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Australasian Insurance Company Engages LPS to Meet New Regulatory Standards

Services
Project Management, Programme Management, Scheduling, Transformation
Date
February 17, 2021
New global insurance standards made transformation necessary for this large Australasian insurance company to remain compliant. Here's how LPS has helped them in their journey.

The Problem

This large Australasian insurance organisation was tasked with undergoing a significant and complex transformation due to new global insurance standards that they had to comply with in a relatively short time frame.

The programme of work required the creation of a cohesive integrated programme delivery framework across multiple streams of work to ensure the transformation was set up for success. The three key challenges that the organisation faced were:

 

  • Complexity of Multiple Delivery Models – Due to the large number of streams involved in the transformation a number of delivery models and ways of working needed to be standardised at the programme and dependency management layer.
  • Compliance Based Milestones, Fixed Time – Due to the large size of the programme and the compliance requirements being mandatory, we had to work with the organisation to ensure that the scope was prioritised to meet the regulatory minimum requirements and prevent scope creep.
  • Multiple Geographies – Complexity in dependency management and scheduling occurred due to multiple vendors being in different time zones. Covid-19 also meant that the team from the vendor couldn’t spend any time in Australia.

 

The Solution

 

The organisation brought LPS in to own the development of a delivery framework and an integrated programme schedule that would break down this highly complex transformation goal through standardising quality controls, communications, and deliverables across all streams of work.

Working across tools like Microsoft Project, Confluence and Jira, our team standardised and integrated the required project timelines and streams, enabling a programme schedule that met the timeline required for the organisation to comply with the incoming regulation.

This framework required our team to work remotely with organisations in Australia, Europe, and New Zealand, and we were able to set up a collaboration framework and manage a global schedule taking into account different time zones.

Our project and programme management expertise enabled us to deliver this piece of work for the organisation successfully, delivering the following over the past 3 months:


  • A delivery and quality framework
  • Accountability and cadence for continual improvement
  • An integrated programme schedule
  • Process and cadence for ongoing management

What’s Next

 

LPS’s success in the creation of this programme delivery framework led the organisation to select us to manage the framework and scheduling going forward, as well as automating the feed of dependency and schedule data from Jira and Microsoft Project.

We’re looking forward to our continued work with this insurance organisation to support them in this complex transformation programme and ensure its success!

Want to learn more about our programme and project solutions? Click here to explore our capabilities and how we can help your projects and programmes succeed.

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