Operations

Insurance is experiencing a time of profound change as companies across the spectrum seek to improve productivity and scalability. Advances in technology and data, including the plethora of new technology vendors, make this the right time to aim for a step-change in operational excellence.

Our expertise and experience cover everything from high-level organisational design through to specific problem resolution. Topics we have covered include resetting cultures, rebuilding governance models, implementing change organisations, rationalising management information, designing processes and building target operating models.

Our agile-inspired approach ensures that our recommendations are practical and actionable and challenges management teams to move to execution as quickly as possible to create momentum and deliver tangible results.

We call on our Expert Network to augment our internal team where appropriate. Members have executive experience in industry topics such as underwriting, claims and technology, or in functional areas such as data and technology, and ensure that our recommendations are workable in the real world.

WHAT WE DO IN OPERATIONS

Operations strategy

We help executive teams build operations strategies and roadmaps aligned to their growth aspirations

Operating model design

We help COOs and CUOs build operating models aligned to their strategic goals

Digital transformation

We combine our operational and technology expertise to help executive teams understand how to thrive in an increasingly digital marketplace

Cost control and scalability

We help executive teams understand and restructure their cost bases to be more efficient or scalable

OUR LATEST INSIGHTS

Reinsurance operating models: Do you have a post-bind issue?

Eight tell-tale signs you have a post-bind operating model issue

Underwriter Workbenches: Decoding the vendor landscape

Discover which vendors could support you build your underwriter workbench

Underwriter Workbenches: Lessons from the road

Lessons learnt about designing and implementing underwriter workbenches in the market

More insights

EXAMPLE ENGAGEMENTS

Rethought a post-bind operating model

A leading reinsurer identified that their post-bind operations had developed organically leading to challenges with scalability. We supported the client to develop a new, deliberate global operating model. This led to improvements in both efficiency and quality, which are the foundations to support future scale.

Developed a digital readiness operating model

A leading Lloyd’s syndicate wanted to evolve its operating model to respond to emerging digital trends and market initiatives. We helped our client develop a pragmatic approach to digitise its existing operating model, taking a phased approach to a multi-year roadmap.

Designed an FS operating model for a leading retail brand

Our client is a prominent UK retail brand. The client was undergoing a strategic reorientation of their retail financial services business and asked Oxbow Partners to advise on how to set up their insurance operating model optimally. We were then asked to support on the broader retail financial services set-up.

Redesigned management information

A leading reinsurer wanted to rationalise the information used in the business and build standardised reporting driven by ‘golden sources. We helped the client identify metrics to run the business, defined how to source the right data and developed the governance required to deliver the insight.

Set up Digital Partners for Munich Re

In 2015 we were asked by Munich Re to evaluate how they could play the InsurTech trend. We supported the team to set up Digital Partners, which grew to over $500m of premium over the next five years.

Supporting a carrier become truly data and digital first

A leading London Market syndicate wanted to put data and digital at the core of its strategy and operations. We worked with the underwriting teams and partnered with a systems integration consultancy to implement end-to-end underwriting infrastructure and processes organised around a new Underwriter Workbench.

We loved Oxbow Partners’ deep insurance expertise and collaborative approach as it resulted in a practical operating model with global buy-in. They challenged us to stretch our thinking and we now have greater confidence in execution.

Garance Wattez-Richard, CEO, AXA Emerging Customers

RELEVANT PRODUCTS

Magellan

Magellan is our insurance technology navigator. Magellan contains detailed information on over 4,000 technology vendors targeting the global (re)insurance market. Magellan is designed to help business and technology professionals find the right short-list of companies to help with their specific technology requirements. We offer both a self-service subscription and a ‘Curated Search’ service delivered by our dedicated team of experts.
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Lead contact

Greg Brown, Partner

Greg leads engagements on digital, operational, and technology strategy and transformation. He spends most of his time in the Lloyd’s and London Market and European retail insurance.

Graduating with a degree in Engineering and Computer Science, Greg has a strong technical background which allows him to give his clients confidence in the feasibility of their strategic choices. CEOs often rely on Greg to look through the hype and advise them on the relevance of technical trends. Topics where Greg’s range of experience comes together include digitisation in the London Market and the impact of Lloyd’s Blueprint 2, strategic choices available to syndicates around the bifurcation of lead/follow, and using technology as a vehicle to drive underwriting transformation.

Greg is a regular commentator on transformation and digital topic, and often speaks at industry events. He has authored many pieces on the Oxbow Partners blog.

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