Insurers expanding investment in enterprise architecture in 2019
 /  Article / Insurers expanding investment in enterprise architecture in 2019
Insurers expanding investment in enterprise architecture in 2019

Insurers expanding investment in enterprise architecture in 2019

A solid enterprise architectural foundation is critical as the insurance industry continues to evolve. With the growing adoption of Agile and cloud, the importance of balancing architecture best practices with the challenges of decentralized decision-making has never been higher.

A strong architecture governance function is needed to ensure that each project is consistent with the overall technology direction of the organization and aligned with the business strategy. Each technology project is a piece of a larger puzzle of interacting technologies, processes, and steps leading to a desired business capability end state. With the growing adoption of Agile and cloud, the importance of balancing architecture best practices with the challenges of decentralized decision-making has never been higher.

“It has become important to develop a ‘test-and-learn’ culture for architecture where a proposed solution, expected benefits, implementation complexity, and technical feasibility are evaluated,” said Mitch Wein, senior vice president of Research and Consulting, and co-author of the Novarica brief, Enterprise Architecture: Expansion and Key Issues.

“It is desirable to ‘fail fast’, that is, to prioritize work activities with the goal of discovering potential problems as early as possible in the process, minimizing schedule risk and cost.”

Author: Fintech Innovation

Source: enterpriseinnovation.net

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