RaaS – Regulation as a Service
Regulation implementation and integration has become one of the biggest resource consuming challenges in the financial sector especially in the Insurance Industry.
Dr. Agile team, in an effort to demonstrate the value of Agile at the Enterprise IT realm, engaged ina technology venture that leverages the Agile principles and values. This business combined with technology driven Reg Tech venture promotes and demonstrates the power and value of Agile mindset, practices and tools.
RaaS is a technology oriented venture in cooperation with InsurAgility. The objective of the RaaS framework is to decouple the process, the product from the on-going additional regulations in the Insurance Industry by digitizing rules and integrating them easily with Enterprise Applications such as ERP / CRM / Policy Administration etc’.
This technology solutionwill provide insurance carriers with a platform and accelerators to manage regulation implementation such as:
- Regulation implementation workbench
- Impact Analysis Report (which and how processes are affected)
- Implementation Backlog (Jira / SAP Solution Manager ready)
- Design documents (User Stories)
- Effort Estimates
- Micro Services (Rules Catalogs for rules engines)
- Compliance Dashboards
The RaaS solution will integrate with the Enterprise Applications pillars such as ERP and CRM.
Using the RaaS platform as an agile digitized tool will upgrade the core insurance system with modern methodology of change management and an integrated Micro Services architecture.
In addition, it will enable the relevant entities in the organization such as Compliance Officer, Risk Officer, Business Division Officers as well the CEO to meet regulatory requirements more efficiently with an increased level of supervision and control.