Operating model and organisational design
We helped a client reduce complexity whilst improving profitability and scaling for the future
We were asked by our client to review their corporate sales division to ensure an effective, customer focused, and regulatory compliant operating model
The challenge
In 2017 our client, a leading UK Insurance provider, agreed a number of initiatives in response to an action in an assessment letter received from the FCA
Having completed a number of the initiatives for the Consumer division, PEN was asked by the client’s corporate sales division to support with enhancing it’s distribution capability, specifically looking at reviewing their operating model to ensure an effective, customer focused, and regulatory compliant operating model
Between September 2017 and December 2017, PEN worked with the corporate sales team to support this review
Our approach
During the 3 month period, the PEN team worked closely with a number of SMEs across the business to document the current state before developing proposals for the future operating model to support the response to the FCA assessment. This included:
- Mapping out existing and desired client journeys across all client types and products
- Assessment of the existing governance structure
- A full review of the organisational structure and recommendations for improvement
- Recommendations for a desired operating model focused on efficiency, compliance and customer
The 3 month review resulted in the detailed documentation of a programme of work to move the Corporate Sales team towards the future operating model, targeting internal enhancements within the first year and more significant strategic changes in years 2 and 3.
The outcome
Our recommendations provided a clear direction for the client to move towards an efficient, customer focussed operating model that would remain compliant in a heavily regulated industry
During our review, a new role of director of distribution across all of Sales was filled, resulting in both the Consumer and Corporate sales divisions being brought closer together. As a result, number of organisational structure changes were made which aligned to the our recommendations
The complete list of recommendations, including required capabilities and detailed programme recommendations, was used by the client’s leadership team to support the development of the sales & distribution team strategy and key programmes of work from 2018 onwards
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