The case histories below demonstrate how Fifth Step has worked with a range of clients across a wide and often complex variety of organisational change programmes.
Providing an Insurance Enterprise PMO Solution
A Fifth Step client, historically focused on run-off, had begun acquiring insurance and reinsurance companies after recently announcing its expansion into the underwriting business.
The Client: An International Reinsurance Company
Operating for more than 20 years, this client has experienced signicant international growth. Historically focused on successfully managing and implementing a wide portfolio of run-off business, the management team has chosen to diversify via acquisitions in the global specialty insurance market.
Disjointed IT infrastructure can have a highly detrimental effect on a company’s efficiency and profitability, a fact not lost on our client, a leading Lloyd’s Specialty Insurance Underwriter.
HR Information Systems
The growth of any company brings many benefits, but can also result in significant challenges. Our client, an established global insurance company, had acquired a number of regional HR offices with differing business processes.
Sometimes, although a platform replacement project is already in-flight, an independent assessment is not only necessary, but imperative. In this case, our client, a major insurance company, was using two platforms – one for eligibility information and the other for claims.
Due to significant operational issues with their Policy Administration System, a Lloyds Managing Agent engaged Fifth Step to conduct an independent review of their software provider.
Business Continuity Plan
Whenever the spotlight is turned on cyber security, the focus is usually on defence – how to stop criminals in their tracks and keep sensitive data safe and secure. Few organisations think about recovery in the event of an attack, or create a risk profile so that recovery time is controlled and efficient. At Fifth Step, we can help you develop a Business Continuity Plan (BCP) that will offer you complete peace of mind.
In 2015, TalkTalk, the UK based Telecoms company, suffered a major cyber-attack. The banking and personal details of many of its customers were accessed, and the board’s handling of the incident received intense – and negative – press scrutiny. Reputations are lost and won at moments like these, and this fact was not lost on our client, a well-known organisation operating in the Betting and Gaming industry.
Most small to medium size organisations find it difficult to justify the expense of employing all the skills they require. They want to provide an exceptional service but also run an efficient business while maximising profits. Contractors can provide short term solutions, but the problem is how to use them efficiently while avoiding Big Four consultancy costs. Fifth Step was founded because we had experienced the same problems, and wished to provide a highly flexible and cost-effective ‘Big Four quality’ consultancy service. We also wanted to empower our clients to leverage their staff and develop their own skills.