Insurance Practice Case Study: End-to-end re-platforming for UK-wide insurance broker in 8 months

Challenge

A UK-wide insurance broker (the client) needed to implement a new online broking platform due to pressure from the regulator. It also needed to do this to a strict FCA-mandated deadline and lacked the appropriate inhouse experience to deploy the new platform to the required timescales.

 

Solution

  1. Diagnosis and recommendations

Working closely with the client, we selected an interim Transformation Director and Head of Technology to carry out a one-month deep-dive diagnostic report into the broker’s needs for the new platform, with specific and actionable recommendations for deployment.

Once the client had agreed with the report’s recommendations, the client asked the Transformation Director to deliver the recommended re-platforming programme.

  1. Delivery team assembled

To deliver the programme, the client required an experienced team. We worked with them to select and onboard a bespoke team of eight change consultants within weeks.  

  1. Delivery

The consulting team deployed the new broking platform within 8 months, replacing all existing retail business software. They renegotiated commercial contracts and implemented departmental restructuring and selective service outsourcing, as well as reviewing and enhancing the customer journey and back-office processes to improve operational efficiency. Lastly, the consulting team built a continuous improvement function to embed customer-centricity and introduce Lean and Agile methodology.

 

Results

  • New digital broking platform deployed within 8 months, ahead of FCA-mandated deadline
  • Migrated 1.5m customers onto new platform
  • Reduced like-for-like IT cost by 50%

Share this

Sign up to our Newsletter Mailing list


Get in Touch

For more information on any of our news articles

Contact us