🛑Just because your software development and IT teams in insurance use Business Rule Engine BRE in their tech stack, it does not mean the organization manages business rules effectively or efficiently.
The insurance industry is rule-driven, but there's a disconnect between IT teams' understanding of rules management and rules engine and business and operations teams in underwriting claim adjudication pricing products risks and etc.
💢Many developers softwareengineers use a form of businessrules engine in development to make change of business rules in the software easier. But this does not go beyond IT and software development teams.
What is the issue with this approach of rules management? The facts are that:
🔸Managing rules does not leave software development and IT teams
🔸Still requires a high-level of competency in software programming/coding
🔸The life-cycle of rules is highly tight to the software, process and system releases and life-cycle
👀What does good look like for insurance providers? They should manage business rules outside of IT and software development, allowing non-developers to adjust and implement rules across processes and systems.
This is easier said than done. It represents a whole set of new challenges to the organization:
🔸Shifting the authority of change and schedules of deployments
🔸Trusting the other teams (non-technical, SME and ops) by software development and IT for complex change management
🔸Deploying the changes in a secure and controlled manner
🔸Fear of losing control (in IT and software development)
🔸New tasks for SMEs and operation teams that they'd rather not have
🚀Make Quick, Accurate, Transparent and Consistent insurance decisions
🔹It reduces the burden on software development and IT teams and lets them focus on strategic priorities
🔹Puts the change management in the hands of SMEs and the operations team to respond to business needs quicker and more frequently.
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Published December 3rd, 2024 at 07:30 am
