The assignment was labeled a Build vs Buy platform assessment, however the legacy ecosystem of four primary and five secondary products required a much more nuanced assessment approach. The team landed on two parallel assessment paths performed simultaneously, over three months and in three phases.
After mapping customer journeys representing the (1) applicant, (2) servicing agent and (3) new client onboarding, a Senior Solutions Architect led a thorough technical review of every product and its functions, diagramming both the current state and a proposed state of optimal efficiency.
Market research was conducted in tandem. We initiated analysis across multiple facets –
- understanding current and trending states of direct competition in the insurance industry, respective products, offers and services;
- assessing competitor and SaaS solution digital features today, providing a baseline of expected functionality by end users; and
- projecting future needs and desired features by analyzing shifting customer behavior in adoption of digital services across insurance and tangential industries
Overall market analysis resulted in Minimum, Parity and Destination capability sets from which our team devised development roadmaps, project runway and team-size resource requirements, at varying velocities. The subsequent gap analysis of target state to current product capabilities helped evaluate worthy SaaS platform licensing options, along with respective install and migration estimates.