Insurance providers strive to meet global customers’ diverse and constantly changing demands of while complying with an evolving regulatory environment with insurance provider software. This requires an extensive portfolio of applications; and insurance enterprises look to the IT function to support their needs while operating more efficiently than before.
Mindtree helped an insurance enterprise serving customers in more than 130 countries leverage lean application development and maintenance (ADM) practices to achieve efficiency gains. Lean ADM is anchored by three principles: eliminating non-value-adding activities; eliminating overloads and eliminating imbalances.
The challenge
The customer looked to drive down IT cost by 10% across the board. This ambitious target necessitated streamlining their ADM processes through lean IT practices. They engaged Mindtree to conduct a lean fitment study across a select group of applications and determine the best course of action.
Our solution
To conduct value stream mapping and identify non-value-adding activities Mindtree instituted a comprehensive study of traditional ADM services. This covered services performed, effort involved and skill mapping. The overarching aim was to minimize the time spent by domain experts on unproductive activities; and to enhance service quality.
For instance, the number of context switches that happen during the support process were recorded. We found that 5-10% of effort could be saved with efficient context switches. This activity helped Lean IT experts form Mindtree identify eight application portfolios for restructuring.
Business impact
- Reduced client bandwidth required to manage applications by 20%
- Improved the utilization of AMS support resources by allocating them to new initiatives
- Increased recorded work by 40% and efficiency by 10% through better work flow management
- Delivered benefits of over USD 1.5 million over a period of one year
