Global Insurance Organisation

The Challenge

As a top global insurance company, this client manages $430 billion in assets, earns $70 billion in annual revenue, and employs about 1,800 people in the region. They are well-known for their strong brand and have built their strategy on offering affordable and reliable products. Partners choose them for their trustworthy claims process, solid underwriting, and stable global reputation.

The company faces a challenge in finding new ways to grow. Changes in regulations and a quickly evolving competitive landscape have disrupted their once-stable business model. They struggle with setting the right priorities, slow decision-making, lack of a strong focus on customer needs, and limited innovation.

The company realized it could grow by focusing more on its customers and becoming more agile in its business approach. This would enable them to better meet customer needs, make faster decisions, and adapt more easily to changing market conditions.

Our Approach

• Introduced a ‘North Star’ and OKR Goal framework to align the organization’s vision with its strategy.
• Restructured lines of business and executive leadership to create a more focused and high-performing team.
• Adopted a ‘value-centered design’ approach to guide efforts toward the most impactful work.
• Created a ‘wayfinder’ strategy using the EPiC Shift Transformation framework to help with planning, setting priorities, and focusing on change activities.
• Restructured all business areas into Value Streams and introduced ‘platforms’ to reduce costs and improve the flow of value.
• Implemented and established a Quarterly Delivery Cycle (QDC) to enhance alignment between strategy and delivery and improve adaptability.
• Designed a custom Target Operating Model to enhance decision-making speed and efficacy.
• Developed a strategy canvas to link vision with delivery, enabling better collaboration across leadership.
• Provided coaching for leaders to navigate and manage transformational change.

Outcomes

• Reduced hierarchy by 4 layers
• 90% improvement in leadership alignment to strategy
• Increased eNPS and decision-making speed
• 54% improvement in alignment of team activities to strategy
• Achieved approximately $12 million in operational savings to date (with 3 more lines of business yet to be implemented)
• Increased focus on customer and outcomes
• “We launched a new product in 3 weeks that previously would have taken 6 months”

These achievements highlight the effectiveness of our Agile Transformation Services in driving significant improvements in performance, efficiency, and customer focus.