Current State Analysis - As Is assessment

Current State Assessment and Analysis- Business Transformation and Post-Merger Integration

Our client was a leading diversified financial services company with primary interests in asset management across traditional and alternative asset classes. Client had acquired a Life Insurance company and was starting the process of  integration of Life company into the Group.

The client had stated its ambition to achieve a dominant position in the Life Insurance sector over time. A key component of this ambition is to build a retail distribution channel focussed on the mass affluent segment.

The client retained MAGI to assist in the development of a strategic plan for the business by conducting a detail Current State Assessment of the Business to identify key issues, challenges and opportunities.

current state and audit


Our client faced the challenge of comprehensively assessing its current state. This assessment was critical to pinpoint operational gaps, regulatory compliance concerns, and potential areas for optimization.

Navigating through complex regulatory frameworks, managing diverse distribution channels, and ensuring seamless customer experiences are just a few of the challenges our client encountered. With their recent acquisition and ambitious growth targets, they recognized the need for a thorough analysis to strategise their transformation journey.

Our challenge was to conduct a comprehensive Current State Assessment and Analysis that would provide the client with a holistic view of their strengths, weaknesses, opportunities, and threats. By addressing these challenges head-on, we aimed to pave the way for an informed and effective transformation strategy that would maximise their potential in the competitive life insurance sector.

The biggest challenge was that the life insurance company acquired by our client had a lack of documented processes, weak controls and organisational silos with information leakages, making it challenging to receive accurate and timely data on business performance and process controls. Completing a comprehensive current state assessment required us to approach the challenge in innovative ways.


Approach: Through detailed interviews with stakeholders and rigorous review of relevant documentation, we gained deep insights into the regulatory framework, product portfolio, distribution channels, marketing strategies, operations, and customer services.

Scope and Methodology: Our approach was centered around a thorough and systematic examination of every facet of the Life Insurance Company’s operations. We adopted a comprehensive scope to ensure that no detail is overlooked, allowing us to provide a holistic evaluation and actionable recommendations.

Product Portfolio Review

Through in-depth analysis, we evaluated the company’s current suite of insurance products. We scrutinised the product offerings, their alignment with market demands, pricing strategies, and competitiveness. This assessment helped us identify product gaps, potential for innovation, and strategies for enhancing the product portfolio.

Distribution Channels

We engaged with stakeholders involved in different distribution channels, such as the agency, bancassurance, and broker channels. Detailed interviews and performance analysis allowed us to comprehend the effectiveness of each channel, identify strengths and weaknesses, and propose strategies for optimisation and alignment with the company’s goals.

Operations and Customer Services

Through a comprehensive evaluation of policy administration, underwriting, claims management, and customer services processes, we identified operational bottlenecks, redundancies, and opportunities for streamlining. Our analysis included a review of documented procedures, internal audits, and customer feedback.

Regulatory Framework

Our team met with the regulatory body to understand the regulatory landscape and collaborated closely with regulatory experts and the company’s actuarial and risk teams to assess the company’s adherence to existing regulations and guidelines. We delved into regulatory documentation, compliance records, and engagement with regulatory bodies to understand the organization’s regulatory standing and potential areas for improvement.

Our assessment resulted in a detailed and data-driven assessment report that provided a clear overview of the company’s current state.

By combining insights from stakeholder interviews, documentation reviews, and benchmarking, we provided actionable recommendations tailored to the company’s specific needs.

Our assessment covered the entire operational landscape of the Life Insurance Company, pinpointing its strengths, weaknesses, and potential areas for improvement. We benchmarked performance against competitors and industry best practices to provide actionable recommendations.


A Comprehensive View Leading to Informed Action

Our rigorous approach to the Current State Assessment and Analysis of the Life Insurance Company yielded transformative results that formed the bedrock of the  strategic decision-making, Go To strategy development and operational enhancement. Through detailed examination and collaborative engagement, we unveiled insights that set the stage for tangible improvements across key operational domains.

Our comprehensive Current State Assessment and Strategic Review Document captured the current landscape, identifies key challenges and opportunities, and set the stage for informed decision-making. The document also highlighted gaps and opportunities for strategic enhancement in various facets of the business.

Key Deliverables: Current State Assessment and Strategic Review Document covering company SWOT, PESTLE, Operational capability, Distribution capability, Product review, IT review, Competitor and Industry Analysis, Benchmarking Insights and Gap Analysis.

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