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Leadership Alignment Strategy for Barbados Based Insurer

Client Challenge

  • The client is the country’s leading general insurance provider and a leading life insurance provider
  • The incoming CEO required a review of the strategy, an assessment of the leadership team’s capability to execute it, and the efficacy of the organisation structure and operating model
  • The CEO’s immediate challenge was for his leadership team to work together constructively and collaboratively to address the business issues
  • The challenge focused on the alignment of the organisation to the ambition, becoming more customer focused and building the capabilities required to make the strategy happen
  • Some specific expertise was required in prioritising and implementing some of the key strategic initiatives to gain momentum and traction

 

What we did

  • Worked with the leadership team to develop a cause and effect model of strategic priorities, and a shared understanding of what it means to implement in a strategy map and balanced scorecard 
  • Identified the major shifts and changes and aligned a set of priority initiatives
  • Assessed leadership strategy execution capability and the alignment of the operating model to the business ambition
  • Provided industry expertise and specific advice on advancing key strategic initiatives (new market strategy, single view of the customer, change management, process re-engineering, productivity improvement)
  • Worked with leadership to improve the way they operate as a team and lead the business
  • Trained all employees on the new ways of working

 

The result

  • 2018 – 2020 strategy clarified, articulated and translated into an operational framework owned by leadership and agreed by the Board
  • Designed and implementing a new customer-oriented organisation structure and operating model with new ways of working and a more dynamic capability to deliver the strategy
  • Established strategy management processes and governance approach to realise the benefits promised by the strategy 
  • Creating a cultural shift to working collaboratively as one team, embracing change, engaging all employees in the business success
  • Identifying and implementing performance improvement opportunities
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