Our first step was to run workshops with key client teams to understand all the pain points and challenges they faced. We mapped every process within the property portfolio, assessed the performance of existing systems, identified gaps, and measured current skill sets against the requirements for the ideal future state. Then we recommended a partnership that would draw heavily on its business, IT, and data strategy and also augmented capacity in its actuarial regulatory reporting team.
Next, we delivered a detailed plan for a revised actuarial reporting TOM, including an integrated rollout and migration plan, portability assessment, and right-skilled resource planning. When the insurer signed off on this, we built a multidisciplinary team consisting of actuarial analysts, data and IT specialists, and financial analysts to provide business support, data and technology support, and execution support to work alongside the carrier.