Globally, insurance organizations have resorted to business diversification to drive new revenue streams and gain competitive advantage. Regulatory compliance, adverse claim profiles, new business channels are testing the limits of insurers' technology strategies and platforms. In order to overcome these challenges, L&T Infotech offers IT strategy consulting services for clients seeking transparency IT strategies and through a fusion of business and technology strategies explicitly link critical issues to actions and results.
COMPASS, L&T Infotech's framework for IT Strategy consulting, is a simple and practical, yet structured way of modeling Enterprise Architecture and deriving IT Strategy roadmap. The framework is based on industry standard frameworks such as TOGAF and Zachman, but tailored to optimize the efforts and investments of this exercise. The framework involves a thorough assessment of business vision, market strategies, future needs, as well as current IT infrastructure, products, processes and survey results indicating end user satisfaction.
This framework is designed to give the following benefits to the business:
- Measure Business-IT alignment objectively
- Derive roadmap for change with ball-park estimates and detailed incremental plan
- Prioritize IT Budget with better understanding of short-term and long-term needs
- Select the right product for your business needs
- Reduce future IT cost through standardization and consolidations
- Reduce IT complexity