Our Consulting for Insurance Companies
Acting as trusted management advisor
Information Factory understands insurance and supports management in strategic, operational and technological challenges and decisions.
Manage the portfolio
Strategic positioning in home markets and across national markets and business lines is a basis for value creation. Groups that have local leadership positions and a powerful international model gain advantages that can be translated into attractive performance.
Exploit competitive advantages
Profitability and growth vary significantly, even among companies with similar strategic positions. The essential factor is the extent to which differentiating capabilities can be implemented.
Management should specify which capabilities will be developed into competitive advantages at group level and in country markets.
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Cost ratios of insurance companies vary greatly – both at group level and in country markets. Disadvantageous cost positions reduce price flexibility and financial scope and affect results and value creation.
Information Factory has extensive experience regarding feasible cost reductions in insurance – in home markets and across country markets.
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Technical profitability is driven by product price, costs, and claims. Best possible technical results require targeted pricing, efficient processes, and systematic claims management. Ideally, excellence is implemented on the basis of a consistently designed operating model.
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The insurance industry is lagging behind in terms of digitisation. Management should find answers to numerous questions, including: How do we focus on customer experience and transform the business model? How do we align products, channels and processes – end-to-end, agile, automated and scalable? And how do we replace the system legacy that has grown over many years?
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Incorporate sustainability
Insurance companies are members of various initiatives whose sustainability guidelines they recognize.
A comparison of their materiality analyses and reporting shows a very wide variety of statements, focus topics and key figures.
Information Factory supports insurance management in defining strategic sustainability, operationalizing ESG criteria and optimizing specific reporting.
*’Sustainable insurance is a strategic approach where all activities in the insurance value chain, including interactions with stakeholders, are done in a responsible and forward-looking way by identifying, assessing, managing and monitoring risks and opportunities associated with environmental, social and governance issues. Sustainable insurance aims to reduce risk, develop innovative solutions, improve business performance, and contribute to environmental, social and economic sustainability.’
Source: United Nations Environment Programme – Finance Initiative
The European Insurance Landscape
Our projects include key figures and benchmarks from the European insurance landscape, individual country markets and the main insurance companies.
Are you interested in our report «Creating Advantage – The European Insurance Landscape»?
Please send us your contact details by email to info@information-factory.com or fill out the form.