Agile Transformation Case Studies.
Agile in the Insurance Industry
The insurance industry in Indonesia has grown rapidly in the past few years, and insurance companies are facing increased competition in this market. As a result, an insurance company with its headquarters in Jakarta is looking to transform itself to
become more agile.
The company has identified several reasons for the need to
change, including the need to deliver products to the market faster, build products that meet customer needs, increase customer satisfaction, improve cross-functional collaboration, streamline decision-making, and manage risks of project failure.
Challenges.
These were the Challenges that
needed to be Overcame
Slow Product
Launch
The insurance company wants to improve its time to market for new products and services. Currently, the company takes a long time to bring new products to market, which puts it at a disadvantage compared to its competitors.
The company has identified the need to be more responsive to changes in the market and to be able to quickly adapt to new trends.
Build Products that don't Meet User Needs
The company is also looking to build products that meet the needs of its customers. The company recognizes that it needs to listen to its customers more closely to understand their needs and build products that meet those needs.
This will require a shift in the company’s culture, as well as new tools and processes to gather and analyze customer feedback.
Unhappy
Customers
The insurance company understands that customer satisfaction is a key driver of success in the industry.
By delivering products that meet customer needs, the company hopes to improve customer satisfaction and build long-term relationships with its customers.
This will require a customer-centric approach to product development and a focus on delivering high-quality products and services.
Silos between Cross Departments
The company recognizes that silos between departments are hindering its ability to deliver products quickly and efficiently. The company is looking to break down these silos and improve collaboration between teams.
This will require new processes and tools to facilitate communication and collaboration between teams, as well as a culture that values collaboration and teamwork.
Slow Decision
Making
The insurance company wants to streamline its decision-making processes and become more agile. The company recognizes that decision-making can be slow and bureaucratic, which can prevent it from responding quickly to changes in the market.
The company is looking to adopt new decision-making processes that are faster and more efficient, while still maintaining a focus on risk management and compliance.
High Risk of
Project Failure
The insurance company recognizes the risks associated with project failure.
The company wants to adopt an agile approach to project management, which will allow it to quickly identify and address potential issues before they become major problems.
This will require a focus on risk management and a willingness to experiment and learn from failures.
Solutions.
How we tailored
our services to help them
Run Agile Maturity Assessment
Ekipa conducted an assessment of the insurance company’s current level of agility, with a focus on the company’s product development processes.
This involved interviewing key stakeholders, observing team processes, and analyzing metrics related to time to market, customer satisfaction, and other key performance indicators.
Based on the assessment, Ekipa provided a report with recommendations for specific areas where the company could
improve its agility.
Create Agile
Transformation Roadmap
Ekipa worked with the insurance company to develop a roadmap for its agile transformation.
This involved setting goals and milestones, identifying key initiatives and projects, and defining roles and responsibilities.
The roadmap provided a clear vision for the transformation and helped guide the organization through the process.
Create Tangible Metrics Outcome Based
Ekipa helped the insurance company develop tangible metrics to measure the outcomes of its agile transformation.
This included metrics related to team performance, customer satisfaction, time to market, and other key performance indicators.
Ekipa helped the insurance company identify the most important metrics to track and developed a system for collecting and analyzing the data.
Provide Agile Coaches to Work with Executives and Team
Ekipa provided fully dedicated agile coaches to work with executives and teams to support the transformation process.
The coaches provided guidance and support to help teams adopt agile practices, improve collaboration, and develop a culture of continuous improvement.
The coaches worked with both individual teams and the organization as a whole to ensure that everyone was aligned around the goals of the transformation.
Impact.
The Outcomes
that We Achieved
Faster Time
to Market
By helping the insurance company adopt agile practices, Ekipa helped the company improve its time to market for new products by two times faster.
This was achieved by improving collaboration between teams, reducing cycle time, and streamlining decision-making.
Build the Products that Users Need
Ekipa’s focus on customer-centric product development helped the insurance company increase its Net Promoter Score (NPS) by 30 points.
By gathering and analyzing customer feedback, the company was able to ensure that its products were aligned with customer needs and preferences.
This led to higher customer satisfaction and stronger relationships with customers.
Increase Customer Satisfaction
By delivering high-quality products that met customer needs, the insurance company was able to improve customer satisfaction by 40%.
This helped the company retain existing customers and attract new ones, ultimately leading to increased revenue and profitability.
Cross-Function Collaboration, Less Silos
Ekipa’s focus on cross-
functional collaboration helped the insurance company break down silos between departments and improve communication and collaboration between teams.
This led to a more cohesive and aligned organization, with better coordination and faster decision-making.
The company was able to reduce its time spent on non-value-added activities by 50%, allowing teams to focus on delivering value to customers.
Lean and Fast on Decision Making
By streamlining decision-making
processes, the insurance company became more agile and responsive to changes in the market.
Ekipa helped the company adopt decision-making processes that were faster and more efficient, while still maintaining a focus on risk management and compliance.
The company was able to reduce its time to make decisions by 70%, leading to faster product development cycles.
Managing Risks of Project Failure
By adopting an agile approach to project management, the insurance company reduced the risks of project failure.
Ekipa’s focus on risk management and experimentation helped the company identify and address potential issues before they became major problems,
leading to more successful projects and a more resilient organization.
The company was able to reduce its project failure rate by 50%.
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