A major insurance firm was undertaking significant business and technical enhancements to their existing variable, fixed, and income annuities offerings. The purpose of this initiative was to solidify their position in the marketplace. Their go-forward strategy was to increase their assets under management through premier money management and protection benefits. Planned new products and market positioning would then be introduced to the market place through a focused rebranding, marketing and communications plan.
- Define policies, standards, processes and procedures for a PMO solution,
- Provide an organization and structure to manage and implement annuities product offerings,
- Develop consistent program summary reporting for senior management,
- Implement tools and project artifacts to support reporting activities,
- Establish program communication and review forums,
- Develop a detailed project plan to encompass all the required tasks, identifying critical paths, dependencies and resources necessary for a successful implementation,
- Support their existing project team with qualified product experts knowledgeable in the global securities industry.
Extend the bandwidth of the current management team by functioning as the Program Management Office. Mitigate the risks associated with deploying new applications to an existing large user community:
- Unify Client’s business, operations and technology development program tracks.
- Deliver new products within schedule, cost, and quality dimensions.
- Enterprise Iron focused particular attention to:
- Managing the new product integration and roll out
- Annuities investment and administration system design
- Formulating new business and operational workflows
- Account opening process and account documentation
- Tax; Legal; Risk; Compliance
- Formulating a new e-delivery strategy and portal re-design.
- Network management
- Improved communications throughout IT, Operations and Business
- Established consistent framework and approach to reporting program progress
- Established summary and detail review procedures that identify problem areas and provide drill down processes to closely monitor those areas
- Improved delivery of project information through consistent and standardized data gathering processes and analysis
- Achieved acceptance, corporate-wide, of value of the PMO organization
