Design and implementation of digital growth strategies: new information and communication technologies as well as exponentially increasing data availability, computing power and storage capacities are driving change in insurance companies. Customers and sales partners are embracing digitalisatio, while acting more autonomously, yet with greater demands. New players in the market are using digital technologies to enter the market, while industry boundaries are merging into digital ecosystems. This creates opportunities and risks for insurers. We help our customer identify new growth areas, evaluate digital business models and implement strategic measures. 

Our services (extract):

• Evaluation of new business areas based on business cases and initial actuarial assessment
• Development of new digital products and business models, such as integration with related industries (e.g. housing, mobility, health) by combining insurance products and services with distribution via digital platforms
• Actuarial and technical evaluation of digital products and business models and definition of an implementation roadmap

Design and implementation of a company-wide integrated innovation management: the main objective of innovation management is to increase competitiveness and support cultural change through the use of digital tools and agile methods. Many companies rely on creating innovation internally "by their own efforts". The potential to change through collaboration and acquisitions remains untapped for fear of incalculable transaction and conflict costs.

This is where innovation management can make its contribution by preparing the decisions for or against an initiative in a leading and structured manner. It collects and generates ideas, tests and evaluates innovations and makes them ready for implementation. We help our customers to increase the innovative power in their companies and to establish a standardised innovation process.

Our services (extract):

• Definition of fields of action to increase the innovative power, e.g. optimisation of the innovation culture, improvement of networking and development of the ecosystem
• Implementation of an innovation playbook, including recommendations for the introduction of digital tools (e.g. language and semantic analysis in the area of contracts, image recognition in the area of claims) as well as for the introduction of new agile working forms and methods such as SaFE, rapid prototyping, design thinking
• Establishment of a standardised innovation process with clearly defined quality gates (screening, idea management, evaluation, piloting, initiation, implementation) including KPIs, tasks, roles, competencies, decisions

Introduction of lean and virtual forms of organisation: in many companies, cross-functional and cross-departmental cooperation can be improved. Conflicts of competence and objectives are often structural. As a result, it is hardly possible to align business processes with customer needs. An agile, virtual and adaptable organisation can increase the performance of the company to keep up with the speed of the market. Agile methods provide the greatest benefit in areas of high complexity. In areas with standardised procedures and clear target parameters, e.g. in the areas of contract and claims processing, an organisational form that focuses on standardisation and automation is more worthwhile. We support our customers in finding the right organisational form with the right dose of agility.

Our services (extract):

• Identification and definition of relevant fields of action to streamline and flexibilise the structural and process organisation
• Evaluation and prioritisation of the fields of action
• Definition of a roadmap for the implementation of the prioritised fields of action and support during implementation by PL, PMO, technical experts

Creation of transparency in core processes and process automation: in recent years, simple control processes have been automated by renewing existing systems. In many companies, the levels of automation already achieved do not yet meet the original expectations, meaning that causes for the failure to meet targets and means of achieving them are being sought.

At this point, process mining can be used to carry out transaction data-based process analyses, e.g. for contract creation or claims processing. An actual core process with its numerous variants is visualised end-to-end in a data model. Based on this, improvement and automation potentials can be identified and hypotheses for optimisation measures (e.g. avoidance of duplication of functions, introduction of RPA, sourcing) can be substantiated. We support our customers in the evaluation, prioritisation and implementation of appropriate measures for process automation.

Our services (extract):

• Evaluation of potential core processes for the use of process mining and RPA
• Implementation of a first pilot project including evaluation of the results
• Support in the implementation of prioritised measures by PL, PMO, technical experts

Establishment of data-based business models and decisions: by carefully analysing big data, insurers can optimise risk assessment, improve pricing accuracy, develop tailored products and services, attract new customer groups, build better customer relationships, streamline operations and enable more effective loss prevention. In order to develop into a data-based company, a vital data DNA in the workforce is required in addition to an individual data strategy, functional data governance and a data-based service portfolio. We support you in your transformation to a data-based company.

• Definition of a data strategy: in order to generate values from data ("From data sets to data assets"), a company-wide data strategy is required that enables the company to collect, process and use data. A data strategy helps to use existing data and data to be tapped in such a way that the company is able to establish new data-based business models, optimise internal processes and identify business risks in good time so that appropriate measures can be taken.
• Introduction of data governance: In order to overcome the structural hurdles of the company organisation, the operationalisation of the data strategy requires a company-wide governance that enables transparency and decision-making. By introducing guiding principles, processes, roles and decision-making bodies, this regulatory framework ensures the ability to act for all parties involved, so that the use of data is not bureaucratic in the interests of all parties involved and the ownership and use of the data used is clarified.
• Development of data services: in order to use the value of data for the benefit of the company, services for internal and external marketing must be developed. Based on the data strategy, we recommend the introduction of a "playbook". An analytics playbook is a comprehensive guide that describes which data is used in which way, which parties (e.g. business, IT, partners) work together in which way, which investments are worthwhile and which use cases are implemented in which order. The focus here is on the research, testing and marketing of data-based services.
• Establishment of data culture: in a data-based company, employees understand the value of data for the success of the company. Employees understand, think and act in a data-oriented way, they possess a vital data DNA, so to speak. We support you in the transformation of employee DNA. We help you to define a tailor-made change programme at company level and carry out selective training for employees in the individual functional areas in order to sensitise and empower employees in dealing with data and models.