Insurers are continuing to face increasing market difficulties that hinder growth and profitability.
Industry challenges include:
- Creating effective strategy.
- Taking advantage of opportunities and ensuring business model growth.
- Managing risk and regulatory complexity.
- Enhancing ERM (Enterprise Risk Management) frameworks and building out quantitative assessment of risks and capital.
- Process and Systems improvement, helping with strategy to manage an aging industry workforce and improving operational efficiency.
- Corporate Governance.
Some of the ways that FLEX Consulting can help:
- Improve the efficiency of portfolio management of internal initiatives and customer-facing product implementations to boost productivity while reducing cost.
- Provide multi-layered analysis of government and private contracts to reveal the true cost and value of business and inform strategic customer acquisition strategy, while increasing fiscal accountability for Management and Executives.
- Increase profitability and productivity through infrastructure analysis and business process improvement that identifies inefficiencies and wasteful spending.
- Provide key expertise and oversight, help manage risk and regulatory complexities.
How we've helped others:
- With WEA TRUST, FLEX Consulting performed a full analysis of current procedures, including program, accounting, and business operations. As a result, analysis and controls saved WEA TRUST gained significant savings, reduced excessive resource use, and led to several unprofitable programs being discontinued.
- For WPS Insurance,FLEX Consulting provided a strategy for downsizing and merging of current IT PMO, EPMO, and Product PMO groups. Reduced resources need, created centralized portfolio management process, updated change control management, and provided updated metrics for budget vs actuals.
- For WellPoint (Anthem Blue Cross Blue Shield), FLEX Consulting implemented LEAN Kanban, merged PMO’s between city locations and lead project implementations with teams of 100+. We provided program management for multiple integrations including Healthcare Portal, Salesforce, Oracle, and IBM. post integration implementation FLEX Consulting provided analysis of budgeted vs actual costs.
- With Amerihealth Caritas, FLEX Consulting turned around a program that had been in decline for some time. First we defined realistic expectations for deliverables needed from different business teams, products, states, legal teams, and technical teams. In the first 30 days we set new budget expectations, hired/fired/reallocated resources, and completed the Consent Form Repository and Universal Form implementation. IT infrastructure was moved to the cloud, and everything was brought into full compliance. In the end Discovery, Design, Implementation, and Release was completed for $4M, less than 20% of the original budgeted cost.