Practice Sectors: Insurance

Credentials

LUCID Staff are experienced professionals who have worked in the Insurance Sector, ranging from National brokers to Global brokers to Insurance companies. Our diverse skills span Senior Management, Operations, Finance, I.T, HRM and People Development.

OUR TEAM are inspired by opportunity, passionate about innovation, entrepreneurial in spirit and driven to deliver solutions.

Our View of the Sector

The Insurance sector has seen a shift over the past few years toward a more professional services model. Clients are now sophisticated buyers with clarity, transparency and fixed fees the order of the day.

The shift is very evident when we look at how Insurance brokers now measure their performance with Key performance Indicators (KPI’s), balanced score cards and traffic lights reporting more common place than ever.

We have seen through the recession a move to control costs with all expenditure being analysed as never before and any spend having to be justified as necessary and beneficial.

Brokers have to become leaner and meaner with Boards’ now spending more time on the financials and cash-flow forecasts. The move of Brokers to becoming smarter organisations is under way with common sense breaking down previous resistance to change.

The end result will be smarter Brokers operating efficiently and much better able to cope with changes in the market place in future

Challenges’ facing Insurance Brokers today

Getting new clients and keeping them.

Collecting cash from clients.
Improve your Budgeting and Forecasting to deal with the real time response required in the current market place.
Maintaining profit margins as Fee levels drop quicker than you can cut costs.
Getting your systems to work together without having to spend a fortune
Getting around the inadequacies’ of your Business systems without having to change.

How can LUCID help?

Improve Reporting
Data Extraction & Enhancement
Report Writing
Improve Budgeting and Forecasting
Maximise Cash-flow
Increase Profitability
Better Business Development information
Business Process & Work Practice Re-engineering
Project Management
On-Demand Solutions

What next?