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Consolidation & Transformation of Acquired Companies 2017-11-16T09:26:07+00:00

Project Description

Challenge

A large global insurer had acquired four separate but related domestic business, integrated each from a back office perspective, but had left the operations as stand alone entities: 

  • Given that operations were not integrated, clients still viewed these businesses as a loosely related groups of companies rather than a single suite of services​
  • Parent company understood that significant operating synergies could be realized through a second phase of integration and devised a transformation strategy to meet objectives of increasing revenue and NOI​

Solution

MCG worked in partnership to deliver the following solutions across all business units:

  • Served overall program management and complex project management needs for the largest transformation initiatives​
  • Helped devise a plan to create a common process and modernized platform to combine four separate entities​
  • Managed RFP process to evaluate build v. buy options, ultimately choosing a 3rd party partner to develop the new platform​
  • Facilitated future state design sessions to define high level requirements​
  • Currently transitioning from future state design to 18 month development effort​
  • Ultimately will work to align org structure to meet the realities of a new operating model

 

Project Details

Expertise Leveraged

Merger Integration

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Business Value

  • Building the infrastructure for growth, improved profitability and staffing flexibility​
  • Realizing significant synergies from a variety of sources:  contract consolidation/ renegotiation, automation and/or offshoring of repetitive processes leading to significant FTE reductions​
  • Plan to create a more modern infrastructure using cloud, microservices and BPM tools that  provide greater flexibility to respond to market and client needs at lower cost of ownership

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