Insurance

Uniform support from strategy design to execution enabling the client to successfully competed amid structural changes in the societal environment

The insurance industry is subject to an increasingly intense competitive environment as a number of factors converge. These include increasingly drastic changes in economic climate, an aging population with low fertility and the attendant structural changes in society. Amid the resulting hybridization and emergence of new business channels, increasingly multifaceted product strategies, and new legal requirements due to amendments to insurance law, the client needed better internal control and other management refinements to raise the quality of its operations.

ABeam Consulting benefits from a wealth of consulting experience with domestic and overseas insurance firms, wide-ranging insights and numerous members with experience in the industry. We leverage these advantages to provide uniform service from strategy design to execution, solving problems by boosting profitability and productivity and enhancing risk management efforts.

Menu of key services

We take advantage of our many years’ experience consulting in the insurance industry and our global networks to provide uniform service from strategy design to execution.

Category Services provided
Management strategy
  • New business/market entry strategy (entry into the Japanese market, life insurance business startups, new product development)
  • Starting business overseas (local IT strategy, project oversight)
  • Indirect cost reduction (purchasing consolidation & procurement cost reduction, reduction contingent commission payment costs)
Management transformation
  • Business location transformation (office elimination and consolidation, new office conceptualization)
  • Policy management / maintenance process optimization
  • Enhancement of insurance benefits/claims processing
  • Outsourcing / shared services
Risk/finance management
  • IFRS/Solvency II (project plan formulation, systems grand design)
  • Integrated risk management (evaluation of maturity of risk management posture, quantification of operational risks)
  • Non-consolidated/consolidated accounting computation (operations based on J-GAAP, US-GAAP)
  • Accounting systems implementation (global business management system)
  • Accounting process optimization
Channel strategy
  • Next-generation agency model (basic agency CRM concept, agency business process automation)
  • New channel set-up
  • Mobile/Internet strategy (innovative policy sales support using terminal innovation)
Customer relationship management (CRM)
  • Marketing (online marketing, website benchmarking)
  • CRM foundation enhancement (basic conceptualization of companywide CRM foundation and integrated customer database)
  • Customer center assessment / customer contact nhancement
  • BI for Insurance (customer defection forecast analysis, new customer analysis, claims processing analysis)
IT management
  • IT strategy formulation support (medium-term and long-term IT strategy, IT organizational diagnostics, IT operation/maintenance system design)
  • Basic systems conceptualization/construction (package selection, business analyst, PMO)
  • Improved internal control/compliance
  • IT governance (global IT governance, information security management)

 

Track record

・IFRS implementation support
・Global risk management implementation support PMO
・Companywide accounting BPR/ERP implementation support
・Global IT governance capability preparedness support
・Companywide IT strategy formulation & promotion support
・Customer portal functionality upgrade support
・New policy appraisal process automation & paperless operation support
・New channel implementation & new product review support
・Maintenance operational process transformation support
・Banc assurance new policy BPR support
・Variable annuity maintenance BPR support
・Agency management / procedural management BPR support
・Insurance payment service BPR support
・Support in considering use of shared service centers for business/accounting operations
・Support for personnel transformation & training at systems subsidiaries

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