A leading life insurance company was struggling with a long-term technology implementation for its new business and underwriting system. The implementation was several years past the expected duration and over three times the initial budget.
After pausing the implementation, the company engaged Guidehouse for ten weeks to complete a current-state assessment of the program’s objectives, governance, controls, and support functions and provide recommendations for going forward with the implementation.
To determine the best course of action, Guidehouse first conducted a thorough review of the program’s finances, governance, internal and external interaction model, reporting capabilities, system requirements and functionality, and support functions, including change management, production support, testing, and training.
The assessment involved requesting, documenting, and reviewing relevant information and interacting with key stakeholders to gain insights. This included:
Guidehouse’s final deliverable consisted of two correlating documents, an assessment and a path forward. The comprehensive, 37-page current-state assessment was highlighted by:
The findings from the assessment were the basis for the recommended path-forward; a document that included nearly 60 program enhancement opportunities centered on governance structure redesign, process redesign, prioritization methodology, organizational redesign, change management, and improved financial controls and transparency.
To provide a “jump-start”, Guidehouse also created head start tools for governance structure, go/no-go tollgate criteria, reporting templates, roles and responsibilities, work breakdown structure, change management and training strategies, and a RACI (responsible, accountable, consulted, and informed) chart.
The company’s senior leaders implemented many of the recommended strategies immediately and engage Guidehouse as partners to drive implementation of others and assist with the overall implementation.
Guidehouse’s recommendations enabled the client to resume program implementation with confidence by strengthening the following core functions:
The client is now well-positioned to meet its organizational goals thanks to this transformed new business and underwriting technology system implementation.
Guidehouse is a global consultancy providing advisory, digital, and managed services to the commercial and public sectors. Purpose-built to serve the national security, financial services, healthcare, energy, and infrastructure industries, the firm collaborates with leaders to outwit complexity and achieve transformational changes that meaningfully shape the future.