InsuranceCase Study

Client is a provider of investment and insurance solutions to 250,000 Americans and over 3 million Canadians. The Company was in the process of restructuring which created an urgency to significantly improve business performance measurement processes. There was a weak link between strategy and performance measurement and a high focus on outcomes versus key driver analysis.

Performance information was not timely or widely distributed and current tools were not sufficient to support needs. The reporting process was extremely people intensive with an 80% focus on low value data gathering and reporting and not enough analysis or drill down to understand “why’s”.

We designed and implemented scorecards for Corporate, Line Of Business and selected support functions with measures linked to strategies and balanced measurement (financial, customer, human & structural capital), including:

  • Clarified goals, critical success factors, drivers and selected supporting measures
  • Defined measurement definition, calculation, reporting frequency and source and developed a prioritized implementation plan
  • Completed metadata and scorecard application development (architecture design, database, UI prototype) for the implementation of scorecards

We also developed and detailed (key process and system work flows) the overall vision for Business Performance Reporting to support the preparation and delivery of scorecards:

  • Identified and detailed the work needed to operationalize the scorecards, including the development of (a) an operationalization plan for scorecard infrastructure process and system set up, and (b) an organization plan for on-going scorecard delivery.
  • Developed and executed change management initiatives supporting the entire project including defining the changes needed to implement the scorecards and create a high performance culture.

The project improved predictability of revenue and earnings, reduced the overall quantity of reports, and significantly improved the quality of information.

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