Overview
A global specialty reinsurer had grown into new lines of business and increased its premium over a period of significant growth. Its operating model had been built for a smaller business, which led to challenges around scalability, efficiency and consistency. The executive team launched a major transformation programme to redesign critical operational functions, improve automation and establish an operating model that could support continued growth.
Working alongside senior executives and functional leaders, we assessed current-state operations, identified barriers to scale, and implemented the new teams and processes we had designed. Our final phase was implementation, working with the client on everything from transition planning to the global announcement in Bermuda.
My role covered the three phases of the work:
Phase 1: Agreeing the future model
We worked closely with senior stakeholders to identify the root causes of the challenges they faced and the opportunities to improve. We analysed competitors to understand the options available, tailored those options to the client's requirements, and drove towards alignment with the stakeholder group on which one to take forward into design. Our guiding principle was to shift from a regional model to global centres of excellence.
Phase 2: Detailed design
We designed the organisational structures, governance and technology of the future. Working across multiple workstreams, we created the roles and responsibilities for the new organisation, along with the workflows needed to support collaboration as it scaled. The phase culminated in an implementation roadmap covering the initial announcement, the technology changes, the role consultations and the Day 1 changes themselves.
Phase 3: Implementation and handover
Finally, we executed the change management set out in the roadmap, coordinating the work across the globe. It was satisfying to go to Bermuda and watch the global announcement in person, then work directly with the Chief Transformation Officer as his right hand, seeing the changes through before handing over to dedicated internal change leads.
It was great to see a project through from recommendation to real change, to get early exposure to executive stakeholders at a top-tier client, and to work day to day with the people it would affect.
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Matt Shipp,
Senior Manager