Insurance Business Model Transition
Situation
The goal of this international insurance company was to implement an infrastructure and foundation for Corporate Solutions’ that would be more suitable for the direct issuer business rather than the reinsurance model. The project would modify the current global target operating model, technology infrastructure, system applications, business processes and organization structure to enable Corporate Solutions to expand and scale as one of the fastest growing units within the organization.
Solution
ADAPTATION was tasked with creating a comprehensive organizational change management strategy. The organizational change management (OCM) program created worked to proactively transition the Corporate Solutions Finance team to a different way of thinking, behaving and working. OCM is oriented around the "people" side of change and focused on the impact that change has upon an individual and group.
We focused on four pillars of the OCM program that were applicable for business adoption:
- OCM Framework
- Stakeholder Groups
- Change, Impacts & Implications
- OCM Change Network
Outcome
The Corporate Solutions change management strategy was customized for the requirements of this client and implemented internally to support the adoption of the new operating model, processes and organization structure. We provided a detailed methodology with specific tasks and a road map to be implemented by this insurance company. They were successful in managing these plans using internal resources with the infrastructure of the change network that Adaptation provided.
