Application Rationalization Framework (ARF)Large insurance organizations tend to grow organically and through mergers and acquisitions. This multipronged growth strategy results in heterogeneous IT systems causing numerous challenges. Mentioned below are the challenges that IT heads encounter: - High maintenance cost as large number of applications need to be maintained
- Disparate IT landscape with too many application silos
- Inefficient Business-IT alignment
These challenges are further compounded by changes in regulatory norms and changing competition dynamics. Zensar’s Application Rationalization Framework (ARF) helps insurance carriers overcome these challenges. Our framework is based on our experience of working with global insurance leaders and is structured as follows: - Assessing current Business–IT alignment
- Mapping of business objectives, functions and processes with existing IT applications (As-Is IT landscape)
- Comparing cost of maintaining each application vis-à-vis value delivered by in-depth analysis of key characteristics, functionality details and technology stack of the application
- Recommending specific action plan for applications to rationalize the landscapes such as: Retire,Re-engineer,Replace,Reuse
- Increase in operational efficiency
- Better Business-IT alignment
- Increased IT asset utilization
- Setting the stage for transitioning towards Service-Oriented Architecture (SOA)
- Reduction in application diversity
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