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 | The Life Insurance Company had proven its ability to generate rapidly increasing sales of its flagship annuity product. In 2002 and 2003, the company had acquired or launched new businesses to diversify its product line and spread its risk. The company comprised four business units, operating independently with the exception of some shared Information Technology services. Growth was constrained because there were no economies of scale and the only way the company could support growth was to add staff in direct proportion to incoming sales. Processes were manual and required many hand-offs between departments.
The Company engaged SafeNet Consulting’s Business Engineering practice to develop a companywide program jointly with another firm to design and implement a processcentric business model. They developed strategic business models and process maps that identified where redundant processes could be merged or eliminated and significant cost savings could be realized. >>Read More |
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