A top ten regional insurance provider was looking to grow and scale up operation and efficiencies in order to achieve at least a top-five position in the market. However, the company was facing increased competition and regulations. Competitive pricing placed further pressures on operational spend and required a significant focus on capital and liquidity. Further, due to legacy systems, their cost structures were higher than the competition. As a result, they were losing market share and facing changes in customer behavior who were demanding more reliance on IT.
The company executives sought Nuummite Consulting to help with scaling up the IT infrastructure, restructure certain business functions, and establish a complete project management framework in order to achieve their goals.
Transformational Approach
- Conducting Executive level workshops resulting in vision and strategic goals the were detailed into actionable items.
- Developing a Five-year business plan with detailed operational initiatives
- Performing a Full IT Audit and Roadmap to digitize the processes and increase efficiency
- Developing Process documentation and optimization
- Forming Five year KPI’s and targets to work towards becoming a top five insurance provider
- Project Management for the implementation approach and follow up.
Remarkable Results
35% increase in media spend ROI
Over 100% increase in consumer traffice
Improved visibility of various shows and increased viewership
Development of a management and leadership dashboards to track key performance indicators
Creation of a 360 view of the customer
