r10 were commissioned by a large insurance services provider to deliver an independent analysis and review of a large London Market modernisation programme aimed at moving accounting and settlement into a digital environment, with a single global messaging platform. Whilst the programme had been running for some years, deadlines were not always achieved and broker adoption was low.
Our client did not have direct line of sight of their customers’ views and implementation challenges, which had led to a lack of market engagement and understanding of the operational efficiency benefits of adopting the programme.
Key stakeholders had lost faith due to continually moving timelines, which meant support and sponsorship was at risk.
r10 designed an engagement strategy to provide a holistic, transparent and independent view of the landscape.
Once the strategy was active, we moved to a discovery phase involving meetings with key stakeholders both within our clients’ organisation and externally across the London Market to understand the reasons for disengagement and uptake. Further analysis followed to enable production of detailed reports outlining broker readiness and appetite for adoption, as well as the positions of key supporting stakeholders.
As a result of our strategic advisory work, our client was provided with a clear picture of the landscape. Significant improvement was delivered in terms of stakeholder engagement and more collaborative relationships across the market. The credibility and reputation of both the programme and our client was supported and improved through this. The client took up our recommendations for next steps and is implementing the changes and solutions outlined in our report.
This Case Study was posted in: ADVISORY
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