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  • Process Redesign
    • Non-Profit Media Organization
    • Large Health Payer
    • Commerical Lines P&C Carrier
    • $1.5B Specialty P&C Carrier
    • Specialty Commerical P&C Carrier
    • Commerical Lines Residual Market Professor
    • Largest Illinois Health Insurer
    • Large Life Insurance Company
    • Largest Provider of Pre-Paid Cellular
    • $5.5B Int'l Transportation Manufacturer
    • $25B Healthcare Payer
  • Sourcing Advisory
    • $2B Healthcare Payer
  • Due Diligence
    • 2 Large P&C Reinsurance Companies
  • Subrogation
    • $2B Healthcare Payer
  • Healthcare
    • Large Health Payer
  • P&C
  • Life
  • Other
$1.5B Specialty P&C Carrier

Client: $1.5B Underwriter of Specialty P&C Insurance

Industry: Property & Casualty

Project Type: Redesign and Implementation


Business Issue:

In the property and casualty insurance market, effective processes had never been more crucial. To capitalize on new opportunities, this insurance company needed to centralize its approach to developing products and produce a consistent and efficient process to satisfy customers and provide timely, high-quality products.

Actions:

  • Delivered an Operations Strategy that focused on the Product Development process within the Commercial Specialty division
  • Implemented a process for product development
  • Consolidated more than 25,000 products to a central electronic location to provide employees with easier access to and identification of all existing products

Results

  • Reduced the time required to develop a quality product by 25% on average and by as much as 70% for specific product development sub-processes
  • Improved product quality by 15% to 25%
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