WHAT WE DO
ExpertActions draws on deep experience to help insurers in every region address these unprecedented management challenges. We work with life and property and casualty insurers to:
- Develop customer loyalty and frontline feedback programs
- Revamp product lines
- Reduce back office costs
- Upgrade information technology systems
- Improve risk evaluation and claims-management strategies
- Explore new markets and partnerships
- Build more effective organizations
ExpertActions works with insurers in every region to adapt to the evolving market. We work alongside client teams to develop and execute strategies that help insurers become more nimble competitors in the new regulatory landscape.
- Strengthen product offerings and customer relationships. Companies that successfully monitor the health of their customer relationships to nurture loyalty are simply more profitable. New regulations will require insurers to sharpen how they decide which products to sell, determine what premiums to charge to cover the risks, and determine how best to attract and retain attractive policyholder segments. Getting this right can have an enormous impact on profitability.
- Tighten cost management and lower the loss ratio. Companies can help stretch capital through outstanding execution of everyday disciplines of cost control, efficient claims management and low administrative expenses.
- Rebalance the portfolio. Insurers should reevaluate their business lines so that their corporate strategy goals complement regulatory benefits, such as diversification advantages at the holding-company level. Companies will also need to get an early start on building better risk-management models that inform decision making at all levels of the organization, an important investment that will require upgrading information technology systems and a change-oriented culture.
- Synchronize the investment structure and identify reinsurance programs that best suit their capital needs. Insurers can relieve pressure on capital and benefit from a more stable profit stream through the judicious use of reinsurance to shift risks off their balance sheets.
- ExpertActions helps firms prepared both technically and strategically to pull away from the competition.
We share our clients' ambitions. We work to understand their reality and deliver true results—focusing on strategic decisions and practical actions. And we align our incentives with our clients' objectives, so they know we're in it together.
- Customer focus helps a insurer grow: ExpertActions worked with a leading property and casualty insurance client to design customer-focused programs that increased both customer retention and market share.
- Bridging the gap between business and IT: ExpertActions created a five-step approach to address our insurance client's IT transformation challenges and issues