Industrialisation of the Back-Offices for an Insurer

Presentation of the client

Top management of the largest Back-Office in France with respect to the leading Bank-Insurers (450FTE). They distribute services to private and corporate clients in Europe, Latin America and Asia (life / non-life insurance, health, property and casualty insurances as well as protection and savings products)

Context of the project

After the main back-office activity in France exceeded capacity, the management mandated us to clarify the situation and define corrective actions, without making use of additional temporary resources

Our approach

Our diagnosis phase highlighted a considerable lack of human resource monitoring, particularly with external temporary staff on cyclical products.

As the clients were predominantly internal entities of the Group (Consumer Credit branch, Retail Bank for the mortgage, Private Bank for the loans and life insurances…), we implemented a set of key indicators to identify and anticipate management orientations (e.g. An attractive market rate on the mortgages generates a rise in borrower’s insurance), a dedicated indicator to measure product cyclicality and a facility management plan.

In parallel to this we also implemented:

• A significant organisational improvement through the division of tasks (“lean” approach)
• A streamline of the process with the merging of common procedures
• A simplification / redesign of several client approaches (health questionnaire vs. health diagnosis, review of VIP process for Private Banking clients)

Our achievements

• After one and half years of the project we have delivered recurrent annual savings of £3m+(certified by internal Financial Management dpt.).
• We avoided job cuts by absorbing an increase of 20-40% of the volume without additional staff and an improved management of external resources

Definition and implementation
of Private Banking activities backed by Retail

Presentation of the client

Our client is the Private Banking department (Group level) of a multi-national Bank with activities across 20+ countries in Europe, the US and Asia.

Context of the project

The global Private Banking department wanted to implement a new layer of Private Banking services to offer clients above a relevant threshold of assets, in several countries where the Group has a Retail entity. This was aimed at :

  • Implementing first Private Banking businesses in emerging markets to achieve growth / increase the NBI of existing wealthy clients there
  • Increasing the “on-shore” AuM levels and aligning the Compliance policies for HNWI in the target countries
  • Leveraging synergies inside the Group to generate additional revenues while sharing costs (branch, IT) with Retail

Our approach

We supported the implementation of a global partnership between the Private Banking department and the international Retail Banking department, resulting in the development of onshore Private Banking activities backed by the Retail networks in several identified countries with growth opportunities (e.g. Morocco, Czech Republic, Romania, Croatia):

  • Market study to assess growth perspective for Private Banking in targeted countries: underlying economic and social factors, maturity of the market and the competitive environment
  • Definition of the global implementation roadmap (15+ countries)
  • Definition of the target business and operating models for each country (e.g. key elements of the offer, operational processes)
  • Assessment of value creation within 5 years (business cases)
  • Setup of the local projects (work-streams, planning, organisation and governance, …) and global project management / support
  • Definition and implementation of a central organisation to steer and support the Private Banking partnerships

Our achievements

• In 2 years, the Private Banking’s new offer and services have been implemented within four new countries (new branches, new products and services, recruitments, marketing events, …)
• Implementation of a central organisation in charge of assessing, rolling out and steering these partnerships within other targeted countries, capitalising on several previously built assets
• Significant AuM increase while reducing the proportion of “off-shore” assets

Deployment of an e-banking portal for Corporates in multiple geographies and Definition of the e-distribution strategy

Presentation of the client

Our client is the CIB department of a leading global Bank with presence across 50+ countries.

Context of the project

The Transaction Banking and Fixed Income departments wish to rationalise and reinforce the transversal offer of e-banking services for Corporate clients based on a global e-banking portal, serving as a unique entry point to access a full-breadth of products and services (cash management, trade, deposit, FX etc…)

Our approach

For each geography targeted, the support was structured around two complementary axes:

Roll-out of the portal :
  • Structuration / preparation of the roll-out in all countries (business case, clients prioritisation, technical and legal requirements, roadmap, governance, training)
  • Communication and client-facing demonstrations to introduce the e-banking portal services and functionalities
  • Operational management, monitoring and consolidated reporting
 
Structuration of the e-banking distribution approach:
  • Building of client opportunity databases and BI dashboards to monitor the distribution initiatives
  • Identification with local teams of various cross-sell opportunities

Our achievements

• To date our proven approach and our deep knowledge of local contexts (working daily with 15+ different countries) yielded access to the e-banking portal to several thousand client entities worldwide
• The identification of a lack of transversality and cross-product expertise within the respective business lines led our client to redesign, with our support, a new operational approach of the e-distribution, with a dedicated team in charge of distributing the multi-product e-banking portal, leveraging cross-sell opportunities, and initiating concrete commercial campaigns on the field

Realisation & SEO

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