Brimstone Consulting

JUNE 25, 2021

This was advice from my dad right out of college when I joined a leadership development program at an insurance company. Claims (Operations) is perceived as lower value because it is where money leaves the company. Even if you are hyper-efficient at claims/operations, it’s typically undervalued.

Operations 52

Operations Insurance Insurance Leadership 52

Clarity Consultants

SEPTEMBER 18, 2017

Many companies are already operating with lean staff, due to high attrition rates and not replacing staff, not to mention downsizing as a result of a difficult economy. In this kind of environment, focusing on worker retention and cross training to make existing workers more efficient makes a lot of sense. McKinsey & Company.

Training 65

Training Training Examples Boston Consulting Group 65

Management Consulted

AUGUST 1, 2013

Now a subsidiary of Marsh & McLennan, Oliver Wyman is known to give MMC its strong reputation as experts over other insurance providers because of the firm’s focus on strategy. Burrows, Marsh & McLennan began in Chicago in 1905 and became the world’s largest insurance agency. Oliver Wyman became own firm again.

Oliver Wyman 201

Oliver Wyman Interviews Mercer NERA Economic Consulting 201

Tom Spencer

NOVEMBER 2, 2019

RPA, which stands for ‘ robotic process automation ’, is a technology that consists of software robots ( bots ) that can mimic a human worker performing operations on their laptops. It is ideal for operations that involve rule based repetitive tasks to be done in large volumes. Enter machine learning (ML). Use case: HR Bot.

Software 74

Software Data Engineering Operations 74

Harvard Business

NOVEMBER 6, 2018

Many have received unpleasant surprises, such as a medical bill they expected to be covered by their health insurance or an unexpectedly expensive bill for a simple service. Our estimates found health insurers and employers spend $26 more on administration fees for every consumer with low health system literacy. health care system.

System 35

System Insurance Insurance Education 35

Tom Spencer

NOVEMBER 9, 2019

Historically, commercial banking and investment banking functions have been separated by law – these restrictions have since been repealed and larger banks tend to take on capital markets operations due to the complimentary nature of the businesses. In secondary markets, the sales & trading function operates as a market maker.

Banking 12

Banking Industry Balance Sheet Retail 12

Harvard Business

DECEMBER 14, 2018

These relationships can create efficient new sales channels and powerful feedback mechanisms or unlock entirely new business models. The auto industry is a case in point. Your chosen Porsche is delivered to your house with insurance and maintenance as well as unlimited miles and flips to other models included.

Strategy 37

Strategy Strategy Strategy& Insurance 37

Harvard Business

OCTOBER 19, 2017

Southwest Airlines, for example, has figured out how to do well the two operational things that matter most: Keep more planes in the sky more often, and fill each of them up more, and more often, than anyone else. First, hospital operations are in many ways like airline and airport operations and transportation services.

Data 28

Data Airlines Transportation Operations 28

Harvard Business

JANUARY 31, 2017

While some have invested significantly in technology, operational, and cultural changes, others are lagging behind. billion, including most major firms in the manufacturing, consumer packaged goods, financial services, and retail industries. Other financial and operating indicators showed similar disparities.

Company 28

Company Operations Data Benchmarking 28

BCG

SEPTEMBER 26, 2016

However, few companies in service industries have reached such an advanced level, which we call Service 4.0. Service companies lag far behind industrial companies in applying technology to improve their operational efficiency and to enhance customer satisfaction. will affect the workforce across industries.

Telecommunications 40

Telecommunications Banking Industry Insurance 40

Consultant Ninja

JULY 27, 2009

Structural Driver: The organizations in the health care system operate inefficient operational structures. I fail to see the logic that the government will be more efficient at building operational structures than the private sector. the ability for insurers to deny insured individuals healthcare).

Consulting 113

Consulting Insurance Insurance Oliver Wyman 113

Harvard Business

JULY 19, 2017

Without building on the basis of a digital operating model, there is no way to ensure alignment among a company’s digital initiatives. Operational excellence, customer intimacy, or product leadership — successful companies excel in one dimension and perform well in the others. Digital transformation requires new strengths.

Enterprise 28

Enterprise Insurance Insurance Agile 28

Harvard Business

JULY 19, 2017

IT has long played a critical role in helping organizations deliver better products and services, improve operations, better manage risks, and develop new business models to stay relevant. Read more from DXC Technology: Digital Transformation Is Racing Ahead and No Industry Is Immune. That’s still true.

Enterprise 28

Enterprise Insurance Insurance Data 28

SkillQuo

OCTOBER 10, 2018

Over the past few years, industries from enterprise IT to financial services have become more consumer-centric. The healthcare industry faces high regulatory burden and health incumbents that have not recognized their businesses face an existential threat. In healthcare, that change has come more slowly.

Healthcare 53

Healthcare Insurance Insurance Retail 53

Harvard Business

MAY 16, 2017

You’re ready to make a career move, up to a higher level or into a different industry or an entirely new field. This was Sasha’s summary: Department Administrator – Efficiency Expert – Staff Manager - Crisis Handler. Example #2: Breaking into a new industry.

Transportation 47

Transportation Real Estate Financial Operations 47

Harvard Business

APRIL 6, 2016

In many industries, the capital required to build an asset of minimum efficient scale is growing. The latest nuclear reactor designs, promising higher safety, longer operating life, and lower operating costs, cost up to $25 billion after factoring in the huge budget overruns. Model 1: Virtual operator.

Operations 28

Operations Examples Insurance Insurance 28

Harvard Business

OCTOBER 11, 2018

trillion on health care , or more than $10,000 per person, which is twice as much as any other industrialized country. If the Affordable Care Act unravels in the near term, the number of insured could creep back up to 50 million, the level in 2009. a cataract operation can cost $200 or less, compared with $3,500 in the U.S.

Nonprofit 28

Nonprofit Insurance Insurance Operations 28

Harvard Business

OCTOBER 18, 2016

With this model, an investment can be defined as strategic, key operational, support, or high potential. Key operational investments sustain existing business operations, helping to avoid any disadvantage. Digital investments to assist meeting specific industry legislation also fall into this category.

Tools 28

Tools Operations System Software 28

Harvard Business

OCTOBER 13, 2016

Creating a virtual workforce of software robots can help companies streamline operational processes as well as increase the quality and cost-effectiveness of shared services. Take, for example, the car insurance industry. Insight Center. The Automation Age. Sponsored by KPMG.

Insurance 28

Insurance Insurance Efficiency System 28

Harvard Business

NOVEMBER 29, 2018

At Salt Lake City-based Intermountain Healthcare , ensuring the alignment of all these things to provide extraordinary care requires a constant regimented focus across our 23 hospitals, 170 clinics, and 850,000-member health insurance plan. On the business side, the escalation process has provided improved visibility into operations.

System 38

System Healthcare Metrics Operations 38

Harvard Business

NOVEMBER 22, 2017

Why is one insurance company deep into an agile transformation while another is experimenting with it only at the edges of its business? For every company wrestling with evolutions in its strategy, success depends as much on matching the operating model to those evolutions as it does on the soundness of the strategy itself.

Strategy 28

Strategy Strategy Strategy& Company 28

Harvard Business

NOVEMBER 22, 2017

As business tycoon Richard Branson has proclaimed in 2012, “our only option to stop climate change is for industry to make money from it.” Our research involved a detailed cross-case analysis of five major corporations operating in Australia over 10 years, from 2005 to 2015. We get back to core stuff.”

Energy 28

Energy Case Interview Insurance Insurance 28

Tom Spencer

OCTOBER 20, 2018

Because virtually any type of information can be digitized, codified and placed onto a blockchain (a database that is tamper-proof and permanent), the technology’s potential to impact various industries is significant. Peer-to-peer insurance. This global expansion opens a new realm of opportunity for the insurance industry.

Insurance 60

Insurance Insurance Financial Efficiency 60

Harvard Business

APRIL 5, 2017

While a laudable effort in principle, measuring a company’s tendency to make myopic operating and investing decisions is fiendishly complex. But the other indicators probably pick up legitimate differences in how companies in the sample operate, as opposed to whether they are myopic. Are all share repurchases myopic?

Metrics 30

Metrics Study Cash Flow McKinsey 30

Harvard Business

JUNE 1, 2017

No industry or sector is immune to hacking. At the beginning of 2017 Experian predicted that the health care sector would be the most heavily targeted vertical industry. The estimated loss to the industry is $5.6 These stats should be a wake-up call for the entire industry. Purchase insurance. billion per year.

Insurance 28

Insurance Insurance Financial System 28

Harvard Business

JULY 12, 2017

While Edward Lloyd is largely credited with commercializing the insurance industry, with the creation of his namesake firm, Lloyd’s, over 330 years ago, the original concept of spreading risk (or “mutualizing”) goes back even further. However, even these commodity offerings can find ways to innovate and survive.

Insurance 39

Insurance Insurance Industry Balance Sheet 39

1 to 1

JUNE 1, 2021

It streamlines operations and frees customer-facing employees up to focus on more meaningful interactions with customers. Streamlining Efficiency. Industries that can particularly benefit from automation run the gamut: retail, healthcare, automotive, government, communications, travel and hospitality, financial services, and insurance.

Software 26

Software Turnaround Automotive ROI 26

Harvard Business

NOVEMBER 7, 2017

In the health care arena, horizontal mergers seem to have run their course: The proposed mergers of insurers Aetna and Humana, and of Cigna and Anthem, were challenged by the DOJ and withdrawn , as was Walgreens’s proposed acquisition of Rite Aid. Among hospitals, too, consolidation may have peaked.

Insurance 28

Insurance Insurance B2B Pharmaceuticals 28

Management Consulted

DECEMBER 6, 2015

One example is when the New York School’s system hired them to boost the efficiency of their school bus network, which they did, saving the city $12M. Industries. How HR adds Value During the Energy Industry Downturn. It’s not just big corporations who have turned to Alvarez & Marsal for help either. Healthcare.

Interviews 100

Interviews Culture Turnaround Case Interview 100

Harvard Business

OCTOBER 22, 2018

We’re now looking into developing other businesses and strengthening our presence in other industries. María Luisa: Our businesses were able to operate immediately after Maria because we planned for redundancy — generators, diesel, tech infrastructure. Crisis brings opportunities to explore uncharted territories.

Media 35

Media Company Real Estate Advertising 35

Tsavo Neal

JULY 20, 2017

The show also features experts providing advice on topics such as insurance, contracts, travel, use of LinkedIn, and daily routines. We discuss concepts to help listeners advance their strategy, operations and implementation skills, enhance their critical thinking ability and build their executive presence.

Consulting 113

Consulting Interviews Sales Travel 113

Harvard Business

DECEMBER 6, 2016

But typical of disruptive transformation in other industries, the U.S. While cars have been getting smarter and smarter, the removal of human operators is what will dramatically change the law. The cities, states, and countries that get there first will attract new investment in industries having nothing to do with transportation.

Transportation 28

Transportation Software System Efficiency 28

Harvard Business

APRIL 12, 2016

Industry research, for example, shows that companies spent more than $24 billion on leadership and management training worldwide in 2013, an increase of 15% from 2012. product pricing, operational efficiency, customer service, etc.). Someone else designed an experiment to get a plant operation down to zero accidents.

Development 28

Development Leadership Operations Efficiency 28

Harvard Business

NOVEMBER 22, 2016

By Prasad Chintamaneni, President, Global Industries and Consulting, Cognizant. Why the Insurance Industry Can’t Risk Overlooking Artificial Intelligence. Explore organizational redesign and new operating models, including creating a chief data officer function or strengthening an existing position.

Banking 33

Banking Data Financial Media 33

Harvard Business

MAY 15, 2018

Such behaviors include: managing meetings more efficiently, creating an effective climate of email use, blocking time in calendars for reflective work, negotiating role demands, and avoiding triggers that lead us all to jump in on projects or meetings when we shouldn’t, to name just a few.

Agile 52

Agile How To Efficiency Groups 52

Harvard Business

NOVEMBER 13, 2017

Much of the current thinking about new service-delivery models is based on the notion that cost and efficiency of care delivery can be enhanced by directing more patients to primary care. Just imagine the operational demand if primary care providers also had to actively monitor their patients’ health data between office visits.

How To 28

How To Insurance Insurance Travel 28

Harvard Business

JANUARY 5, 2018

In sales-driven companies (think pharmaceuticals and industrial equipment), they are often field sales managers who direct dozens of salespeople in the highest-volume regions. These are jobs in R&D, technology, and other areas vital to a firm’s strategic direction, product development, and process efficiency.

Talent 28

Talent McKinsey Apparel Sales 28