We have applied the diverse specialists in our business to achieve significant outcomes for our clients. For example, for a leading Fortune 500 insurer, we reduced operating costs by 25% and proved to the analyst community that these cost savings were sustainable within 18 months.
Our comprehensive TOM covers the nine hierarchical layers of the insurance operations (customer segments, channels, products, processes, data, technology, organisation, people and locations) and is a key enabler for insurance clients looking to embed organisational efficiency.
We design and deliver cost reduction programmes that bring together, under a single powerful programme structure, a host of efficiency initiatives. This includes target operating model design, location consolidation, process re-design, technology enhancement, sourcing change, which create sustainable efficiency gains from insurance operations in a short time frame.
We assist insurance clients – both those new to third party sourcing and those with extensive existing contracts and relationships. Our market leading team works with insurers from development of sourcing strategy through to final contract negotiation and implementation.
The Deloitte claims transformation proposition is based on our detailed experience of designing and running programmes to reduce both claims spend and the operational cost of claims. Our benchmark engagements have removed 25% from the operational cost per claim whilst reducing claims spend.