This new offering applies SSA & Company’s proprietary Strategic Process Management (SPM) methodology to the specific needs of insurance companies
SSA & Company, a global operations consulting firm, has announced a new product to help insurance companies to improve margins, while increasing clarity and control over key risks.
This new offering applies SSA & Company’s proprietary Strategic Process Management (SPM) methodology to the specific needs of insurance companies.
Kaj Ahlmann, former CEO of Employers Reinsurance Corporation and current advisory board member at SSA & Company, said: “The current financial turmoil has created a challenging environment for the insurance industry. Insurance companies need to focus on improving three keys areas: underwriting, investments, and operations. Unfortunately, today’s financial crisis has proven that many insurance companies have high-risk asset portfolios, which can only be solved through long-term changes, not short-term fixes. This, coupled with softening underwriting markets, means that the only area where insurance companies can really make an immediate, significant and lasting impact on company performance is in their operations.”
Through extensive work with numerous regional and global Life & Health and P&C insurance companies, SSA & Company has tailored its SPM approach to help insurance companies address key common problem areas. They are: overhead costs associated with multi-product business lines and poorly integrated acquisitions, managing multiple operating and IT platforms, redundant and ineffectual outsourcing solutions, inaccurate billing and poor customer service, and highly manual claims processes.