Other work I have done includes....
Operations Transformation
Q: How do you control escalating costs and protect your Combined Ratio?
A: Take a magnifying glass to your processes.
I know AI is all the rage, but many organisations are not ready to take advantage of this technology - you cannot automate an unstable or undocumented process. This challenge is even more relevant post M&A transaction where the unknowns are more....unknown.
I led a 2 year transformation programme, which delivered $2 million of financial benefits. Starting with a root and branch Process Management exercise to map current processes and create a process control framework provides a springboard to Process Improvement work - where is the waste, duplication and overlap? You can't remove what you can't see. Mapping also opened the door to offshoring opportunities, leaving Underwriting and Ops team members with more capacity to upskill and focus on complex tasks (and write more business!).
Post Brexit restructuring
Following the UK's departure from the world's largest trading bloc, many insurance brokers and carriers were left wondering how to write business without the benefit of passporting.
Other considerations related to the tax treatment of inter-group cross-charging, running into $ millions every quarter. To reduce these sums, I worked with legal and compliance to set up a new Irish branch. This in turn required significant operational changes including a highly sensitive TUPE process, high-risk changes to payroll, corporate credit cards and financial reporting.
Insurance regulation & controls
Regulatory scrutiny from the FCA and most EEA jurisdictions is increasing. The UK and international regulatory bodies (EIOPA & IAIS) also publish new initiatives on a regular basis, which helps our understanding of the likely regulatory change pipeline. Adding Lloyd's requirements into the mix means there is a lot for clients to consider. My understanding and interest in insurance regulation means I can help firms ensure they are not only carrying out the correct activity but crucially they also evidence it.
Change capability & governance
Many clients ask me how change teams represent value for money. And I get it - they are a cost centre. I work with organisations to establish rigorous and transparent change governance frameworks, which enable the tracking, monitoring, reporting and (most importantly) measurement of change initiatives.
Let's talk about optimum project / programme structure, status and RAG reporting, RAID escalation, budget oversight, portfolio and horizon planning and tracking / reporting of project benefits.
I don't tell people how I deliver value for money - I SHOW them!