The project provides an in-depth analysis of an IT Strategy for ISO insurance company which specializes in providing student insurance to international students studying in the US.

1. IT Strategy Plan
ISO Insurance
Presented by:
Gautam Sawant
Parth Soni
Zhongyang Sheng
Bhavin Shah
Zheng Shang
Jash Shethia

2. Agenda
• Executive Summary
• About ISO
➢ISO overview
➢Corporate Strategy
• Business/Service unit Strategy
• ISO - IT Strategy
➢Mission, Vision, Objectives, Value
➢IT Strategy – Big Data
➢Alignment with Corporate & Business unit
➢Business Improvement and Competitive Advantage
• Professional Assessment
• IT Service Design
• Technology Roadmap
• Business Model
• Functional Analysis
• Implementation Strategy
• Measurement and Metrics
• Issues and Challenges
• Recommendation
• Conclusion

4. Executive Summary
ISO is a leading insurance provider in the US managed solely by current and former international
students currently providing affordable personal health insurance to international students
ISO also manages student health insurance plans for universities throughout the US
Currently ISO provides only a limited number of Insurance only to a fraction of the 1043839 international
students studying in the US
In the recent years the US has seen a steady rise in the number of international students coming each
year
ISO plans to capitalize on this rise and develop an effective strategy that will help it improve its market
share in the international student insurance business
ISO also plans to tap the existing customer base of international and provide new insurance services like
vehicle insurance, renters insurance life insurance and long term health insurance Gautam
Sawant

6. Introduction:
Company Background:
For International Students, by international
students: ISO provides specialised insurance
plans for international students. ISO is
managed by former and current international
students who understand the need of
providing affordable insurance plans to
international students in the US.
Multi-lingual customer service: ISO’s primary goal
is to provide the best customer service. Owing
to the vast diversity of its clientele ISO has to
provide robust customer service. ISO
customer representatives speak a variety of
languages.
Gautam Sawant

7. Introduction (contd.)
Purpose:
Provide cost effective insurance solutions and sector leading customer service to maximum number of
international students
Industry:
Currently solely in the insurance industry
Customers:
Currently focusing only on international student insurance but ISO plans but ISO plans to provide holistic
insurance solutions like health insurance, life insurance and car insurance
Gautam Sawant

9. Corporate Strategy
Mission: To do our utmost to provide our customers with the
best, affordable insurance plans, complement this by
maintaining the highest quality of customer service and
exceed customer satisfaction by constantly improving our
services
Vision: ISO aims to be a one stop shop for all insurance
needs of its clientele which is international students in the
US. ISO plans to build a long term relation with incoming
students and provide students a host of insurance plans like
car insurance, renters insurance, life insurance and health
insurance. Its also plans to expand its customer base and
provide sector leading customer service
Gautam Sawant

10. Objectives
Become a leader in providing insurance services to international students
Build long term relations with existing customers by providing excellent customer service
Aim to provide insurance services to 60% of the international student market by 2020
Provide a variety of new insurance services like car insurance, renters insurance, life insurance and long
term health insurance to customers keeping in mind ISO’s goals of affordability and customer
service
Make effective use of technology to acquire new customers, improve customer service and grow
sustainably
Gautam Sawant

11. Value Statement
ISO plans to achieve excellence in the field of insurance
by adhering to the following values:
● Respect: Respect to the needs of the customers
and that of the co workers
● Integrity: Deliver value while acting fairly and
ethically
● Service: Place the customer at the center of what
we do
● Innovation: Leverage technology to get the best of
what is in hand
Gautam Sawant

12. Corporate Strategy
Gautam Sawant

14. Business Strategy
Mission: To provide peace of mind and value to customers with its customer-focussed insurance services
and excellent customer service
Vision: Be known as a company of choice for its customers and as a provider of holistic and cost effective
insurance services to its customers
Gautam Sawant

15. Business Objectives
To differentiate itself from competition through its unique clientele and placement as a low cost
insurance service provider
To provide market leading value to its customers through its range of customised and well thought out
insurance plans
Increase the international student customer number through targeted marketing by using social media
and forming alliances with educational forums and platforms worldwide like edulix, usnews rankings
and princeton review
Beat the competitors on cost through real time custom based pricing for insurance plans
Develop a cost effective and sustainable IT infrastructure
Gautam Sawant

17. IT Mission and Vision
IT Vision:
Our ambition is to provide every international student with various insurances on a platform which is very flexible
and user friendly. We aim to achieve this by using the Big Data Analytics and Cloud Computing services.
IT Mission:
The most important thing is to keep the customers happy and satisfied. This can be done by being efficient in the
following areas:
1. Reliable: High degree of reliability and responsiveness is critical
2. Security: The systems should be secure to keep the privacy of customer data, hence gaining their
confidence
3. Mobile app: Enhancing portability by delivering the products through mobile app
4. Availability: Everything should be readily available and every customer query should be answered
5. Social: Social presence and awareness among customers should be created, thereby trying to increase
customer base
6. Simplicity: The processes like buying the insurance online and later claiming insurance should be kept
simple
7. Specific: There should be no hidden terms and conditions. Transparency is the key to gain customer
confidence
Parth Soni

18. IT Objectives
Parth Soni

19. IT Value Statement
What? – Moving from paper based to digital solutions through mobile application/Website
Increasing in efficiency by increasing in transparency
Expanding worldwide + including other insurances as well
Where? – Strong architecture, Efficient hardware and software, analyzing and extracting value from data,
cloud storage
Who? – International Students(Customers), Stakeholders
When? – Every process included from purchasing insurance to claiming insurance should be made
simpler & should be efficient
Improving every quarter as per business need
How? – Gaining maximum customers worldwide + holding the current customers by using technologies
like Big Data and Cloud Computing.
Also help customers to make the most of the insurance policy by offering various promotions and
discounts.
Parth Soni

21. Understanding Big Data Analytics
• Big data is a term that describes the large volume of
data – both structured and unstructured – that
inundates a business on a day-to-day basis.
• But it’s not the amount of data that’s important. It’s
what organizations do with the data that matters.
• Big data can be analyzed for insights that lead to
better decisions and strategic business moves
• Big data analytics is the use of advanced analytic
techniques against very large, diverse data sets that
include different types such as
structured/unstructured and streaming/batch, and
different sizes from terabytes to zetabytes.
Parth Soni

22. The 5V’s of Big Data
Parth Soni

23. Importance of Big Data Analytics
We can use Big Data Analytics for number of
reasons:
• cost reductions
• time reductions
• new product development
• Optimized offerings
• Smart decision making
Parth Soni

24. Big Data Analytics in ISO
“The insurance industry is–by definition and by
practice–generally averse to risk. But thanks to the
success of early adopters of data analytics,
insurance companies in the $1.1-trillion U.S. market
are scrambling to ramp up their own data analytics
practices before it’s too late.”
- Alex Woodie
“You’re going to see an incredible level of
customization at the consumer side, where people
will be able to buy the insurance they want and
need, priced and tailored to what they’re actually
doing. It’s going to come to resemble far more what
it does now a more traditional retail-oriented industry
business.”
- Seth Rachin Parth Soni

25. Big Data Analytics in ISO
• The insurance industry works on the principle of
risk. Customers take out policies based on their
assessment of a particularly bad thing happening
to them, and insurers offer them cover based on
their assessment of the cost of covering any
claims.
• So wouldn’t it benefit everyone if there was a way
to more accurately assess risks?
• Predictive modelling basically means working
out what will happen in the future by measuring
and understanding as much as we possibly can
about what has happened in the past. “Models”
are then built which show what is likely to happen
in the future, based on the relationships between
variables which we know to exit from examining
the collected data from the past
Parth Soni

26. Structure of Big Data
Parth Soni

27. Big Data trends in Insurance Industry
Parth Soni

29. What is Cloud Computing?
• Cloud computing is a type of Internet-based computing
that provides shared computer processing resources and
data to computers and other devices on demand. It is a
model for enabling ubiquitous, on-demand access to a
shared pool of configurable computing resources (e.g.,
computer networks, servers, storage, applications) which
can be rapidly provisioned and released with minimal
management effort.
- Wikipedia
• Cloud computing is a type of computing that relies
on sharing computing resources rather than having local
servers or personal devices to handle applications
- Webopedia
Parth Soni

30. Why Cloud Computing?
• The adoption of cloud computing will increase
flexibility, scalability and cost-effective IT
solutions. Cloud-based solutions help ISO to
decrease their total cost of ownership by reducing
the upfront installation costs of IT system.
• ISO can subscribe to cloud-based solutions to
shift from on premise to software-as-a-service-
based deployment model. Insurance firms shift to
cloud-based IT infrastructure model to increase
flexibility in IT resource utilization and attain cost-
effectiveness through the pay-per-use pricing
model.
Parth Soni

31. 5 P’s of IT strategy
Plan:
● Use technologies like BIA
effectively to acquire
customers and calculate
dynamic premiums
● Develop a cost effective IT
infrastructure using cloud
Perspective:
● Consent with all the
employees before embracing
a new technology culture
● Develop a strategy to
leverage ISO’s image of a
partner to students and
Universities
Ploy:
● Partner with education
forums for marketing to
acquire new international
students.
● Introduce new low cost
insurance plans like renters
and car insurance to the
existing student network
Pattern:
● Enhancing the already
good customer experience
● Retain all successful
policies and add
technology as a new
dimension to strategy
● Keep the functional
website as it is
Position
● To position itself as a low
cost insurance provider
giving the best value
● Differentiate itself from the
competition through its
unique customer base
Bhavin Shah

32. IT strategy alignment tools
Identify business
drivers like cloud
analytics and
mobility that is
driving ISO’s IT
needs
Develop an IT
vision for ISO
Assess ISO’s
current IT
alignment with
respect to assets
investment and
organization
Assess the
alignment gap
Prioritize It tasks
according to
criticality and
business value
Analyse various
options for
implementing the
selected
technology
Create
migration plan
and an IT
roadmap for
ISO to align IT
with business
Adjust the IT
strategy
according to the
business needs
as and when
needed
8 steps to IT and business alignment - CIO Index
Bhavin Shah

33. Balanced scorecard method
Financial:
We measure the financial impact
of the new strategy like sales
growth net income etc. How ISO
should appear to its
stakeholders is also decided.
Internal Business process:
ISO needs to decide which
business process it should
excel at to satisfy its
stakeholders. ISO will try to
focus on easy claims and
finding precise premiums using
technology
Customer:
Evaluate how new strategy will
impact customers. Also decide
ISO’s positioning for the customer.
ISO has decided to position itself
as a low cost and focussed options
to the students.
Learning and growth:
This involves training of the
current IT and business staff in
latest business and technology
trends. This will help them to be
on the same page when
developing an IT strategy inline
with business needs.
Vision and
Strategy
Bhavin Shah

34. 5 Principles of delivering value
Portfolio value for
management
process
Real time tracking of
customer data and
use of BIA in
calculating
premiums can
deliver considerable
long term value
Investing in cloud-
based IT
infrastructure
Developing an
innovation based
culture
Chunks of value
Deliver value
through focused
marketing by
partnering education
forums
Improve value
proposition by fine
tuning analytical
predictions
Deliver value
through independent
projects like a simple
mobile app for easy
claims
Holistic orientation to
technology view
Simplify IT process
across architectures
for ease of use
Incorporate analytics
across mobile and
desktop applications
for an improved
customer experience
Work on quality of
data for better
insights
Joint ownership of
technology initiative
Make sure that
business people at
ISO understand the
value that IT delivers
and take ownership
towards success of
IT
Decision should be
taken by keeping
both IT and business
in mind
More small
Experiments
Experiment with new
Big Data algorithms
to get better
predictive insights
Experimentation on
improving cloud
services and bia in
mobile applications
Bhavin Shah

35. Business Improvement and Competitive Advantage
Market Positioning:
ISo plans to use cutting edge
technologies and still focus on its
original customer base which is
international student. This exclusivity
of service will position ISO uniquely in
the minds of its customer thereby
creating competitive advantage
Dynamic premiums:
ISO plans to provide dynamic
premiums to each student based on
past health records using BIA. This
will reduce the premium amounts
thereby giving ISO an even more
competitive price to beat the
competition
Customer service:
ISo is already providing multilingual
customer support. ISO plans to add
more languages to their customer
support mechanisms. Also
development of a mobile app will help
clients in easy tracking, renewal and
claims thereby winning on customer
satisfaction
Partnerships:
ISO plans to partner leading software
vendors for affordable cloud solutions
and educational forums for targeted
marketing
Master Data Management:
Using Master Data Management
and cloud ISO plans to increase the
security, uniformity and availability
of sensitive customer data. MDM
will also help in data management
through ease of synchronizing.
Bhavin Shah

36. Forming a strong relationship between IT and business
Competence Credibility Interpersonal Interaction Trust leading to value
IT staff should be trained
about the core business
processes of the insurance
industry
Excellence in IT innovation
will improve brand reputation
Strong implementation of
business analytics to
calculate premiums and
check frauds will reduce load
of the business guys
Technology enhancements
should be delivered on time
to maintain credibility
Meet all the compliance
requirements so that the
business does not run into
any issues
Partner with reputed
suppliers for quality products
Set standards for evaluation
of the quality of work
Train IT in business jargons
and vice versa
Organize weekly/bi-weekly
meets between the IT and
business teams for enhanced
communication
Develop a detailed
communication plan and
establish proper
communication chanels
IT and business teams need
to be transparent about their
processes to build trust
Long term cooperation
between IT and business
teams will lead to value
creation
Bhavin Shah

37. Information Management
4)Build Information standards: Set standards for data
quality and make sure data meets the quality and
security needs. Use metadata to cross reference
business models
3)Establish information stewardship: Information
stewards, their roles and responsibilities are clearly
stated. Information stewards are responsible for the
accuracy, completeness and security.
2)Articulate operational components: Information
management policies related to people, processes and
technology is clearly articulated
1)Develop an Information management policy: Develop
detailed IM policy aligned with ISO’s business goals. This
policy sets the guidelines for privacy, accountability, risk
tolerance and helps in making key decisions
Parth Soni

38. Master Data Management
Master Data Management:
● ISO will create a lot of structured and
unstructured data most of which will be
confidential details of customer
● We plan to setup a master data
management(MDM) plan.
● MDM is technology enabled discipline
where business and IT work together for
uniformity, accuracy, stewardship, semantic
consistency and accountability of shared
data assets
● MDM is focussed on a master or reference
data. Synchronizing multiple data items and
maintaining data quality are essential
aspects of a MDM system
Parth Soni

39. Implementation of Big Data Analytics in ISO
• Setting policy premiums:
Insurers must set the price of premiums at a level which ensures them a profit by covering their risk, but
also fits with the budget of the customer
• Transparency leading to benefit for customers:
Customers don’t mind giving up some data if you’re transparent about what data you’re asking for, and
they are getting real value back for it
• Tackling Fraudulent claims:
Insurers use Big Data to tackle fraudulent claims through profiling and predictive modelling
• Marketing:
ISO can become more efficient in offering products and services which will meet specific needs by
conducting sentimental analysis of customer feedback & social media activity
• Increased understanding of Customer data:
Through Big Data Analytics, ISO will be able to understand different needs & affordability of different
International students in different parts of the globe. Also it will provide straight forward affiliations and
claim centers with clear conditions. Parth Soni

40. Cloud Implementation process:
Parth Soni

41. Integration with Big Data:
• More than data storage and the ease of provisioning this at affordable cost on the cloud, the availability
of powerful tools like IBM Watson, Google BigQuery, Tableau, and ETL tools
like Informatica and Talend makes it very productive for users to extract, cleanse, and analyze data in
the cloud.
Parth Soni

42. Improving customer experience
Following are the measures that ISO is planning to take to improve customer experience:
Exceptional customer support with quick turnaround time
Special promotion offers and deals
Building a personalized relation with the student right from the first day
Referral bonuses
Hassle free settlement of claims
Easy interface for website and mobile applications
Well trained customer support staff
Parth Soni

43. Compliance Impacts and Needs
SOX and
NAIC
Privacy
Laws
Industry
Specific
regulations
International
regulations
Information
● Complying with new capital
regulations that were designed for
banks and do not always fit the
insurance business model
● SOX provisions currently apply to only
public companies but new NAIC
regulations can put similar restrictions
on private companies too
● Iso contains sensitive personal data
and health data of customers and
makes sure that all the customer data
is secure
● ISO abides by various data security
laws like Gramm-Leach-Bliely Act
(GLBA) and Health insurance
portability and accountability act
(HIPPA)
● ISO makes sure that it complies with
multiple regulatory bodies in the
insurance industry
● ISO plans to perform an own risk and
solvency assessment (OSRA) each
year as an embedded process in risk
based decision making as stated by
the regulators Gautam
Sawant

44. Suppliers and Alliances
Cloud service suppliers: Amazon Web services
Marketing partners:US NEWS and Edulix
Network provider: AT&T
Data visualization: tableau
OS vendor: Microsoft
Gautam
Sawant

45. IT Governance
IT Governance Process and Structure: IT governance involves defining a structure that ensures
companies are aligned with its business strategies, that all the stakeholders’ voices are heard and there is
a good way to measure the performance of IT
Understanding
business
requirements for IT
Planning and
implementation of
IT
Risk and Resource
Management
Evaluation
IT aligned with
business strategy
Gautam
Sawant

46. IT Governance Components
We identify the five components to IT governance:
1. Strategic Alignment: This involves linking business
and IT so they can work well together. Alignment is
possible only when there is proper planning and
effective communication between the business and IT
leaders about costs, reporting and impacts.
2. Value Delivery: This step makes sure that the IT
department does what is required to deliver the
promised benefits
3. Risk Management: This step involves developing a
formal risk management framework decides how IT
measures accepts and manages risk.
4. Resource Management: This step involves managing
the resources more efficiently and effectively
5. Performance measurement: This involves putting
structure around measuring business performance by
using methods like IT balanced scorecard.
Gautam
Sawant

47. Risk Mitigation
Gautam
Sawant

48. Communication Plan
goals
goals
For effective communication ISO decides to use a five step communication plan. These are the five times
when business and IT managers meet to discuss the plans:
1. Identify business goals: The business and IT leaders meet for the first time to align the IT strategy with
the business goals
2. Deconstruct goals into behaviour: For each goal identify the discrete behaviour that the business
leadership expects from the IT
3. Create actionable communication Objectives: This meeting involves the discussion about the
communication objectives. The best business objectives are as specific as possible.
4. Ensure that stakeholders understand the plan: Make sure that both the IT and business departments
understand the business and IT plan
5. Re-asses the plan regularly: Assess the plan regularly with respect to the attainment of business goals.
Gautam
Sawant

49. Professional Assessment

50. Super swot analysis
Strengths
Affordable premium costs using analytics
Great customer service tailor made for its
clientele
Easy renewal and claims due to mobile app
Cost saving and flexibility provided by cloud
Targeted marketing
Weakness
Strategy limited to the customer base of
international student
Huge costs associated with development of
new technologies
Tackling IT compliance and security issues
Opportunity
Expand into new markets
Use technology to increase customer base
Partner more universities
Increasing the number of insurance
services
SO Strategies
Lower premiums can help expand ISO to
expand in developing markets
Targeted marketing will help ISO get new
customers very efficiently
WO Strategies
Huge costs will be justified if ISO decides to
expand into new markets in the future
Future strategies can target more
customers than just international students
Threats
Security of data on cloud
Current political environment not suitable
for international students
Change in insurance regulations for
students
competition in the insurance industry
ST Strategies
Setup a MDM which will improve data
uniformity, availability
Choosing right vendors for cloud
infrastructure and negate considerable
security threats
Use technology for competitive advantage
WT Strategies
More investment can help ISO build more
secure systems
Monitoring compliance regularly to stay
ahead of changing regulations
Gautam
Sawant

51. Ansoff Matrix
Gautam
Sawant

52. Porter’s five forces
New Entrants
Threat:Low
Buyers
Threat:Low
Suppliers
Threat: High
Substitutes
Threat: Low
Industry
Rivals
Threat:
Medium
ISO’s low price a barrier to
new entrants
Switching insurers is difficult
Insurance industry build on
trust
High capital requirement
Cloud service suppliers
are have more customers
every day leading to low
bargaining power
Partner cooperation
essential for ISO
Insurance is an essential
service and cannot be
substituted
Insurance a necessity which
reduces buyer’s power
Switching difficult for buyers
Buyers unlikely to find cheaper
alternatives
Insurance industry is
competitive and there is a
threat of rivals
ISO’s positioning reduces
the threat of rivals
Gautam
Sawant

53. AS-IS TO-BE Business Strategy
AS-IS TO-BE
Products and Services:
Currently limited to only student insurance
Online products limited to only a website
Products and Services:
Plans to add new insurance services like renters and car
Insurance
Plans to develop a mobile application in the future
Customers/Clients:
ISO serves only 30% of its target market which is the international
students
Currently business limited students
Customer/Clients:
Plans to capture 70% of the international student market
No plans of expanding beyond students immediately but expansion of
customer will be considered in the future
Competitors:
Currently competing only on price
IT infrastructure not as robust as competitors
Competitors:
Plans to leverage technology to compete more sustainably
Cloud and mobility will make the infrastructure market ready
Gautam
Sawant

54. AS-IS TO-BE Business Strategy(contd.)
AS-IS TO-BE
Distinctive competencies:
Multi-lingual customer service
Most affordable plans
Distinctive competencies:
Plans to use analytics for premium calculations in addition to the
customer service
Plan to go ahead with the same strategy with some insights from
analytics
Governance:
Internal Decisions: The focus was only on competing on price and
giving the best customer service
Regulatory: Currently abiding to all current regulations set by bodies
like SOX
Partners: Currently partners limited to a few universities in the US
Governance:
Internal Decisions: Plans to use technology effectively in addition to
the current objectives
Regulatory: Plans to comply with new regulations that are being set by
new regulatory bodies such as NAIC and also take into account new
IT compliance regulations
Partners: Plans to increase the number of university partners and also
partner cloud vendors for infrastructure and educational forums for
effective marketing
Gautam
Sawant

55. AS-IS TO-BE Business Infrastructure
AS-IS TO-BE
Organization Structure:
Currently following a functional structure wherein business and IT
teams work in separate silos
Currently only three verticals are present namely insurance
business(marketing also included), IT and HR
Organization Structure:
Plans to use a matrix structure for better coordination between
business and IT, silos will be maintained but the reporting will be
more cross functional
Plans to split the insurance vertical into sub silos for the new
insurance services
Key Processes:
Most of the key processes not automated
Key Processes:
Plans to automate some key processes like calculating premiums
and fraud detection using analytics
Human Resources:
Currently human resource has a very limited role as the staff is small
Human Resources:
With new recruiting in IT as well as the business teams human
resource teams will play a much more crucial plan
Gautam
Sawant

56. AS-IS TO-BE IT Strategy
AS-IS TO-BE
Technology Scope:
Key Applications: ISO currently just has the website which can be
used to buy and renew insurance
Key Technologies: This is a simple J2EE application using HTML,
javascript, restful web services using spring framework
Technology Scope:
Key Applications: Plans to add a mobile application that can be used
to buy and renew policies and claim insurance
Key Technologies: The new application will support IOS and Android
and will be connected to a Master database
Systemic Competencies:
Current web applications is stable and can handle basic activities like
buying and renewing insurance
Systemic Competencies:
Plans to add dynamic capability to evaluate premiums based on
information provided by the customer
Governance:
IT was little part of ISO’s business and ISO has aimed to keep a clean
and cost effective infrastructure
Governance:
Shifting to cloud will make ISO more flexible. ISO also plans to use
MDM which will help with better governance
Gautam
Sawant

57. AS-IS TO-BE IT Infrastructure
AS-IS TO-BE
Architecture:
The current web application follows a J2EE architecture
Architecture:
Plans to make the current architecture cloud ready and develop IOS
and android based mobile apps
Key Processes:
Currently only the processes like buying and renewal of insurance
were handled by the IT infrastructure
Key Processes:
ISO plans to add more mediums to buy and renew insurance by
introducing the mobile app. ISO is also leveraging analytics for
processes like premium calculation and fraud detection
Human Resource:
Currently IT resources are very limited and hence HR policies not
defined in depth
Human Resource:
With an increase in the IT staff ISO plans to bring in more robust HR
policies which will also help in smooth transition as far as company
culture is concerned
Gautam
Sawant

58. Market Analysis and Demand
As of 2015/16 there are 1043839 international students studying in
USA
Number of international student enrollment is rising at more than 10%
per year
ISO will also try to expand its customer base beyond students in the
next strategic cycle as insurance remains and healthcare remain
one of the largest sectors in US
Gautam
Sawant

59. Target Market
Due to such a growth in the international student enrollment in US the target market for ISO will be the
international students
ISO can consider expanding its target audience to general public in USA in the next strategic cycle
Gautam
Sawant

60. Application Portfolio Analysis (positioning map)
High price
Low value
(coverage)
High value
(coverage)
Low price
ISO positioned as a
low price high value
insurance provide
Gautam
Sawant

61. BCG Matrix
Vehicle
Insurance
Dental
Insurance
Student
Health
Insurance
Renters, Life
Insurance
Gautam
Sawant

62. IT Service Design

63. Stages of the Service Design
SD
Understanding
SD
Explaining
SD
Filtering
SD
Generating
SD
Thinking
SD
Realizing
Finding out and learning
Make it happen
Giving Strategic Directions Developing Concepts
Selecting the bestEnabling Understanding
Zheng Shang

64. IT Service Process
SD Understanding
Strengthen competitiveness at the insurance market
SD Thinking Differentiate service & Products. Lower the price
SD Generating
Integrated data management. Mobile APP.
Synchronized database on portable device
SD Filtering Selecting ideas and combining concepts. Evaluating results and solutions
SD ExplaIning Making concepts tangible, showing future possibilities and giving overviews
SD Realizing Implementation and delivery, providing guidelines and plans
Zheng Shang

66. Objectives of Technology Roadmap
1. To reach a consensus about a set of needs those are required
technology and satisfy
2. To provide a mechanism to help forecast technology
developments,
3. To provide a framework to help plan and coordinate
technology developments.
Zheng Shang

67. Phases of Technology Roadmap
Phase 1:
Preliminary
Activity
Phase 2:
Development
of Technology
Roadmap
Phase 3:
Follow-up
Activity
Scope Zheng Shang

68. Phase 1：
Preliminary Phase
Zheng Shang
Step1：
Satisfy Essential Conditions
Step2:
Provide Sponsorship/Leadership
Step3:
Define the Scope and Boundaries
for the Technology Roadmap

69. Phase 2:
Development Phase
Step1:
Identify the products that will be the focus of
the roadmap
Step2:
Identify the critical system requirements and
their targets
Step3:
Specify the major technology areas
Step4:
Specify the technology drivers and their
targets
Step5:
Identify alternatives and their timelines
Step6:
Recommend the technology alternatives
that should be pursued
Step7:
Create the technology roadmap report Zheng Shang

70. Phase 3:
Follow-Up Activity Phase
Roadmap must be critiqued, validated and accepted by the group
that will be involved in any implementation
A practical plan needs to be developed using the technology
roadmap
A periodical review and update point is needed
Zheng Shang

72. IT Business Model
Jash Shethia
Marketing partners:
Edulix
USNEWS
Technology Partners:
Amazon web services
tableau
Insurance services
Student health insurance
Renters insurance
Vehicle insurance
Life insurance
Insurance premiums
Customised insurance
plans
Value generated from
referrals
Value from partnerships
Cost saving from cloud
Value from real time
analytics
Multi-lingual customer
service
Customised premiums
Custom based plans
State of the art
technology for customer
support
Company employees
Data analysts
IT Team
Business Team
ISO website
Mobile App
Main focus only on the
international students in
US
Plans to expand the
customer base in the
future
Salaries cost
Cloud Infrastructure costs
Marketing expenditure
Maintenance costs
Insurance premiums
Alliances

73. Aligning IT and Business Models
Communications
Weekly meetings between
business and IT managers
in order to exchange
current progresses,
problems and needs
Partnership
Emphasize partnership
through shared goals,
risks, rewards and
penalties. Assess
business perception of IT
value
Competency / Value
Measurement
Implement IT and business
metrics as defined in the
objectives.
Scope & Architecture
Increase transparency of
architecture, agility and
flexibility through
standards and continuous
assessment
Governance
Allocate the financial
resources according to the
defined IT strategy
Skills
Emphasize culture of
innovation and internal
trust between business
and IT through trainings
and group activities
IT Business Alignment Mechanism
Jash Shethia

75. 8 P’s of Service Marketing
Target Market
Place
United states.
Major International cities
Process
- Customers register for
a service/s
-Payment for the service
-Delivery of services like
handling claims
Product
Product
Insurance Services like
health, auto, Home etc.
Customized services
Price
General Service
premiums,
Customized Service
Prices
Productivity & Quality
Faster, personalized and
competitive services
Physical Evidencet
Claim sites, Company
HQ’s, Customer
Services Sites,
University and schools.
People
International Students
Hospitals, Home
owners,
Promotion
Promotional Codes,
Discount for referrals,
Jash Shethia

76. Value Proposition
Jash Shethia

77. Marketing Segmentation
Jash Shethia

78. Customer Satisfaction and Loyalty
1. Provide excellent product training to all employees.
2. Train the employees in customer empathy.
3. Build infrastructure that supports the customer service.
4. Resolves customer issues at the first point of contact.
5. Empower employees to make customers happy.
6. Deliver on promises.
7. Make it personal.
Jash Shethia

79. P/L Analysis
Jash Shethia

80. Revenue Projections and Expense Forecasts:
Jash Shethia

81. IT budget
Cloud computing: Total amount over a 3
year cycle 1,153,360
DESCRIPTION QUANTITY AMOUNT
Physical Servers & VMware
Licensing
5 $103,000
Storage Area Networks
(SAN)
1 $28,890
Network Switches 2 $50,958
Server Cabinet & PDUs 3 $6,000
Power and Cooling Costs 3432 $237,600
Number of Systems FTEs to
manage the environment
2 $450,000
GB of Memory (N+2
Redundant)
394 $255,312
GB of SAN Storage Space 1000 $21,600
Jash Shethia

82. Customer Service Strategy
Differentiation:
Provide customized, personal insurance services.
Mobile Application functionality for ease of use.
Problem Solving capabilities based on different national and regional
demographics.
Issues resolved at first point of contact.
Seamless service and experienced employees
Improve services by means of feedback.
Jash Shethia

83. Delivery Options
Electronic channels:
1. Mobile Applications
2. Web Services
3. Social Media
4. University Websites
5. Helpline
Physical Channel:
1. Student Orientations
2. Student Organizations
3. Community Centers
Jash Shethia

84. Technology
Based on the IT Strategy, it is necessary to adopt and integrate new technologies like BIA, Cloud based
& computing, IoT into daily company operations.
The following benefits are expected:
Predict
incoming
orders
Find the right
price point for
different
consumers
Better
alignment
with strategy
Optimization
of available
operations
Find
patterns in
customer
behaviour
Customizable
Pricing
Reduce
operational
costs
Improve
customer
service
Jash Shethia

85. Human Resources
Jash Shethia

87. Implementation Strategy overview
ISO Business Units
1. ISO Health Care
2. ISO Car Insurance
3. ISO Travel Insurance
4. ISO Financial Insurance
Program leadership & management Business and IT alignment
Plan & Design System integration
Shared operation platform
ISO Business Units ISO Technology departments
Technology platform
Cloud computing Mobile application BI analysis Internet of things
Data security management Master data management
Network connection & access
Mobile data Social media data Cloud storage data Third party data
Shared operation platform
1. Company’s cloud storage
platform
2. Platform which has
access to third party
database
Zhongyang Sheng

88. Implementation Strategy deployment
Building model in cloud
computing with data in storage
Collecting business cases
and data to cloud storage
Based on these models, using
BI to make prediction or
analysis
Collecting data from
customers’ ISO app
Collecting data from customers’
health record or traffic record
Collecting data from
customers’ social media
…...
Help students purchasing the
most cost effective and the most
suitable insurance for them
Making instant pay based on the
photo (medical bills, Degree of
vehicle damage) sent by
customers and BI
…...
For new customers, using BI
algorithm based on their
personal information or
answers on survey
For old customers, using BI
algorithm based on the data in
their personal cloud storage(or
from mobile app, social media
hospital and traffic record)
Zhongyang Sheng

89. Implementation Strategy development
Feedback &
Personal data
collecting
BI Analysis &
Cloud
computing
Deploy
Development
Implement
Zhongyang Sheng

90. Implementation milestone
Deploy Infrastructure to build cloud storage (physical server)
Build mobile application
(3 months)
Data model development by implementing cloud computing
Getting access to customers’ social media, hospital record personal database etc
Collecting data from different sources
Data analysis (6 months)
Build stable digital transfer to make instant payment for customers
Enable all channels’ service
(3 months)
Overall 12 months
Build
Collect
Deliver
Zhongyang Sheng

91. Measurement and Metrics:

92. Measurement Metrics
The performance metrics the organization needs to consider are:
1)Traditional measures: Return on investment, Return on equity, shareholder equity, market share, ISO
product profitability from different business units
2) New metrics: customer satisfaction, customer profitability ( insurance charge and compensation),
customer lifetime value ( see ISO a way of investment)
3) Cloud computing metrics: Speed, Accuracy of prediction, Quality of data
4) Alliance and partnerships: See if the overall sales increase after selling insurance on Amazon
5) Mobile application & customers’ individual cloud service: customer satisfaction on the speed of
insurance payment, the simplicity of the interface, see if the recommendation fit customers need
Zhongyang Sheng

93. Balance scorecard (page 33) Dashboard
Market Share
KPI on different BUs &
Cloud computing
metrics/ BIA metrics
Finance and
customers’ change
Zhongyang Sheng

94. Issues

95. Porter’s 6 additional forces for Threats
New Entrants
Threat:Low
Suppliers
Threat: High
Substitutes
Threat: Low
Buyers
Threat:Low
Industry
Rivals
Threat:
Medium
Political & Legal
Environment
Complementors
Technical
Environment
Demographic
Environment Social Environment
Macroeconomic
Environment
Bhavin Shah

96. Porter’s Six additional forces for Threats
Political and Legal Environment Threats: Medium
Technology Environment Threats: High
Macroeconomic Environment Threats: Low
Social Environment Threats: Low
Demographic Environment Threats: Medium
Complementors Threats: Low
Bhavin Shah

98. Conclusions
ISO should thus use technology to grow
sustainably
After all the planning the focus should shift on
proper implementation of plans
ISO should keep the focus on keeping the best
customer service and affordability
Bhavin Shah

99. Linking the golden thread with ISO
Thus ISO will try to improve its business processes and gain a competitive by aligning it business
objectives with IT Strategy.
Bhavin Shah

100. Recommendations/Future Scope
The current strategy should be executed for the
next 3 years
The success of this strategy should be leveraged
for future expansion
ISO should plan to expand the customer base
from just international students to all regular
customers in US
ISO can also consider expanding into new
developing markets as a holistic insurance
service provider
Bhavin Shah