Risk Management in Insurance

Risk Management in Insurance Success Story

Business Challenge

  • Manual and siloed risk registers and tools, legacy processes.
  • No single pane of glass on risk posture, basic reporting, and metrics.
  • Lack of end-to-end service delivery and governance.

 

What we did

  • Principal Architecture for Integrated Risk Management (GRC) architecture and delivery.
  • Provided architecture services for multiple, concurrent GRC activities across multiple business areas.
  • Provided ServiceNow platform governance direction relating to ServiceNow GRC and GRC’s integration with current and future ServiceNow applications.
  • Implemented integration with LexisNexis for APRA regulatory requirements.
  • Coalescing business requirements for Technology, Risk, Regulatory Compliance, and Cyber teams.
  • Process design, architecture and platform configuration leadership working closely with ServiceNow and client senior leadership team.
  • Established Technical Design Board with Steer Co oversight to address architecture and technical decisions.
  • Agreed capability roadmap which managed the organisational change management and ensured a well governed release pipeline.
  • Solution rolled out to New Zealand region and use cases adapted to best practice solution.

 

Outcomes

  • Scalable risk and compliance solution for the enterprise. 
  • Automation of control compliance processes and reporting.
  • Decommissioning of outdated Excel registers and clean-up and alignment of data.
  • Tailored solution for each department whilst limiting the use of customisations to maintain a clear upgrade path.