Challenges
Financial services
Banks and insurers run on scarce specialist judgement, tight regulatory clocks and processes that have grown up over decades. Complexity builds up between the front line, operations, risk and compliance, and much of its cost is invisible.
Challenges in financial services
Common challenges we help with
Challenge
Costs that must come down fast, without losing control
A hard cost target and a tight deadline, while service and control have to hold up the whole way through.
Global banking
Costs down more than 30%, ahead of time and under budget
The Irish subsidiary of a foreign bank had to cut costs by more than 30% within 12 months to stay open, while training its own improvement teams. The target was beaten, the programme finished early and 15% under budget, and ServiceForce became the daily operations management system.
Challenge
Operations that can’t take on more work
The business needs operations to absorb more from other teams, but the team is already at full stretch.
Insurance
Central operations capacity up more than 25%
One of Ireland’s largest insurers, with over 500,000 customers, needed its central operations team to take on more work from Claims and Underwriting. Capacity rose by more than 25% and value-added work by 15%, with better customer service, cooperation between teams and morale.
Challenge
IT support that can’t keep up
Tickets take too long, ad-hoc requests eat the team’s time, and planned work keeps slipping.
Insurance IT support
Ticket time cut from 3.5 hours to 1.5 hours
The CIO of a major insurer aimed to release 15% of IT support capacity over two years. Within six months, ticket processing time fell from 3.5 to 1.5 hours and ad-hoc work fell from 43% to 2% of team capacity.
Challenge
Complaints that keep coming back
A complaints model built to defend rather than resolve. Retuned, straightforward cases are put right early and fairly, fewer reach the Ombudsman, and the true cost of a complaint becomes visible.
We help wherever specialist judgement is the bottleneck and the work crosses the front line, operations, risk and compliance: investigations, reviews and claims handling. Talk to us about yours.
What clients say
Expertivity get involved in the real execution of change and transformation, rather than just talk the talk. In fact, the senior management team would consider them a lightning rod for the disaffection of change.
Brendan Lynott, formerly Distribution Director, PTSB
We needed seismic cost reductions, in addition to wanting to empower staff, motivate them and improve morale in the context of the banking crisis. Expertivity brought significant support to our senior management team and staff.
Brian Lande, Head of Business Design, Strategy and Planning, Bank of Ireland
We were involved with Expertivity in a major change management programme to reduce costs by 30%. As part of the solution Expertivity embedded their ServiceForce operations management system to help manage capacity and deliver improved efficiencies. Put simply, they delivered the required results.
Celine Singleton, former COO, Rabobank