Insurance Benchmarking – towards efficiency and service excellence
Our client, a Singapore based Investment Bank representing a leading Insurance group, was asked to assess internal Technology and Operations spend and service metrics for the insurance group companies in India, both Life and General Insurance, and benchmark these to key peer / competitor companies. The objective was to identify areas of operational, service and cost improvements, mapped against competitors strategic intent.
Scope and Plan
Identify peer companies. Develop plan for data sourcing and analysis
Secondary data collection from published sources. Primary interviews and surveys
Analyse & Recommend
Data modelling, analysis and key recommendations
- Operations: Benchmark report on service standards vs. costs – benchmarked to peers. Prepare operations and customer services for growth and higher scale
- Technology: Benchmark report on IT service standards, capabilities vs. costs – benchmarked to peers.