A multi-national general insurance run-off and consulting services company
Reporting to the group CEO and a member of the executive leadership team for a global general insurance run-off and insurance services group, read shepley’s interim executive led the organizational transformation programme. The key focus was resolving strategic and operational challenges relating to the run-off services business units.
The general insurance run-off market was contracting. To maintain financial performance, the highly skilled workforce needed to transform and diversify, moving into new market sectors. The main investor wished to sell the services company following the transformation.
The transformation work included:
- addressing financial performance, both growth and cost management in line with strategic goals. This was achieved through building the executive team structure and leadership development, including global sales performance management.
- Executive activities were focused on the diversification of clients and markets, through the development of new service propositions. The new propositions included, claims management services, consulting services and risk & audit solutions.
- All organizational processes were reviewed for compliance with regulatory requirements; management performance indicators with supporting business information were developed.
- Development of website, global intranet exchange of best practice and improved focus on technological support, optimising relationships with external partners and integrated communications.
- Drove post-merger benefits following an earlier purchase of a related services company. The risk and audit related business has since increased threefold. The integration work led to the mono-branding of the services businesses.
- The business was successfully sold.