Financial ServicesMergers and Acquisition

Our Approach

Working from the business plan to analyse business performance we developed new systems, organisational designs and reproducible processes. A new cohesive set of M&A processes, reports and change plans were developed that could be easily understood, deployed quickly and adopted across multiple business types.

Introduction

As an acquisitive insurer our client had grown significantly through acquisition over the last ten years. The ambition was to increase the rate of both acquisitions and divestments to provide maximum yield to their shareholders.

Challenge

Already 17 months in to a 3 year mergers and acquisition programme, the business was six months behind schedule and over budget with no clear timelines on completion, the priority was to bring the programme back on track. A capability analysis identified a need to restructure the incumbent change team and break away from an overly administrative PRINCE II framework.

Solution

Deployment of a more AGILE approach focussed on identifying and mitigating critical business risks. Redesigning business processes so that customer groups and policies could be migrated quickly. A new governance and Management Information Framework was installed to provide real time project updates to key stakeholders.

Benefit

Three discrete businesses successfully migrated, integrated and operating as business as usual in less 12 months. Successful migration and divestment without any FCA breaches allowing the seamless transition of £30m of policies and a standard method with clear processes and documentation for future M&A activities.

SYSTEM ARCHITECTURE

PROCESS SIMPLIFICATION

MANAGEMENT REPORTING

ORGANISATION DESIGN

PROCUREMENT SYNERGIES

REAL ESTATE SYNERGIES

TARGET OPERATING MODEL

Our Client

With over 100 offices nationwide and more than 4,000 staff to deliver 200 specialist policy types our client is one of the largest specialist providers in the UK.