HOW CAPCO HELPED MULTI-NATIONAL INSURER SOAR TO 8X GROWTH

 

INTRODUCTION:

The client has 30+ years’ experience in global employee benefits but was new to the U.S. market and virtually unknown to U.S. distributors. As a start-up-like in the U.S., the client lacked the scale and experience to plan and execute the large-scale acquisition of the target book of business. The client not only needed a renewal-rights transition approach aligned with its growth strategy, but also a program delivery approach to ensure maximum retention of existing business throughout the acquisition.

 

WHY NOW?

Client purchased the renewal rights from AIG and needed help organizing the transition to be done in less than six months to ensure growth and profitability targets were achieved.

 

HOW WE DID IT:

Leveraging key relationships in the employee benefits space, Capco brokered a renewal rights arrangement and established an acquisition plan that positioned the client to significantly grow its book of business within a 12-month period. Using its team of industry experts, Capco developed a strategy, program managed, and executed on a 12-month transition that delivered 8x growth in annualized premium and resulted in exponential growth for the client’s distribution partners.

 

WHAT WE DELIVERED:

 

Impact

  • The client retained 51% of the cases and 54% of the $53M+ in premium, representing a 500% increase in the overall book of business.
  • The client progressed from informal discussions to a signed renewal rights agreement within two months and onboarded over 800 cases within 12 months.
  • The president of the Employee Benefits division declared that it was the best run engagement that he had seen in his career.
  • On the heels of the extremely successful project, the client engaged Capco to support two additional acquisition opportunities, and to develop a strategy to realize significant organic growth.

 

Deliverables

  • Tranche-based renewal rights onboarding strategy
  • Proactive, strategic, and comprehensive program leadership with plans, risk mitigation, dashboard reporting, etc.
  • Detailed playbooks and workflows to ensure repeatability and consistency
  • Gold Copy data room management and governance
  • An end-to-end Level 1 Command Center to provide “one and done” resolution
  • “Business Unusual” flex resources to create scale and speed at peak volumes

 

© Capco 2024, A Wipro Company