Case Study : Grange Insurance
Something with the Skills Gap in Insurance
Moving from filling roles to spreading knowledge.
The Industry Situation
You are an IT leader in the insurance industry today, no one has to tell you that the speed of business is moving quickly. Once a laggard in the world of IT, insurance companies are now catching up at an alarming rate by reengineering in core systems, underwriting, financial reporting, marketing and distribution, and elsewhere to modernize their operations and businesses. They are realizing the benefits of using advanced analytics for designing products, segmenting markets, developing distribution strategies, and managing in-force business, setting assumptions for financial reporting, and developing metrics for risk management.
With so many moving parts, it shouldn’t be surprising that the Insurance industry’s most pressing challenges lies within their culture. The skills gap continues to be the number one threat to our organization’s ability to sustain a much needed surge forward. Both IT leaders and employees alike must have the ability to understand the waves of change that bombard the insurance industry at every angle and then make swift responses, take cross-functional action, and embrace tomorrow’s ambiguity.
Our Client's Challenge
A technology leader in the world of insurance, our client Grange Insurance was struggling to execute on an innovative initiative called “Super Easy Quote”. The churn-rate that they were experiencing was largely due to talent acquisition methods that only accounted for role requirements rather than business knowledge and adaptive ability. Grange looked to Cohesion to fill those gaps with our wide network of WayFinder™ Consultants.
These Wayfinders proved to have the perfect mix of a deep knowledge base of the insurance industry, along with future-ready QA thinking that quickly increased test cases by over 50% and substantially raised the quality of the product (quote opportunity?). After proving they were armed with the skills and talent to maneuver Grange’s toughest challenges, Our WayFinders™ were fortunate to teach adaptive methods along with Ruby, Cucumber, and ATDD principles. Our consultant was then responsible with teaching a multi-day workshop to departments across the Grange organization.
Cohesion is uniquely structured around your specific industry challenges to ensure that our people and their solutions are ready on day one. However, we don’t rely on industry knowledge or yesterday’s expertise alone. Our network is constantly pooling across verticals, gathering the knowledge, best practices, IT trends, and future-ready coaching and consulting, that will help you adapt for tomorrow. ”