Briefing note
Operational excellence and process optimisation techniques: Case studies
By Patrick Meghen and Alan McDonagh
18 April 2024
In the changing landscape of the insurance industry, continually improving processes is critical to staying competitive and reducing operational risks. The industry is dealing with significant changes as a result of high inflation and the complexities of new regulations. Managing these pressures requires a careful balance of compliance and operational efficiency. This briefing note provides the following five case studies that show examples of some techniques we have used to improve our clients' processes:
- Tailored automation solutions
- Reporting team reorganisation and overhaul
- Using Milliman Mind: Harmonised reporting
- Centralised results and controls
- Leveraging generative artificial intelligence (AI)
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