CLIENT: Leading Insurance Company in UAE
PROJECT DURATION: 5 Years (including implementation and executive committee participation)
OBJECTIVE: The primary goal of the project was to conduct a comprehensive strategic review of the insurance company’s operations, with a focus on regional expansion and operational optimization. This included the development of a sustainable corporate structure, implementing technological solutions, and establishing partnerships for a health insurance program with a foreign provider.
SCOPE OF WORK:
I-Strategic Review and Regional Expansion Planning
a) Conducted an in-depth strategic review of the company’s current operations, identifying strengths, weaknesses, and opportunities for growth.
b) Developed a comprehensive plan for the company’s expansion into other Middle Eastern countries, including market entry strategies, regulatory considerations, and competitive analysis.
II-Corporate Structure Development
a) Proposed and designed a new corporate structure to support the company’s strategic objectives, ensuring scalability for regional expansion.
b) Clearly defined job roles, responsibilities, and authorities within the company, ensuring that management layers and reporting lines were optimized for decision-making and operational efficiency.
c) Established a management reporting system to track key business metrics and ensure transparency at all levels of the organization.
III-Technology Applications
a) Recommended and proposed the best technology applications to enhance the company’s operations, focusing on automation, data management, and customer relationship management (CRM).
b) Identified opportunities for digital transformation within the insurance operations, including policy administration, claims processing, and customer engagement.
IV-Health Insurance Program Negotiation
a) Played a pivotal role in the negotiation and finalization of a comprehensive health insurance program with a foreign provider, ensuring alignment with global best practices and competitive pricing.
b) Ensured the health insurance program integrated smoothly into the company’s existing portfolio while offering differentiated value to clients in the UAE and the broader region.
V-Operational Manuals and Training
a) Developed a complete set of operating manuals to standardize procedures across all departments, ensuring consistency, compliance, and efficiency in service delivery.
b) Conducted extensive training programs for employees across all departments, enhancing their understanding of new operational procedures, corporate policies, and technological applications.
IMPLEMENTATION PHASE: Following the successful completion of the strategic review, the project was extended for approximately 5 years.
HENC Consultants took on a larger role in the company’s operations, including:
1) Full Implementation: Oversaw the full implementation of the recommended corporate structure, job roles, management reporting systems, and technological solutions.
2) Executive Committee Participation: Acted as a member of the executive committee, actively contributing to high-level decision-making processes, monitoring the company’s performance, and steering the execution of strategic initiatives.
3) Ongoing Training and Support: Continued to provide training and operational support to ensure the sustainability of the improvements made during the initial phases of the project.
