After a major acquisition, a leading insurance provider undertook a large-scale integration that would reinvent operations across all its business functions.
A leading global provider of insurance, annuities and employee benefit programs that serves 90 million customers in over 50 countries acquired a large global insurance organization and saw a new opportunity. Now was the time, company leaders realized, to create a more efficient global company by focusing on growth, synergies, and collaboration. Such a sweeping worldwide integration would be a huge challenge. It was imperative for the company to reevaluate its entire operating model and organizational design to improve its agility, increase collaboration across the organization, and ultimately drive growth.
The cross-functional project we helped design impacted virtually all the business units and supporting functions of the client's global organization. We established collaborative teams with the client across each of the six functional areas (Finance, HR, IT and Ops, Marketing, and Strategy) and three global regions. An initial boot camp and a series of interviews and data collection efforts got the teams aligned on strategy, roles, deliverables, and timelines. We worked with the client to align the dependencies, metrics, and strategies across all the regions and produce operational playbooks that would bring consistency to worldwide operations.
Today the client is indeed the largest global life insurance and annuity provider, and it is a much more streamlined and matrixed organization. Our continuing work on the overall enterprise strategy, which directly supports the Office of the Chairman, focuses on identifying the critical capabilities, talent needs, and interdependencies of the firm. We continue to help the company transform its business to meet the needs of its global customers and to meet its many goals for growth, profitability, penetration, and improved customer service.
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