In this leading professional services provider’s journey toward becoming a top player in the global insurance industry, a significant global technology transformation was embarked on.

Company Profile

A leading professional services provider, this company employs 5,000 staff across 116 offices in 32 countries. They specialise in offering solutions to the global insurance industry. Its 8 subsidiaries span various services including insurance management, claims services, and technology.

CEO’s Mission

Aiming to position the organisation as a top-three global leader in selected sectors, the CEO identified the need for additional financing to support organic growth and strategic acquisitions. The company’s technology function, burdened by outdated legacy systems, was a bottleneck hindering growth. To combat this, the CEO appointed a seasoned CIO to lead a transformative strategy, making the business technology-enabled and growth-driven.

CIO’s Objectives

  • Lead the development and transformation of the Technology Function.
  • Formulate a 3 to 5 Year Technology Strategy for a global technology transformation.
  • Orchestrate a comprehensive transformation program to the desired operating model and architecture.
  • Redesign the Enterprise Architecture to reduce cost, enhance quality, and stability.
  • Foster innovation with emerging technologies to enhance value propositions.

What The CIO Did

Provided Leadership And Strategic Direction

The CIO conducted a comprehensive evaluation of the technology function and business landscape. This involved identifying critical operational model gaps and skill shortages, and presenting a cloud-first 5-year strategy to the board. This has the aim to secure significant funding for transformative initiatives.

Designed And Delivered A Transformation Program

With an approved strategy and secured funding, the IT Leader developed a multi-year transformational roadmap, divided into four streams: operating model and organisation, global infrastructure and security, application rationalisation and modernisation, and innovation and value creation. These streams were led by a dedicated transformation team, focusing on creating a secure, cloud-first infrastructure platform, rationalising applications, and fostering innovation.

Drove Efficiency And Enhanced User Experience

The implementation of SaaS products automated numerous tasks and introduced a master data management strategy, delivering valuable insights and improving decision-making within the insurance underwriting sector. The standardisation of platforms led to application rationalisation, streamlining operations, and enhancing user interfaces and workflows, placing technology at the forefront of the user experience.

The Results

  • Guided a team exceeding 100 employees, achieving an impressive engagement score of 85% 
  • Pioneered the adoption of a cloud-first strategy, resulting in a substantial cost reduction of 40%  
  • Optimised operations by replacing over 400 legacy applications with 150 new SaaS solutions, driving a notable cost reduction of 30% in areas including PAS, reinsurance, and claims technology.  
  • Set up a Finance and HR shared services centre, implementing Dynamics 365 and Sun.  
  • Spearheaded a revamp of the service delivery model, yielding an 80% reduction in incidents. 
  • Conducted thorough due diligence on 45 potential acquisitions, successfully completing 11. 
  • Established a robust information and data security function, attaining ISO27001. 
  • Member of the executive team that steered the overall business to a remarkable threefold growth.