The Challenge
A market leading insurer was suffering from an Outwards Reinsurance function that was a highly manual processing environment. There was limited transparency of the performance, accuracy and validation of the outcomes delivered an limited understanding of system limitations outside of the business function itself.
Our Approach
We designed and delivered a Lean Business Process review to examine the Outwards reinsurance functions operational processes and identify the most pressing areas of change. This focussed on
Our Lean business process review, supported by client team members, was structured around a series of 14 workshops to establish best practice in operational processes and tools and determine the need for strategic replacement of key technologies.
The Outcome
The review identified readily implementable changes in working practices and the sharing of tools and techniques to streamline activity. The Lean Review identified multiple actions points to reduce errors and re-work, and freed up capacity to focus resource on more interpretive, value added activity.
A collaborative and valuable engagement. Stratiformis helped break down a complex regulatory subject matter into clear, actionable plans and business outcomes, and supported the end-to-end shaping and implementation of the program over 18 months. Having a trusted advisor and SME alongside our team meant a more efficient and focused delivery overall.
Stratiformis engaged in a focussed and accelerated manner to develop a comprehensive operating model capability breakdown, along with identification of the firm’s critical business processes Given the breadth of stakeholders and the inherent complexity of the processes, this work required both rigor and strong business insight — all of which Stratiformis delivered with diligence and professionalism.