Insurance

Developing a contemporary customer experience - in the face of relentless regulatory demands, tough competition and pressure on capital

Issues – set by a challenging market
“Digital native” consumers are raising the customer experience bar for insurance brands. From online presence, through the claims process, to renewal, successful companies must provide engaging access to innovative products and seamless service styles. For Generations X and Y, speed, convenience and product portfolio visibility across multiple channels are basic expectations. Satisfying their requirements and growing market share demands innovation, agility and creativity.

Customer expectations are just one - crucial - aspect of the operating context. Add in regulatory reforms and associated compliance obligations, aging IT infrastructures, difficult economies and capital pressures. Then consider the mergers and acquisitions climate with its inevitable integration challenges. The result is a market environment in which the successful insurers of tomorrow are not standing still today.

Answers – from people who ask the right questions
Capco offers experienced delivery support and strategic counsel from practitioners who know the insurance industry every bit as well as they understand the fabric of the technology. Although many institutions face broadly similar challenges, every situation is unique. So we begin not with a “technology sell”, but simply by asking: “what are the business issues you want to overcome”? Then we apply proven expertise. We deliver all the way - from initial consultation on strategic priorities and ambitions to concept, design, build and operation of solutions that transform existing capabilities to meet market challenges and shape the future.

To help gain and sustain competitive advantage, our professionals collaborate with technology, business and systems integration partners to support client innovation and agility in the following areas:

Program Delivery – We help deliver programs, meeting business requirements, on time through:

  • Program Mobilization - shaping projects for successful delivery
  • Program Implementation (Transition to Live) – delivering complex, large scale programs on time, coordinating business requirements and external market considerations
  • Program Re-orientation - re-shaping projects that are already inflight but require significant re-mediation, and then delivering to success

Business Transformation and Innovation - We help organizations to become more agile and to use

innovation across the organization, for both cost efficiency and revenue effectiveness, through:
  • Target Operating Model (TOM) – avoiding ‘more of same’, Capco brings innovative methodological approaches and ideas, delivering an operating model to enable organizations to execute their strategy and achieve their strategic ambition
  • Digital Strategy – working closely with you to define, shape and implement your digital strategy, whether for distribution, sales or service, to help position the organization for growth and success
  • Strategic Sourcing – helping you get the best out of your vendors to deliver to the goals you intended. With outsourcing and offshoring arrangements now playing such a significant role, vendor management has never been more crucial.

Technology Services - We assist you to reshape IT platforms and IT support for cost reductions, improved customer service and delivery against regulatory requirements; we can:

  • Shape IT strategy –helping you define strategic architecture and requirements for the business, aligning to the state of your current technology
  • Transform IT – implementing the IT strategy through to reducing IT complexity and creating a platform for growth, we work across the organization’s end to end systems
  • Manage –program managing your IT delivery, working either directly with you, or with your external partners to help achieve your business and technology goals

Risk Management – We address the core components of your risk mitigation requirements in the following ways:

  • Risk Management and Governance – working with you to create a no-surprises framework for risk management and monitoring
  • Risk Management Framework Validation and Mitigation –bringing our experience and skills to validate your current risk management framework and help you refine existing frameworks for robust risk management
  • Regulatory Compliance – helping you deliver large, complex programs of work across the organization, to ensure you meet your compliance obligations

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