It’s a new era for firms operating in the financial services and insurance sectors. With the advent of new products, new markets and a changing competitive landscape, it’s a challenge to compete effectively within regulatory mandates.
Firms must keep up to date with the latest in technology architecture, as well as meet transparency and compliance requirements as cost effectively as possible.
TSI’s financial services and insurance consulting services bring specific skills to address the unique issues faced by financial services and insurance firms. Our team provides results-oriented consulting services that help firms improve profitability, growth and customer satisfaction while minimizing competitive threats.
Our financial services and insurance consulting projects have ranged from:
- Strategic Planning
- Performance/Process Improvement and Reengineering
- Change Management
- Salesforce and Sales Channel Effectiveness
Financial Services and Insurance Success Stories
The success stories below provide a closer look at how TSI’s financial services and insurance consulting services help to increase efficiency, lower costs, and improve analytics in the financial services and insurance industries.
- Commercial Lines Processing Improvement Study
- Statistical-Actuarial Department Productivity Improvement Study
- Information Systems Department Methodology Project
- Claim Department of the Future
- Information Systems (IS) Department Reengineering
A large national insurance organization contacted with TSO for day-to-day project management and hands-on participation of a 12-person project to reengineer the underwriting, marketing and support operations of the entire Commercial Lines organization and its 20 branch offices. The goals of the project focused on improving the level of customer service and profitability. The project recommended and implemented automation, organizational and operational improvements that will yield annual benefits exceeding $10 million. Accomplishments and duties included performing detailed workflow and organization analysis to develop organization-wide recommendations for the 1,200-person organization. In addition, the project scope included a variety of cost-benefit analyses that included alternatives of the branch’s organization, facilities, personnel and information systems.
TSI managed a project to recommend information system improvements to reduce the work effort required to extract and analyze premium and loss information. Recommendations included the vendor evaluation, design, development and implementation of a local-area network to replace an antiquated mainframe information system. Information Systems CASE Tool Evaluation and Selection
TSI was engaged to develop new and enhance existing operational review business reengineering and systems development and implementation methodologies for the Information Systems Department. TSI also trained the Information System’s staff on the methodologies.
TSI participated on a highly visible project designed to analyze and increase claim office efficiency by improving the use of technology and use of operating procedures.
TSI helped improve the effectiveness of a 1200 person IS Department. On the first project, TSI led an IS Team to define and implement improved and streamlined systems development processes, rather than the existing long, cumbersome methodologies. The project was completed within 90 days and also included the definition of refined IT roles, relationships and performance measures.
Your Next Step
View additional success stories illustrating how TSI offers leading financial services and insurance firms deep expertise and consultative services.
You’ll see the financial services and insurance consulting results we’ve help provide, including dramatic improvements from an operations and technology perspective as well as other core areas.
Contact the TSI team to put TSI’s business transformation solutions to work at your firm.