Case Studies

Here are a few examples of the types of projects we have undertaken.

Case Study A

Large Lloyds Insurance Business Integration after acquisition of another Lloyds Insurance business.

This very successful leading Lloyds Underwriting business acquired another Lloyds underwriting business. The project was to support the integration through programme management of all the 100 plus projects covering all areas. Our role was to work with the Board Management to identify the key activities and to scope out the work, craft a plan and then manage the implementation. In each area a detailed benefits case was created and senior executives who owned the benefits, were then held to account for the final delivery of these benefits.

The scope of the work covered Underwriting & Claims, Operations, Systems & IT, Premises, HR Terms & Conditions, Marketing & Brand, Organisational Structure and Finance.

Budget for the project was about $40m with benefits realised of over $100m. In total there were about 100 individual projects sitting under 10 work streams.

Case Study B

Subsidiary Insurance Company of a very large multi-national Insurer major re-engineering of business.

This Insurance business was a very successful start up and had achieved a market share of about 10% in a very competitive market in about 8 years since launch. It had created a number of innovative products and services to attract customers. However, the business was starting to plateau in terms of revenue, but costs continued to rise.

The assignment was twofold. We held an Interim Executive Board Director role managing a large team of people (about 500) across a number of disciplines, including customer service, sales teams, underwriters, and operations. The second aspect was the most important and required us to support a major transformation programme targeting the reduction of costs of about 15% across the business.

The transformation programme covered key issues of Leadership, Performance Management, Governance, Compliance, head count reduction and operational improvement targeting cost reduction.

Most staff members above a junior level were required to reapply for their roles, following some significant reorganisation.

The outcome was a 15% reduction in costs, a major change in the structure of the business and a change in performance standards across the organisation.

Case Study C

A large Lloyds Insurance Business implementation of their Solvency II Programme.

This important regulatory programme of change, internally called Solvency Smart, involved us programme managing the whole SII activity at both an overall level but also at a more detailed level, covering all three Pillars, including data and new finance reporting process.

We worked with the Executive team to craft the governance approach, interpret the regulations and drive the delivery of all the work streams and projects within the Programme.

This included work on the Finance and Actuarial Transformation work in response to the Pillar III reporting and disclosure requirements.

Lloyds scoring of Chaucers SII Programme was Yellow throughout the whole programme cycle; meaning ahead of the market.

Case Study D

An International FTSE 100 Investment Business transformational change of off-shore operation.

This was a major turnaround over a period of 12 months across all areas of the business operation people, processes, customer service, finance, administration and systems.
Phase one involved an assessment of the overall operational position. Phase two required crisis management to gain stability in the operation. Phase three involved making changes to improve the service delivery, staff effectiveness and cross training. Finally phase four required a hand over to existing and new managers.

With growing confidence in the ability of the operation to deliver good service, the next stage was to improve and tighten up on the operational effectiveness. This included the creation of a full set of procedures in accordance with the Guernsey Financial Services Commission rules. A programme of staff cross-training, customer service and telephone technique training was undertaken.

As a measure of the success the business was subject to a detailed visit from the regulator. The operation passed this with flying colours.

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