Case Study

Data strategy for a global reinsurance business

Strategy & Data | Insurers & Growth Companies | London

The Background

  • A global reinsurance business had grown significantly over the past 5 years and it was planning to grow further over the next few years
  • The organisation had recently launched a multi-year
    transformation programme to support the future growth
  • Data processing, reporting and analytics were particularly important to this organisation due to the nature of the business
  • NextWave was engaged to develop the data strategy. This was one of the first major pieces of work carried out as part of the transformation programme

The Challenge

  • Many of the existing processes relating to data were very manual and therefore would have become increasingly expensive as the business continued to grow
  • The organisation had experienced some significant issues with its technology platforms and whilst it had stabilised its systems, it hadn’t invested significantly in new technologies or tools
  • The organisation structure was still evolving. Greater clarity was required around the roles and responsibilities within different parts of the business

The Approach

  • Meetings with the COO, CIO and Heads of Functions to understand the business objectives and current challenges
  • Documentation of the data capabilities which the organisation needed to deliver its data strategy
  • Target state design for key areas of the operating model
  • A summary of the gaps between the target and current state
  • A roadmap for the implementation of the data strategy
  • A review and assessment of the business case


The Impact

  • Two months to analyse the business problems, prepare the data strategy document and socialise the recommendations with key stakeholders
  • A set of key decisions which senior management needed to take to accelerate the data strategy
  • Positive feedback from stakeholders on the recommendations including new insights which key stakeholders were not previously aware of


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