TY - JOUR
T1 - An agile portfolio management model for the insurance sector
T2 - the APMI model
AU - Dias, Vasco Franqueira
AU - Tenera, Alexandra B.
N1 - Funding Information:
The authors gratefully acknowledge the support on the study by Fidelidade-Companhia de Seguros and Fundação para a Ciência e a Tecnologia (FCT-MCTES) for its financial support via the project UIDB/00667/2020 and UIDP/00667/2020 (UNIDEMI).
Publisher Copyright:
© 2023, IJ ISPM.
PY - 2023
Y1 - 2023
N2 - Nowadays, the increasing uncertainty and instability make it crucial for traditional companies to become more agile and able to act fast on consumer needs and expectations. Therefore, many insurance companies are seeking to increasingly adopt Agile practices to become more effective, faster, and leaner in their critical processes. On the other hand, several companies are strengthening their planning methodologies by implementing Portfolio Management models. These models enable them to manage their initiatives in a more integrated and efficient manner that is strategically aligned, minimizes complexity, and provides higher flexibility when responding to uncertainty. Given the limited scientific knowledge in combining Agile and Portfolio Management (PfM), particularly in the insurance industry, a new Agile Portfolio Management (APfM) model, the APMI – Agile Portfolio Management for insurers was designed and tested, showing how Agile and PfM international practices can be conciliated with current insurance industry-specific practices. Results revealed a high satisfaction level with the model implementation, indicating that the proposed model can foster a greater strategic alignment, increase the organization’s strategic focus, promote transversal alignment and visibility, and support the organization’s capacity coordination.
AB - Nowadays, the increasing uncertainty and instability make it crucial for traditional companies to become more agile and able to act fast on consumer needs and expectations. Therefore, many insurance companies are seeking to increasingly adopt Agile practices to become more effective, faster, and leaner in their critical processes. On the other hand, several companies are strengthening their planning methodologies by implementing Portfolio Management models. These models enable them to manage their initiatives in a more integrated and efficient manner that is strategically aligned, minimizes complexity, and provides higher flexibility when responding to uncertainty. Given the limited scientific knowledge in combining Agile and Portfolio Management (PfM), particularly in the insurance industry, a new Agile Portfolio Management (APfM) model, the APMI – Agile Portfolio Management for insurers was designed and tested, showing how Agile and PfM international practices can be conciliated with current insurance industry-specific practices. Results revealed a high satisfaction level with the model implementation, indicating that the proposed model can foster a greater strategic alignment, increase the organization’s strategic focus, promote transversal alignment and visibility, and support the organization’s capacity coordination.
KW - agile
KW - insurance industry
KW - portfolio management
KW - strategic planning
UR - http://www.scopus.com/inward/record.url?scp=85165387620&partnerID=8YFLogxK
U2 - 10.12821/ijispm110204
DO - 10.12821/ijispm110204
M3 - Article
AN - SCOPUS:85165387620
SN - 2182-7796
VL - 11
SP - 81
EP - 99
JO - International Journal of Information Systems and Project Management
JF - International Journal of Information Systems and Project Management
IS - 2
ER -