Re-engineering financial processes and systems at a FTSE 100 worldwide insurance player

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Client Business Issue
The Insurance Company wanted to re-engineer significant European-wide financial processes and systems. The current processes and systems were unable to meet future business requirements and a major corporate restructuring was required to exploit operational efficiencies. The ensuing changes helped to deliver improvements to all business processes, especially in the areas of Underwriting, Claims and Finance.

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Value Received by the Client
Watertrace leveraged its insurance industry expertise to identify process improvements across the entire organisation, driven by a systems change initiative. Our prior knowledge enabled us to provide a detailed depiction of the future state to the individuals involved in each process, to facilitate consensus from all key business units and users. This ownership of the re-engineered processes created a seamless transition between the systems, which delivered the systems objectives.