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The London Market has been undergoing fairly radical change over recent years, as a result of a number of contributory factors, including the regulation of the sector by the FSA, competition from emerging international insurance markets and the introduction of new information technology, allowing the electronic transfer of placing, claims and accounting data. The next five years promise even bigger challenges and change. The question is whether firms are ready and adaptable for the journey ahead.
Firms across the Square Mile are at different places on the change curve, but we all know that we have to respond to the inevitable - the question is when, how and to what extent? As said by President Kennedy "The time to repair the roof is when the sun is shining".
Project and change management are evident across the entire London Market, as we modernise our practices and processes. Companies opt for different ways of managing internal and external change. The biggest companies employ full time Project Managers, or co-opt people from other business units. The smaller and mid sized companies often seek support from external specialists, which proves more efficient and cost effective, as it enables valuable staff to continue in their client facing or back office duties. Using a company like Amethyst is highly efficient as we speciaise in this field, therefore we are able to quickly deliver results with minimal impact to your business. Amethyst consultants have built up a wealth of knowledge and years of practice managing projects and leading programmes of change in the London Market and around the globe. We understand this Market and how it ticks. We involve all stakeholders in the design and implementation and ensure executive visibility at all times.
We design projects and change programmes on a bespoke basis, according to our client's expectations, using recognised project management methodology, such as Lean /Six Sigma/DMAIC/DMADV/Kaizen. We are passionate about business excellence and agree clear milestones and deliverables, with the project sponsor. We use clear visibility tools to ensure that we stay on track, including RAG charts. Before we commence an assignment, we undertake a risk assessment, as well as highlighting principal dependencies. Curve balls have a tendency of impacting projects in this Market, due to the number of different parties involved in the full lifecycle of a placement or claim.
This is where Amethyst can add real value - our consultants have considerable experience in this Market.
We believe that to be successful, a project or change programme is dependent on three C,s - Control, Competence, Communication. We guarantee client satisfaction.So whether you've got a project in mind or you've already completed a project and require an independent post implementation/deliverables review, contact Amethyst today for a confidential and complimentary discussion.
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| Project plan scoped and signed off |
Key success factors agreed from outset |
| Primary stakeholders engaged - workshops |
Key milestones set/reviewed – KRA/KPI |
| Dependencies established |
Experience in running multiple workstreams |
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