Transforming Operational Risk Management for a new public $100B+ insurance company

Objectives

As a large insurer was going public and separating from the parent shareholder practices, it needed to rationalize its risk management practices to the new shareholder and management structure. Key issues included complexity of practices, potential duplication of activity and cost structure.  

Role We Played:

We led the working team to structure and project and working team to define future state needs, analyze current state activities, determine future state operational model, roles and responsibilities. Our team managed to implement a new organizational model within 12 months reducing the annual operating expense 25% and savings more than $1m+.  

Lead: Panagiotis Tsaousis