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Market Research Report
Business Strategy: SOA Adoption in the North America Insurance Industry -- Significant Room for Improvement
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This publication has been discontinued on June 28, 2011.
Abstract
This Financial Insights report reveals that insurers have not yet
realized that SOA encompasses both macro- and microlevel participation and
support within the organization; it is the yin and yang
of strategic success and operational excellence. And that balance cannot
be achieved until insurers have a deep partnership between business
and IT departments. Successful insurers will be those that realize
that SOA enforces a "we are all in this together"
corporate mindset.
Barry Rabkin, senior research analyst, Financial Insights, and the
lead author of this report, states: "In this rapidly changing
marketplace characterized by continually unfolding financial and economic crises, insurers
must deploy a service-oriented architecture (SOA). However, our survey of
North American insurance companies clearly demonstrates insurers are, at best,
at the midpoint of their journey to becoming truly mature
users of SOA."
Table of Contents
- Financial Insights Opinion
- In This Report
- Situation Overview
- Business Need
- SOA Adoption Maturity Model
- Four-Dimensional Maturity Model
- SOA Maturity Model Survey Scores
- The Approach
- Survey Specifics
- High-Level Profile of the Survey Respondents
- Reasons for Adopting SOA
- Strategic Role of SOA in the Company
- Depth of Partnership Between Business and IT
- Communication Between Business and IT
- Business Involvement in SOA Initiatives
- Business and IT Collaboration on Process Analysis
- Organizational Reach of SOA Initiatives
- Scope of SOA Initiatives
- Expectations and Benefits of SOA Implementations
- Challenges and Practices
- Purchasing Patterns of External SOA Services
- Future Outlook
- Essential Guidance
- Actions for Insurance Companies
- Actions for Vendors
- Learn More
- Related Research
- Synopsis
- Table: SOA Four-Dimensional Maturity Model with Components of Each Dimension
- Figure: North America Insurance Industry: Key Business Initiatives, 2009
- Figure: Distribution of Scores for Four-Dimensional SOA Maturity Model
- Figure: Distribution of Respondent Scores by Maturity Model Dimension and Scoring Range
- Figure: Respondents by Organizational Net-Written Premium Revenue
- Figure: Respondents by Job Role
- Figure: Current Investment in SOA
- Figure: Top 3 Reasons for Initiating Adoption of SOA
- Figure: Strategic Role of SOA
- Figure: Decision-Making Role of SOA
- Figure: Importance of SOA Communicated Between IT and Business
- Figure: Approach to SOA
- Figure: Extent of Business Users Actively Involved in Organization' s SOA Initiatives
- Figure: Extent of SOA Program Led by IT or Business
- Figure: Extent of Collaboration Between Business and IT in Business Process Analysis/Identification Activities
- Figure: Level of Detailed Analysis Performed on Business Processes for SOA Initiatives
- Figure: Insurance Departments Involved with SOA Initiatives
- Figure: Previous and Planned Scope of SOA Initiatives
- Figure: Support of SOA Initiatives
- Figure: Expectation Level After Implementing SOA Initiatives
- Figure: Level of Agreement About Derived Business Benefits from SOA Initiatives
- Figure: Challenges Encountered While Implementing SOA
- Figure: Activities or Practices Adopted to Support SOA Initiatives
- Figure: Change in SOA Spending, 2008 and 2009
- Figure: Purchase Plan of External Fee-Based SOA Services, 2008 and 2009
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