Case Study 1 – Pensions Provider

Our client was a long standing pension’s provider, also in the business of administering a number of closed books, managing a range of individual and group policies. There was an ‘on-going’ cost reduction programme which was focussed on core processing capabilities and associated staffing costs. Our task was to undertake a full review of all non-core overheads and expenses.

This sizeable project entailed reviewing over 20 different expense categories. Our client wanted an unobtrusive review involving minimal internal effort as key staff were already engaged on other core reviews and critical ‘business as usual’ activities.

We obtained detailed information and spent little time ‘on site’ other than to validate invoice documentation and pricing. We then undertook the time consuming process of liaising with existing and potential suppliers to identify more competitive pricing and to ensure product or service quality would not be compromised.

We were able to identify significant overall benefits ranging from 8% to 24% and achieved an overall potential saving of 19%. At the same time we also identified cases where product quality could be improved at a lower cost. With our help, we were able to ensure that 86% of all identified savings were actually delivered.