Financial Foresight: Cost Management for Insurers
Competing effectively in a slow growth environment
As with others in the financial services industry, insurance has been impacted by the economic events of the past few years, on top of slow growth rates associated with a mature industry. This report discusses how insurers can position themselves to thrive in a slow growth environment. This may be accomplished by reducing expenses through the alignment of their cost structures and operating models to the strategic priorities of the business.
The report specifies:
- Four fundamental questions that must be answered to design a strategic cost management program
- Four cost management levers to effect change, and when to apply each one
- A cost management culture checklist to incorporate efficiency in the organization’s DNA
Case studies are provided to demonstrate the effectiveness and practicality of adopting a strategic cost management approach.
Download the full report to learn more on this topic.