Background

The client, a top 10 global insurance broker by revenue, had been growing rapidly—projecting 85% revenue growth over five years. As exciting as this was, it introduced new challenges that required innovative and strategic solutions to solve.

Of utmost importance was building a solid foundation for the business’s current state and future vision. Investments in modern technology, radical transformation, and increased adoption of automation were needed—all while developing and optimizing global processes for efficiency and scalability.

A service provider that could collaborate on a solution customized to the client’s unique needs was needed—one that would stay invested in the client’s growth journey—a provider with extensive experience in enterprise operations and transformation. Enter Deloitte.

The impact: Enterprise operations transformed

Deloitte worked with the client to assess current and future states, providing a custom solution to eliminate present roadblocks, develop a path for future growth, and create synergies in running operations to generate savings.

1. By outsourcing resources strategically while investing in technology, challenges were comprehensively tackled while balancing risks and operating true to the client’s culture.
2. By investing in a new shared services center, the costs of implementing the technology modernization solution were offset through anticipated savings from the new operating model.
3. After setting up the shared services center and migrating operations from the incumbent vendor, the new operating model allowed for continuous improvement and transformation.
4. Improved coordination between shared services and technology teams translated into effective validation and knowledge transition by leveraging the same team.
5. The centralized nature of the services center and new standardized technology platform enabled processes in other offices and countries for standardization and scalability.
6. Synergy between the shared services center, technology, and change management enabled faster transition of new processes and tools, bridged automation gaps, and tightened governance—improving cost of finance as a percentage of revenue from 1.02% down to 0.89%.
7. Transformation and continuous improvement efforts helped further automate growth and reduced risk, errors, and inefficiencies.
8. Value stream mapping and study of up- and downstream process flows revealed nonvalue adds within processes that could be eliminated.

Start your transformation journey with Deloitte

Deloitte’s experience is nontraditional in the marketplace. Our view? Every client situation is unique. We’ll make the journey together with you.