Insurance

We have deep experience in the business of insurance. While insurance is conceptually simple, we know that death is in the details. We bring decades of experience both hands-on and consulting in the important areas of distribution, customer relations management, financial and fulfillment processes. 

Business case studies available. 
Contact: Insurance@wexfordpartners.com

Sample Engagements

• Small Business Unit

Led the formation of a small business unit to support health and accident products for a major insurance company in response to national health care initiatives that included product redesign, rate increases, and management information systems, which resulted in profitable growth of the product line. 

• Property Insurance

Formed an operating company, which included the implementation of the PMSC property system, which was responsible for the property product marketed in twenty-two states through over three thousand captive agents. The company had a sub-100 Combined Ratio with an average growth rate of over 5%.

• Specialty Insurance Company

Led a process re-design for a specialty property insurance company. The project’s scope included the underwriting, claim, payment processing, and policy production areas. The projects focused on increasing customer satisfaction through improved response to their needs, while seeking cost containment strategies. The projects were also heavily involved in the change management and organizational structure issues. 

• Asset Retention

Improved the response time, at a large multi-line financial firm, and compliance in the processing of death claims of variable annuity products without changing the technology infrastructure. Resulted in significant improvements in the timeliness of handling of issues, this dramatically improved the percentage of assets retained.