F500 Insurer Enhances Asset Change Allocation Process with Skan

  • IndustryFinancial Services & Insurance
  • Company Size 15000+
  • Revenue $15B+
  • Location United States
01

Our Client

The client is a leading global provider of financial investment management and insurance services, offering a comprehensive range of products to individuals, businesses, and institutional clients. With a history dating back to 1879, they have established themselves as a trusted provider of retirement solutions, asset management, and insurance products across more than 80 countries.

02

Objective

The challenge was lack of end-to-end visibility within the process framework, particularly concerning work executed outside of the four core process applications utilized. This insight deficit extended to the usage of other applications, potentially leading to redundant processes.  

Thus, the goal was to comprehensively understand the execution of the end-to-end process by identifying key workflows and applications where most of the participant time was spent, pinpointing participant handoffs, and capturing the frequency and nature of switching between applications. Through this endeavour, the client aimed to gain a holistic understanding of their operational landscape, streamline processes, and enhance overall efficiency.  

1. Understand The End-to-End Process
2. Improve Operational Efficiency
03

Solution

In response to the challenge faced, Skan provided comprehensive insights into their operational processes. Skan offered data on various aspects of their workflow, including the average time spent on core versus non-core applications per day, that enabled a detailed understanding of resource allocation and potential bottlenecks.  

Additionally, Skan facilitated the identification of process enhancement opportunities by sharing the automation score of all activities, highlighting areas ripe for automation and efficiency improvements.  

Furthermore, the tool provided in-depth analytics on application utilization and activity switching patterns, shedding light on workflow dynamics and potential redundancies. Finally, Skan enabled the client to analyse processing time at both the case and application levels, allowing for targeted optimization efforts and performance monitoring. Insights from Skan empowered the client to make informed decisions, streamline processes, and drive efficiency across their operations.  

04

Outcome

Insights from Skan helped the client gain comprehensive end-to-end visibility into their processes, aided by the establishment of benchmarks to measure performance, and identify areas for improvement. This visibility empowered the client to make informed decisions and implement targeted optimization strategies, ultimately leading to enhanced productivity and efficiency across their operations.  

Additionally, by streamlining workflows and leveraging automation opportunities identified through Skan's insights, the client drove improved productivity levels and higher employee satisfaction.  

Moreover, emphasizing data-driven insights fosters a culture of reliance on accurate information, that empowers both internal teams and clients to engage in meaningful, informed conversations.  

Overall, insights from Skan help this client improve operational performance, increase employee satisfaction, and strengthen decision-making capabilities. 

Skan's performance exceeded all expectations, delivering insights that our VP-level audience didn't even know existed. This new data will be instrumental in driving our organizational transformation, leaving the competition far behind.

Assistant Director, Innovation & Strategy

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