management, product ownership, scrum masters, agile coaching, change leadership and execution.
- As FarWell was involved since the start of the project, the team of advisors was able to customize a program management approach and a change management strategy for the client, driving towards a successful execution.
Results:
Although the program is just under halfway through its projected three-year delivery horizon, significant outcomes have already been achieved.
- In the first year, foundational initiatives were successfully completed, including three system upgrades and four implementations of new technology-based capabilities. One of these upgrades had been six years in the making with multiple failed attempts.
- A Scaled Agile framework was implemented to deliver the transformation program, complete with Agile coaching for employees.
- A change readiness and adoption strategy was created, and readiness preparation is underway.
- FarWell advisors developed a strategic prioritization framework, and project prioritization and delivery standards were implemented.
- The company is currently on pace to successfully deliver this once-in-a-generation digital transformation, positioning them to achieve their goals.
