Prudential says it has improved the productivity of its software development by 5% to 7% after achieving a process quality benchmark.
The firm is the first UK insurer to reach level 2 of the Capability Maturity Model Integration, which assesses planning, management and quality assurance of IT programmes.
Prudential won the accreditation following an external assessment by Gartner after an 11-month drive to improve its product management processes.
“We had to show we knew whether our projects were on time and on budget and that we were managing risks, week to week and month to month,” said Colin Wileman, deputy chief information officer.
Prudential, which has 450 software developers, said preparing for the accreditation had helped it reduce the number of serious errors in code.
“For most of the past six months we have been running at below three severity 1 level errors a month,” said Wileman.
The insurer is preparing a business case for a severity level 3 assessment. CMMI offers five levels of assessment, which require increasingly stringent process controls.