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Effective Project Management

The Challenge

Leading insurers are increasingly looking to streamline and simplify their operations, allowing them to focus on their Core business.  The Client, a leading Lloyd’s Syndicate, approached LP Squared and sought to outsource the implementation of their Catastrophe exposure reporting and management platform as they had limited project resources in-house.

Assignment – Delivered

LP Squared assembled a project team with experience in catastrophe management systems who:

  • Ensured early engagement of end users, in the client’s business community and permanent staff
  • Met with the software vendor to gain a good understanding of the application
  • Performed current state analysis of the legacy tool, to define a migration strategy for the new implementation
  • Took ownership of vendor negotiations, including post-go-live support services
  • Project-managed the full implementation, including testing and training
  • Worked flexibly around the client’s daily business activities; and were based remotely where possible, as the client had limited office space

Result – Value added

LP Squared delivered the system to plan and worked with the Vendor to ensure the Business teams were supported until the new system and processes were fully operational:

  • The scope and management of the engagement was agreed upfront, with clearly defined control processes, logistics, communication streams and budgets
  • The client has a fully implemented catastrophe management application with a clear product roadmap and support from the Vendor
  • The end-of-project handover included a set of recommended Project/Portfolio management improvements to help the client assess and prioritise future initiatives
  • The flexibility and scalability of the team (equivalent to one part-time employee) enabled on-time delivery without impacting the client’s existing business activities