Case study : Setting up of a new insurance company

Client situation:

Client was setting up an insurance company in India. Only core team of around 10 people was present in this early stage engagement. The consultant was expected to play a role in various business aspects of the insurer.

Requirement :

The client expected overall consulting support in planning and setting up activities with specific focus on process design and technology

Services provided :

Providing overall direction & support for set-up activities, including :

• Planning & tracking of setting-up
• Process design & documentation
• Structuring of RFP for software
• Evaluation of IT solutions
• Oversight of system implementation
• Setting up of procedures for risk management and internal audit

Benefits :

• One consultant doubling up in multiple roles (eg: IT, reinsurance, audit ) eliminating the need to hire multiple skills which do not have full-time requirement
• Consulting support for all early stage activities
• Overall support for the whole start-up team

Mode of engagement :

Direct, as independent consultant

Duration :

5 months