Insurance Firm
An insurance firm embarked on a strategic initiative to enhance its data and business intelligence (BI) capabilities. Recognising the need for specialised talent to achieve this goal, they selected us as the sole recruitment supplier. Our task was to build an entire data and BI function from scratch, starting with a small team and scaling it to meet the growing demands of the business.
The Requirement
The primary objectives of the recruitment drive were to establish a robust data and BI team capable of driving the firm’s digital transformation, source and place talent across all levels of seniority, and enable the development of a new cloud-based claims management system to streamline operations and achieve significant cost savings.
How We Helped
We collaborated closely with the insurance firm’s leadership to define the structure, roles, and competencies required for the new data and BI function. Leveraging our extensive network and industry expertise, we identified and attracted top-tier talent with the necessary technical skills and cultural fit. We implemented a rigorous recruitment process, including detailed role-specific assessments and interviews, to ensure high-quality hires. Adopting a phased approach to team building, we started with a core team of five and progressively scaled to meet the evolving needs of the business. To address immediate skill gaps and provide expertise not readily available through permanent hires, we supplemented permanent hiring with specialist contract resources.
During the recruitment process, we encountered several challenges: the specialised nature of the roles required made finding suitable candidates challenging in a competitive job market, balancing the need for rapid team expansion while maintaining high standards of candidate quality and cultural fit, and ensuring that new hires possessed the expertise to develop and implement a cutting-edge cloud-based claims management system. To overcome these challenges, we developed a proactive talent pipeline, continuously sourcing and engaging potential candidates to ensure a steady flow of high-quality applicants. We enhanced the insurance firm’s employer brand to attract top talent by highlighting the innovative projects and growth opportunities available within the data and BI function. Partnering with the firm, we created onboarding and training programs, ensuring new hires were equipped with the knowledge and skills needed to succeed in their roles. Additionally, we provided specialist contract resources to address immediate project needs and fill critical skill gaps that were challenging to meet with permanent hires alone.
Results
Our strategic and proactive approach led to outstanding results. We successfully expanded the data and BI team from 5 to 40 members over five years, placing individuals across all levels of seniority. The use of specialist contract resources supplemented permanent hires, bringing in critical skills and expertise that were not readily available, ensuring the successful development and implementation of the cloud-based claims management system. The team developed and implemented a new cloud-based claims management system, significantly transforming the firm’s operational efficiency. The new system resulted in a significant full-time equivalent (FTE) saving, which enabled them to significantly reduce headcount and result in a large financial saving. In addition to this, even in instances where their working demands increased, the new system was able to manage this increase in workload without a large increase in headcount being required to maintain the same standards.
Reducing the workload and enabling the redeployment of approximately 50 employees, translating to a 10% FTE saving for the company. The cloud-based system improved data accuracy, streamlined claims processing, and enhanced decision-making capabilities, positioning the firm for continued growth and success.
Through our dedicated efforts and strategic approach, we not only met but exceeded the insurance firm’s recruitment objectives, playing a crucial role in their digital transformation and operational efficiency.