{"id":1296,"date":"2022-09-26T00:31:32","date_gmt":"2022-09-26T00:31:32","guid":{"rendered":"https:\/\/essencenetworks.com\/essence\/?p=1296"},"modified":"2023-11-06T21:41:10","modified_gmt":"2023-11-06T21:41:10","slug":"regulatory-compliance-design-and-enabling-business-transformation-for-insurance-firm","status":"publish","type":"post","link":"https:\/\/essencenetworks.com\/essence\/regulatory-compliance-design-and-enabling-business-transformation-for-insurance-firm\/","title":{"rendered":"Designing for Change &#8211; enabling Business Transformation for Health Insurance Firm"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"1296\" class=\"elementor elementor-1296\" data-elementor-settings=\"{&quot;ha_cmc_init_switcher&quot;:&quot;no&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-e7be30e e-flex e-con-boxed e-con e-parent\" data-id=\"e7be30e\" data-element_type=\"container\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-3f0a256 e-con-full e-flex e-con e-child\" data-id=\"3f0a256\" data-element_type=\"container\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-e496d87 elementor-widget elementor-widget-ha-post-title happy-addon ha-post-title\" data-id=\"e496d87\" data-element_type=\"widget\" data-widget_type=\"ha-post-title.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"ha-post-title elementor-size-default\">Designing for Change &#8211; enabling Business Transformation for Health Insurance Firm<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ada8a6e elementor-widget elementor-widget-ha-post-info happy-addon ha-post-info\" data-id=\"ada8a6e\" data-element_type=\"widget\" data-widget_type=\"ha-post-info.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"ha-inline-items ha-icon-list-items ha-post-info\">\n\t\t\t\t\t<li class=\"ha-icon-list-item elementor-repeater-item-b739cd5 ha-inline-item\" itemprop=\"about\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"ha-icon-list-icon\">\n\t\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-tags\" viewBox=\"0 0 640 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M497.941 225.941L286.059 14.059A48 48 0 0 0 252.118 0H48C21.49 0 0 21.49 0 48v204.118a48 48 0 0 0 14.059 33.941l211.882 211.882c18.744 18.745 49.136 18.746 67.882 0l204.118-204.118c18.745-18.745 18.745-49.137 0-67.882zM112 160c-26.51 0-48-21.49-48-48s21.49-48 48-48 48 21.49 48 48-21.49 48-48 48zm513.941 133.823L421.823 497.941c-18.745 18.745-49.137 18.745-67.882 0l-.36-.36L527.64 323.522c16.999-16.999 26.36-39.6 26.36-63.64s-9.362-46.641-26.36-63.64L331.397 0h48.721a48 48 0 0 1 33.941 14.059l211.882 211.882c18.745 18.745 18.745 49.137 0 67.882z\"><\/path><\/svg>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"ha-icon-list-text ha-post-info__item ha-post-info__item--type-terms\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"ha-post-info__terms-list\">\n\t\t\t\t<a href=\"https:\/\/essencenetworks.com\/essence\/category\/case-studies\/\" class=\"ha-post-info__terms-list-item\">Case Studies<\/a>\t\t\t\t<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1f28c3cc elementor-widget elementor-widget-text-editor\" data-id=\"1f28c3cc\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\n<p class=\"wp-block-paragraph\" id=\"top\">Changes to legislation meant that the health insurance firm was facing major changes to its core business. This was at a time when their Programme Office was already dealing with a full work programme and was in negotiations with multiple vendors for critical services that it relied on.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Key risks involved changes to its core financial IT systems which was also highly inter-dependent on with older business processes and legacy infrastructure.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This case study outlines our approach that we took to enable the organise manage risks professionally and ensured a smooth transition \u2013 maintaining confidence across all the relevant stakeholders &#8211;  internal programme management, finance, policy and internal audit functions. We used progressional risk management, change and architecture frameworks to enable the transformation.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Subsequently, we&nbsp; helped the firm develop its legal compliance programme from an all-of-organisation perspective, providing advice to the CEO Office and Board of Directors on its compliance framework. The Board then committed to an improved framework, designed by us, which they utilised to direct funding to proactively control for emerging strategic and operational risks.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Please contact us to receive our full case study.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-ea74ba9 e-con-full e-flex e-con e-child\" data-id=\"ea74ba9\" data-element_type=\"container\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-3714ff2 elementor-widget elementor-widget-sidebar\" data-id=\"3714ff2\" data-element_type=\"widget\" data-widget_type=\"sidebar.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<li id=\"search-2\" class=\"widget widget_search\"><h2 class=\"widgettitle\">Search<\/h2>\n<form role=\"search\" method=\"get\" class=\"search-form\" action=\"https:\/\/essencenetworks.com\/essence\/\">\n\t\t\t\t<label>\n\t\t\t\t\t<span class=\"screen-reader-text\">Search for:<\/span>\n\t\t\t\t\t<input type=\"search\" class=\"search-field\" placeholder=\"Search &hellip;\" value=\"\" name=\"s\" \/>\n\t\t\t\t<\/label>\n\t\t\t\t<input type=\"submit\" class=\"search-submit\" value=\"Search\" \/>\n\t\t\t<\/form><\/li>\n\n\t\t<li id=\"recent-posts-2\" class=\"widget widget_recent_entries\">\n\t\t<h2 class=\"widgettitle\">RECENT POST<\/h2>\n\n\t\t<ul>\n\t\t\t\t\t\t\t\t\t\t\t<li>\n\t\t\t\t\t<a href=\"https:\/\/essencenetworks.com\/essence\/audit-committee-engagement\/\">Enabling engagement with the Audit Committee<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t<li>\n\t\t\t\t\t<a href=\"https:\/\/essencenetworks.com\/essence\/controlling-compliance-costs-key-areas\/\">Controlling compliance costs : Key Areas<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t<li>\n\t\t\t\t\t<a href=\"https:\/\/essencenetworks.com\/essence\/the-economic-case-for-standards\/\">The economic case for standards<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t<li>\n\t\t\t\t\t<a href=\"https:\/\/essencenetworks.com\/essence\/flood-risk-in-the-hutt-valley-and-climate-change-response\/\">Flood Risk in the Hutt Valley and Climate Change response<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t<li>\n\t\t\t\t\t<a href=\"https:\/\/essencenetworks.com\/essence\/regulatory-compliance-design-and-enabling-business-transformation-for-insurance-firm\/\">Designing for Change &#8211; enabling Business Transformation for Health Insurance Firm<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t<\/ul>\n\n\t\t<\/li>\n<li id=\"custom_html-2\" class=\"widget_text widget widget_custom_html\"><h2 class=\"widgettitle\">WHAT OUR CLIENTS SAY<\/h2>\n<div class=\"textwidget custom-html-widget\">\r\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\" style=\"font-size:16px\">\r\n<p class=\"wp-block-paragraph\"><strong>\"Essence Networks won the confidence of the business by explaining complex issues in an easy to understand manner.\"<\/strong><\/p>\r\n<cite>Group Manager, Leading Central Government Agency, NZ<\/cite><\/blockquote>\r\n\r\n\r\n\r\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\" style=\"font-size:16px\">\r\n<p class=\"wp-block-paragraph\"><strong>\"\u2026 excellent work!\"<\/strong><\/p>\r\n<cite>Manager, Risk &amp; Assurance, Leading Insurance Firm, NZ<\/cite><\/blockquote>\r\n\r\n\r\n\r\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\" style=\"font-size:16px\">\r\n<p class=\"wp-block-paragraph\"><strong>\"\u2026 identified risks early for our core financial system and helped us take corrective action.\"<\/strong><\/p>\r\n<cite>Manager, IT Enterprise Architecture Group, Leading Insurance Firm, NZ<\/cite><\/blockquote>\r\n\r\n\r\n\r\n<blockquote class=\"wp-block-quote is-style-default is-layout-flow wp-block-quote-is-layout-flow\" style=\"font-size:16px\">\r\n<p class=\"wp-block-paragraph\"><strong>\"\u2026 simply cost effective and elegant.\"<\/strong><\/p>\r\n<cite>CTO, HiTech startup, USA<\/cite><\/blockquote>\r\n<\/div><\/li>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Designing for Change &#8211; enabling Business Transformation for Health Insurance Firm Case Studies Changes to legislation meant that the health insurance firm was facing major changes to its core business. This was at a time when their Programme Office was already dealing with a full work programme and was in negotiations with multiple vendors for [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24],"tags":[],"class_list":["post-1296","post","type-post","status-publish","format-standard","hentry","category-case-studies"],"_links":{"self":[{"href":"https:\/\/essencenetworks.com\/essence\/wp-json\/wp\/v2\/posts\/1296","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/essencenetworks.com\/essence\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/essencenetworks.com\/essence\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/essencenetworks.com\/essence\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/essencenetworks.com\/essence\/wp-json\/wp\/v2\/comments?post=1296"}],"version-history":[{"count":11,"href":"https:\/\/essencenetworks.com\/essence\/wp-json\/wp\/v2\/posts\/1296\/revisions"}],"predecessor-version":[{"id":2770,"href":"https:\/\/essencenetworks.com\/essence\/wp-json\/wp\/v2\/posts\/1296\/revisions\/2770"}],"wp:attachment":[{"href":"https:\/\/essencenetworks.com\/essence\/wp-json\/wp\/v2\/media?parent=1296"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/essencenetworks.com\/essence\/wp-json\/wp\/v2\/categories?post=1296"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/essencenetworks.com\/essence\/wp-json\/wp\/v2\/tags?post=1296"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}