Home » Insights » Spotlight on Mimi Munchetty: A powerhouse in delivering Digital Transformation in insurance.

Spotlight on Mimi Munchetty: A powerhouse in delivering Digital Transformation in insurance.

We are privileged to sit down with Mimi Munchetty, Board Director and Senior IT Delivery Director at Alchemy Technology Services. Mimi brings a wealth of experience in IT leadership, with a remarkable journey that includes significant roles in Transformational Change, Technical Delivery and IT Service Operations.

Join us as we delve into her passion for technology and modernisation, her insights on acquiring r10, the challenges and opportunities she sees in digitally transforming the insurance industry, and her role as a woman in leadership.

Can you share your journey in IT leadership and highlight your time with the Zurich Global Guidewire Team? What ignited your passion for technology and modernisation?

My journey in IT leadership has been an exciting one. I’ve worked with some incredible teams and organisations, including my time at LV=, QBE and now at Alchemy leading a Global Guidewire Team for Zurich. Throughout my journey, I’ve developed a deep passion for technology and modernisation, as I’ve witnessed the transformative benefits that it brings. My current role as lead for the Global Zurich Guidewire Team is both challenging and innovative, allowing me to support multiple global Business Units with Guidewire related topics whilst building a team to support Zurich’s Guidewire strategy.

Can you share why you decided to join Alchemy?

My decision to join Alchemy was driven by a belief in the company vision and culture alongside the opportunity to build, transform and grow a global centre of excellence for insurance software implementation. Community plays a key part in our founding missions and values, and I feel privileged to play a part in the socio-economic recovery of the community in Northern Ireland.

I received a call from our CEO (John Harkin) in 2020 with an ‘opportunity’… Anyone that has worked with me before will know that I always run towards a fire, rather than away from it! This client had faced a number of challenges as they implemented Guidewire InsuranceSuite. Their migration project had been running for several months with little tangible progress being evident. A migration strategy had been formulated by the client however, this had resulted in several obstacles which had delayed the migration of claims and policy data. The support contract for the legacy policy and claims systems was also coming to an end. To overcome these challenges, I was brought in to lead and complete their Data Migration. I utilised my experience in Guidewire programme delivery and mobilised a team experienced in Guidewire project management, technical architecture, business analysis, development and software testing. It was a relentless program that ran for 11 months, all of us involved can stand proud successfully completing the client’s migration and legacy decommission.

Could you elaborate on your capabilities and expertise, especially with your 15 years of insurance experience?

With a career spanning 15 years in the insurance industry, I bring a wealth of experience in understanding this complex industry, particularly in the Guidewire space. My role at Alchemy spans Sales, building client relationships, providing leadership and mentoring to our teams whilst supporting our clients to build internal teams, turning around failing delivery functions and instilling the disciplines required for them to be sustainably high-performing. We combine r10’s London Market expertise with Alchemy’s technical proficiency to offer seamless digital transformation for our clients, from strategy to implementation.

The recent acquisition of r10 by Alchemy has been a significant move. Can you tell us more about how this acquisition is set to benefit our clients?

The acquisition of r10 signifies a blend of technical excellence and industry knowledge across the insurance value chain. Together we bring the strength and expertise to offer our clients an end-to-end solution, bridging the gap between business and technology. We can help our clients navigate the challenges of a complex IT landscape and provide them with innovative solutions tailored to their needs.

What are some challenges that you and our clients currently face in digital transformation?

The challenges we’re seeing encompass the cost of managing and running Technology teams, complex and costly IT landscapes, and the need for automation. Additionally, insurers are striving to keep pace with the ever-increasing demands of their customers.

How can technology support insurers in overcoming these challenges?

Technology has the power to digitally transform a business through the use of automation. With collaborative working across Technology and business teams there is an opportunity to harness the use of data analytics. Insurers that invest in data & analytics and focus their ‘system of record’ into a ‘system of insight’ can improve their underwriting, using the insights to analyse market position and competitiveness. Those that perform claims-trend analysis can leverage these insights to optimise product features, operating models and maximise the expertise in their teams to enjoy better operating results and performance.

You have noted that Alchemy has some great female technical resources. Could you expand on this and share your insights on diversity and inclusion in the workplace?

I’m pleasantly surprised to see that Alchemy has many female technical resources. This reflects a positive trend of more women pursuing technical degrees and performing key technical roles. I have seen positive changes during my 25 years in Technology but there’s still work to be done to achieve full gender diversity and equality in the Technology and Insurance industries.

As a woman in leadership, can you provide some insights into your experiences and how you influence and inspire your teams about diversity and inclusion in the workplace?

As a woman in leadership, I strive to be a good role model and advocate for equality, diversity and inclusion. I aim to foster an inclusive environment where everyone feels valued, empowered, and inspired to reach their full potential. Integrity and focus are important to me, being able to deliver on your promises and leading by example to encourage and support others is key.

What role do you play as a mentor, and why is mentoring significant in fostering leadership and career growth, especially for women in IT?

Mentoring is essential for personal and professional growth. At Alchemy we don’t rely on traditional hierarchical structures, instead we have created a mentoring programme to support the growth and progression of our people. Alchemy’s mentoring programme is one of the ways in which we encourage our people to support and share knowledge with each other, enhancing their own performance and creating a successful company. Alchemists are matched with a fellow colleague who has travelled further along their career path to share the experience they have gained along the way. Both mentors and mentees receive training and peer support to ensure that constructive collaborative relationships, and networks are a natural part of life at Alchemy.

Looking ahead, what are your future aspirations in your role at Alchemy and with the newly joined r10 team, and what contributions do you aim to make to the insurance industry?

My aspirations are to continue to drive innovative and transformative solutions for our clients. With the combined strength of Alchemy and r10, we are able to diversify and expand our offerings to our clients. I am excited to leverage the enhanced pool of resources and expertise within our organisation, this strengthens the support and counsel that we offer our clients, continuing to make a meaningful impact in the digital transformation journey for insurers.

Share this page