Guidewire part 2 With complete solu on Newest RATED
A+ 2025/2026 NEW!!
When requirements are not aligned? (Maximizing product Value) - Ans - Every day, thousands
of decisions are made on a project by people who bring their own requirements and focus
through their area of exper%se.
- These decisions can divert requirements away from the business objec%ves.
The result - requirements that are not strategically aligned.
The impacts include:
- Cost overruns for the project.
Increased technical debt.
- Time to market may delay or prevent benefits realiza%on.
- Team members may be frustrated when not working toward the same goal.
The develop the legacy system they had.
They end up with a system with no value.
- To avoid this, project teams must confirm strategic value alignment.
Every day, thousands of decisions are made on a project by people who bring their own
requirements and focus through their area of exper%se. These small decisions, over %me, add
up and, if unchecked, can divert a project away from the business obiec%ves. The result; the
requirements are not aligned with the h business objec%ves or business strategy.
The impacts of misaligned requirements can be very expensive with %me and money spent
developing unnecessary features. This effort can lead to cost overruns for the project.
Addi%onally, increased development pulls resources away from innova%on efforts and, at the
same %me, increases technical debt with %me spent developing and tes%ng the requirement for
implementa%on and future releases. The addi%onal development %me can be further
,detrimental to financials when the %me to market causes benefits realiza%on to be delaved or
prevented.
Without clarity of project goals, project team members may each have different objec%ves in
mind. This can lead to frustra%on when not all are working toward the same goal.
When requirements are not aligned with business objec%ves, insurance companies can develop
the legacy system th
Confirming value alignment is really all about ensuring that - Ans everything we do, all the
decisions we make, and the solu%ons we develop, are in support of the business objec%ves.
Iden%fying Risk for Simple, Small Business Policies - Ans Let us prac%ce using business strategy
as a guide. This ac%vity demonstrates how understanding business objec%ves can impact
project decisions and, ul%mately, the alignment of the solu%on.
Scenario 1 - Iden%fying Risk for Simple, Small Business Policies - Ans Succeed Insurance would
like certain risks reviewed by an underwriter before a Simple Small Business policy is issued. To
eliminate the need for agents to iden%fy and manually send an issue to Underwri%ng, Succeed
would like to automate the process by crea%ng Underwri%ng Rules for each risk. With this in
mind, they have iden%fied several risks they would like their underwriters to review. However,
they want to avoid underwri%ng rules that would create too many manual approvals.
your thoughts?
- What requirement for an underwri%ng rule did you select to implement?
Explain your choice.
- What informa%on was key to making your decision?
- Did you find yourself wan%ng to know more informa%on? If yes, what did you want to know?
- Why would addi%onal informa%on have helped?
- If working as a group, were all team members aligned with the decision on what to
implement? Why or why not?
,Use Strategy to Guide You:
Now, repeat the same process, but this %me start by reviewing the Business Objec%ves and
strategies for Succeed Insurance.
Succeed Insurance Business Objec%ves and Strategies
1. Achieve improved speed to market by:
Increasing straight-through processing
Increasing business efficiency through improved automa%on
2. Maintain Underwri%ng excellence by reducing loss experience
Note: These business objec%ves and strategies are listed in order of priority.
Knowing that Succeed wants to avoid underwri%ng rules that create too many manual approvals
and, at the same %me, achieve these business objec%ves, which requirement would you
choose?
Conclusions:
Now that you have completed this exercise, you should conclude: without strategy; we will
struggle with alignment and decision-making.
The strategic objec%ves of the business need to be in the forefront of every team member's
mind throughout the implement
Could a project leverage InsuranceSuite to the fullest, align changes with strategic objec%ves,
and s%ll fail? - Ans The answer is, Yes.
Opera%ng without Guiding Principles, is like opera%ng a boat without a rudder - there is no clear
direc%on. Without direc%on, project teams can make decisions that are not aligned with what is
important to the business. Guiding Principles create a culture where evervone understands
what is important.
Unlike business objec%ves and strategies that can change, Guiding Principles are constant. They
provide direc%on for project teams through all circumstances, irrespec%ve of changes in
business goals, business strategies, or type of work.
, Project teams should always have a set of Guiding Principles to follow specific to the project.
Guiding Principles present a set of rules that help project team members make the right
decisions when faced with a choice like:
How to answer a ques%on about a requirement,
How to best solve a problem, and
How to manage scope.
When used in this way, Guiding Principles help project teams navigate difficult project decisions
and increase their chances of arriving at a successful conclusion to their implementa%on.
IMPLEMENT THEN ENHANCE - Ans 1) We are NOT building a system from scratch.
2) We are NOT bound by the way we have always done things.
3) We WILL challenge current processes.
4) We WILL leverage vendor best prac%ces.
5) We WILL drive adherence to PolicyCenter alignment
6) We WILL strive for common workflows, processes, and systems across the organiza%on.
7) We WILL only automate that which can and should be automated.
8) We WILL limit scope as far as prac%cal to accelerate %me-to-market.
A best prac%ce is to distribute and display the insurance company's Guiding
Principles in project work areas.
Establishing Guiding Principles - Ans Guiding principles should be established by the insurance
company's leadership team. Through Guiding Principles, leadership can convey how the insurer
stands on common challenges faced during implementa%on and what is important to the
company. Knowing this will be invaluable to project teams in providing the direc%on to take
when faced with these challenges or a decision to make.
A+ 2025/2026 NEW!!
When requirements are not aligned? (Maximizing product Value) - Ans - Every day, thousands
of decisions are made on a project by people who bring their own requirements and focus
through their area of exper%se.
- These decisions can divert requirements away from the business objec%ves.
The result - requirements that are not strategically aligned.
The impacts include:
- Cost overruns for the project.
Increased technical debt.
- Time to market may delay or prevent benefits realiza%on.
- Team members may be frustrated when not working toward the same goal.
The develop the legacy system they had.
They end up with a system with no value.
- To avoid this, project teams must confirm strategic value alignment.
Every day, thousands of decisions are made on a project by people who bring their own
requirements and focus through their area of exper%se. These small decisions, over %me, add
up and, if unchecked, can divert a project away from the business obiec%ves. The result; the
requirements are not aligned with the h business objec%ves or business strategy.
The impacts of misaligned requirements can be very expensive with %me and money spent
developing unnecessary features. This effort can lead to cost overruns for the project.
Addi%onally, increased development pulls resources away from innova%on efforts and, at the
same %me, increases technical debt with %me spent developing and tes%ng the requirement for
implementa%on and future releases. The addi%onal development %me can be further
,detrimental to financials when the %me to market causes benefits realiza%on to be delaved or
prevented.
Without clarity of project goals, project team members may each have different objec%ves in
mind. This can lead to frustra%on when not all are working toward the same goal.
When requirements are not aligned with business objec%ves, insurance companies can develop
the legacy system th
Confirming value alignment is really all about ensuring that - Ans everything we do, all the
decisions we make, and the solu%ons we develop, are in support of the business objec%ves.
Iden%fying Risk for Simple, Small Business Policies - Ans Let us prac%ce using business strategy
as a guide. This ac%vity demonstrates how understanding business objec%ves can impact
project decisions and, ul%mately, the alignment of the solu%on.
Scenario 1 - Iden%fying Risk for Simple, Small Business Policies - Ans Succeed Insurance would
like certain risks reviewed by an underwriter before a Simple Small Business policy is issued. To
eliminate the need for agents to iden%fy and manually send an issue to Underwri%ng, Succeed
would like to automate the process by crea%ng Underwri%ng Rules for each risk. With this in
mind, they have iden%fied several risks they would like their underwriters to review. However,
they want to avoid underwri%ng rules that would create too many manual approvals.
your thoughts?
- What requirement for an underwri%ng rule did you select to implement?
Explain your choice.
- What informa%on was key to making your decision?
- Did you find yourself wan%ng to know more informa%on? If yes, what did you want to know?
- Why would addi%onal informa%on have helped?
- If working as a group, were all team members aligned with the decision on what to
implement? Why or why not?
,Use Strategy to Guide You:
Now, repeat the same process, but this %me start by reviewing the Business Objec%ves and
strategies for Succeed Insurance.
Succeed Insurance Business Objec%ves and Strategies
1. Achieve improved speed to market by:
Increasing straight-through processing
Increasing business efficiency through improved automa%on
2. Maintain Underwri%ng excellence by reducing loss experience
Note: These business objec%ves and strategies are listed in order of priority.
Knowing that Succeed wants to avoid underwri%ng rules that create too many manual approvals
and, at the same %me, achieve these business objec%ves, which requirement would you
choose?
Conclusions:
Now that you have completed this exercise, you should conclude: without strategy; we will
struggle with alignment and decision-making.
The strategic objec%ves of the business need to be in the forefront of every team member's
mind throughout the implement
Could a project leverage InsuranceSuite to the fullest, align changes with strategic objec%ves,
and s%ll fail? - Ans The answer is, Yes.
Opera%ng without Guiding Principles, is like opera%ng a boat without a rudder - there is no clear
direc%on. Without direc%on, project teams can make decisions that are not aligned with what is
important to the business. Guiding Principles create a culture where evervone understands
what is important.
Unlike business objec%ves and strategies that can change, Guiding Principles are constant. They
provide direc%on for project teams through all circumstances, irrespec%ve of changes in
business goals, business strategies, or type of work.
, Project teams should always have a set of Guiding Principles to follow specific to the project.
Guiding Principles present a set of rules that help project team members make the right
decisions when faced with a choice like:
How to answer a ques%on about a requirement,
How to best solve a problem, and
How to manage scope.
When used in this way, Guiding Principles help project teams navigate difficult project decisions
and increase their chances of arriving at a successful conclusion to their implementa%on.
IMPLEMENT THEN ENHANCE - Ans 1) We are NOT building a system from scratch.
2) We are NOT bound by the way we have always done things.
3) We WILL challenge current processes.
4) We WILL leverage vendor best prac%ces.
5) We WILL drive adherence to PolicyCenter alignment
6) We WILL strive for common workflows, processes, and systems across the organiza%on.
7) We WILL only automate that which can and should be automated.
8) We WILL limit scope as far as prac%cal to accelerate %me-to-market.
A best prac%ce is to distribute and display the insurance company's Guiding
Principles in project work areas.
Establishing Guiding Principles - Ans Guiding principles should be established by the insurance
company's leadership team. Through Guiding Principles, leadership can convey how the insurer
stands on common challenges faced during implementa%on and what is important to the
company. Knowing this will be invaluable to project teams in providing the direc%on to take
when faced with these challenges or a decision to make.
