- Consolidation of a business division globally to drive efficiency gains for a leading global Insurer
- Legal entity restructuring of the business line to help a European client Brexit-proof their business model
A European challenge
The project was one year behind schedule when Parva was engaged. The client was already working with Parva in other locations and was referred to the Irish office as a reliable partner.
Key project challenges included limited governance and planning, unclear roles and responsibilities and poorly defined deliverables. The client had already used two different project managers and required the implementation of partner who could understand the complexities of their organisation and work with key stakeholders across Europe to agree the approach.
The project involved the closure of one branch and the transition of work to a new location further adding a challenge to manage the impact on staff as a result. The project also required engagement with several regulators across Europe to create and authorise new legal entities.
An experienced team for changes
Parva provided an experienced team who understood the challenges of managing and designing complex programs across FS organisations. We understood the business model and provided program management capability to craft a clear approach, governance model and execution strategy.
The team was able to adequately manage scope changes midway to accommodate further changes because of new Brexit requirements for the UK client base.
Client feedback has been very positive with our sponsor acknowledging the maturity and skills of the team to keep all the stakeholders on board while structuring all the work across 15+ workstreams in 5+ locations. Understanding the sector, the nuances of our client and the cultural differences across the region helped deliver the project more efficiently and reduced the reliance on the clients’ own internal resources.
Our Consulting solution has enabled the client to realize the following benefits:
- Recovered a failing project with cost overruns and no clear timeline
- Ensured the client’s business is Brexit-ready for any outcome
- Achieved sign-off directly from the CEO of the Business Division to migrate
- Designed a techncial solution for migration across the IT delivery lifecycle
- Ensured the changes are compliant with EU laws
- Built strategic platform for the ongoing consolidation of their European business
- Aligned other interdependant Claims and Financial systems to the new strategic model
- Simplified and Standardised the Operating Model