Value Chain Efficiency
Aligning stakeholders to replace legacy systems
A global insurance and reinsurance company (ReinsurCo) believed that it could improve operational efficiencies by updating its claims processing systems. However, with hundreds of employees across several continents, the costs of replacing such systems would be time-intensive, costly, and require extensive employee training.
ReinsurCo selected LDR to explore opportunities to replace the legacy systems to improve the claims processing systems in a cost-effective way. LDR worked for all parties across the reinsurance value chain and then partnered with developers to build a tailored digital tool that facilitated trusted transactions, improving operational efficiency and most importantly, the customer experience.
The Goal
ReinsurCo needed to improve operational efficiencies by updating its claims processing systems.
The Challenge
Develop a claims processing application to solve market inefficiencies in a way that was time intensive, costly, and easy to train.
Our Approach
Facilitate cross-functional team to define value chain
Create PMO working group
Bring working group concepts to viable commercialization
The Results
LDR implemented our signature PMO model to better understand the value chain and facilitate enhanced stakeholder cooperation. We were able to demonstrate the viability of the PMO working group to quickly develop concepts into a viable commercial product.
Key Accomplishments
Quickly implemented signature LDR PMO model to better understand the value chain
Identified market inefficiencies and enterprise implications
Led project team of industry veterans to agree on and document the best path forward
Demonstrated the viability of the PMO working group to bring concepts to a commercially viable product