We worked with a leading European Life & Pensions Consolidator to identify their strategy for potential outsourcing of their IT infrastructure and business processing. There was a desire to simplify the existing operating model which had a high degree of variance across product lines, systems and geographies.
Approach:
A strategic review was completed at group and individual country level to understand the business and products in the context of the wider market, including opportunities for further consolidation and expansion.
A financial model was built to identify the highest areas of benefits for a target operating model against the existing books of business. This was then consolidated into a market assessment of available partnerships or outsourced arrangements within the market. We delivered an RFI and RFP process, which included liaison with vendors and assessing the responses provided.
Results:
We delivered a comprehensive strategy for delivering outsourced arrangements into a variety of different geographies and lines of business, including the most suitable arrangements.
An assessment of vendors provided recommendations for how these arrangements could be delivered with an implementation plan based on transitional states towards a target operating model, accounting for existing business lines and potential new acquisitions.
