Case Studies
A Fortune 500 international insurance company comprised of three business units: two in the United States and one in Europe. The company is recognized as a global market leader and has been in business for over a century
The Challenge
This US insurance company expects additional stress and challenges as it expands its markets, implements major systems initiatives, and copes with the loss of valuable intellectual capital through employee retirement. Though successful, the company never had a full assessment of its underwriting operations in 20 years. With this in mind, the CEO asked his team for an impartial assessment of the underwriting operations and how it compared to competitors. The team wanted a plan documenting opportunities for improving quality, improving customer service and creating additional growth capacity.
When a large life and annuity provider exited the general agency individual life insurance market, they were left with a shrinking, closed block of traditional individual life insurance policies that continued to require policyholder service and support. For the past few years, their efforts to reduce the cost per policy had been successful.
The client writes over $5 billion in annuity, life, and property and casualty products. The organization’s P&C division had recently redefined its business strategy. This strategy was heavily dependent on the implementation and utilization of emerging technologies for marketing, distribution and product administration.
Investing in technology should never be a gamble. But with multiple target areas for improvement and a myriad of vendors to address them, how can a company be sure that a sizeable systems investment will pay off?
Our client is a top-20 multi-line insurer that serves personal, commercial, and specialty markets. It distributes its products through a network of dedicated career agents and the company has a long history of customer focus and service quality, with a focus on America’s middle market. It is now extending its reach into new states.
Our client, one of the largest life and annuity companies in the United States, had experienced rapid growth in variable products over the last decade. The company had built its market reputation on product innovation and had established their organizational focus on product management.
The leaders of this respected life insurer had a clear objective. A major technological undertaking to convert their life and annuity business operations from paper processing of files to a fully automated, electronic workflow-based system had been outsourced to an offshore development company.
The client is a leader in providing voluntary supplemental benefit products and services for employees and their families at the worksite. The company has more than two million policies in force and serves more than 45,000 businesses and organizations by offering a broad line of insurance products, including disability, accident, life, cancer, critical illness, and hospital confinement.
A leader in life, annuity, and investment products for individuals and employers recently asked for our assistance in delivering rapid process improvements for their annuity client services area. Nolan engaged in a three-month effort that resulted in savings in excess of $2 million on a $10 million budget.
Our client is a mid-sized property and casualty insurer based in the Midwest, serving personal, commercial, and specialty markets. Its products are distributed through a network of independent agents, and it is extending its reach into new states. The company has a long history of profitability and excellence in customer service.