Operational efficiency

Many companies have tried to streamline processes in response to the resulting financial and economic crisis, but often did not reach the expected savings or were not able to secure change within the company.

Increasing the efficiency of operation support processes in insurance companies is perceived as an important means of maintaining profitability despite difficult market conditions. In addition to maintaining profitability, it is essential to respond to demands for greater transparency, faster access to information and effective communication with the client. The increasing use of the Internet and various applications leads to increasing demands of clients on the insurance companies. Clients increasingly use electronic communication with the insurance company to avoid needing personal visits. We expect that this trend will continue in the future and timely responses to the increasing demands of clients will be inevitable to maintain market competitiveness.

Companies looking at the crisis as an opportunity to re-establish processes, with the aim of achieving sustainable growth and efficiency, are currently considering the use of synergies from the centralisation of activities, simplifying products and eliminating unnecessary activities. Simplification can contribute not only to cost saving, but it can also strengthen management controls and improve overall functioning by setting realistic and feasible goals for the future.

How we can help

• Review and streamline of processes in the area of operation (back office, liquidation, call centres, collections and IT)
• Establishment of shared service centres, outsourcing and centralising processes
• Cost optimisation
• Reward systems design
• Introduction of lean principles in process management 
• Streamlining the process of recovery