Profit optimization and cost excellence for insurers
Our profit optimization and cost excellence team can help you achieve sustainable outcomes to free up funds that can be invested in transforming outdated business models.
What EY can do for you
For most insurers, expenses are growing faster than premiums. Transformation remains an imperative, but doing more with less can be challenging. Finding the right balance between costs and beneﬁts requires the adoption of proven techniques to build an effective cost management model.
Our team can design and implement a comprehensive proﬁt transformation strategy that’s aligned to your goals, culture and organization. The next-generation model we deliver helps you:
- Set targets and prioritize cost-optimization opportunities
- Mobilize the organization
- Build business case and road map
- Develop initiatives
- Manage and monitor results
We drive successful outcomes thanks to our deep understanding of cost and efficiency improvement opportunities and extensive operational insurance experience, including:
- Powerful combination of skills and knowledge — cost management discipline plus industry and functional experience (strategy, risk, tax, claims, underwriting, policy management and distribution)
- Proven tools and accelerators to detect optimization targets, deﬁne the business case and execute value-creation opportunities
- Broad and deep understanding of the needs of boards and executive teams
- Ability to tailor engagement teams to unique insurer needs
Our latest thinking
Like what you’ve seen? Get in touch to learn more.