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When this Australian insurer needed to improve its customer service, it turned to Accenture for help.
This Australian office of a substantial global insurer is a leading provider of wealth management and financial protection products and services.
The insurer embarked on a service transformation program to improve customer satisfaction through the service provided to both financial advisers and end-consumers. This delivered significant business benefits over the first two years. The next stage of the program was focused on overhauling the client’s technology infrastructure to support their “ease of doing business” strategic imperative and the company turned to Accenture for help.
The first stage of these initiatives is now being executed by the insurer, and the outcomes from these projects will be key components of their journey to realize overall service transformation.
The insurer is an intermediated business with its products recommended by advisers and financial services providers. The company embarked on a Service Transformation program to drive improvement in customer satisfaction through the service provided to both financial advisers and end-consumers. This delivered significant business benefits over the first two years. The next stage of the program was focused on overhauling the company’s technology infrastructure to support their “ease of doing business” strategic imperative.
The client engaged Accenture to review its draft plans for technology solution improvement within the operations domain. The objective was:
An aggressive timetable was agreed to finalize the vision and strategic direction; the required implementation road map; and the business case to be presented to the client executive leadership team.
Within this compressed timeframe, Accenture drew on the experience of its Management Consulting and Systems Integration groups. These teams brought significant experience in the areas of life insurance/wealth management operations, process improvement and IT data and solution architecture. These skills ensured a robust solution was developed within the required timeline.
Accenture presented its findings at three workshops. The first reviewed the current service vision and the steps required to get to the desired state; the second discussed the initiatives needed to deliver the vision; and the third outlined the deliverables road map to 2012.
The Accenture team put together a logical sequencing of projects addressing four key pillars of a service operating model:
A number of objectives were defined for each pillar to provide clarity on next steps. The client has initiated the first stage of these initiatives, and the outcomes from these projects will be key components of its journey to overall service transformation.
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