Client Impacts

Implemented KPI Tracking Program Reducing Reporting Time by 65% for Global Insurance Company

Capabilities
Insurance

Challenge

Global insurance company lacked actionable real-time information on business unit performance and progress towards multi-year savings goals due to poor data quality and inefficient reporting processes.

The company sought to develop a standardized process for establishing KPIs to improve clarity and timeliness of reporting.

Approach

  • Defined a strategy and operating model for the organization-wide KPI measurement plan
  • Guided each business unit in the establishment of narrowly focused, value-added reporting metrics that could be measured sustainably
  • Implemented a series of standardized reporting processes across business units and established a regular reporting cadence
  • Established set of guidelines and expectations for future KPI reporting efforts that would improve oversight

Results

I.

Stood up a KPI measurement and reporting program for 10 business units within 3 months

II.

Reduced KPI reporting lag time to ~1 month from a typical quarterly delay

III.

Contributed to the achievement of a multi-year, organization wide $1B cost savings goal

IV.

Established Standard Operating Procedure for implementing future KPI measurement programs within the company

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