For insurance companies, moving to a new policy administration or claims processing system is usually a major forklift operation that requires a huge investment of time, money and human resources--no matter how smooth the eventual cutover may be. Such is the nature of the IT beast, which has reached a scale of enormous complexity and inter-dependency between systems.
However, in recent years, there has been momentum for doing things a little easier--of breaking down IT task and migrations into more manageable “chunks”--to be done iteratively, in concert with the business. IT, with its big systems, big networks and now big data, is an ideal candidate for this strategy. The big question, of course, is: is it realistic? Yes, says Brad Power, writing in Harvard Business Review, advocating chunking as the best way to manage ever-expanding and ever-complex IT projects.
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