Insular Life: Moving Towards Future-Ready Insurance Operations
Country
Philippines
Industry
BFSI
Employees
350 +
The Client
Insular Life is the first and largest Filipino life insurance company and the only mutual company in the Philippines. Operational for more than 110 years, the company currently has 700,000 policyholders for group and individual businesses.
The Project
Insular Life embarked on its business process improvement journey to support its vision of being a future-ready, agile and customer-centric business. The project aimed at empowering employees to take charge of their processes and building a foundation for sustainable process excellence.
Challenges
- Siloed efforts in achieving efficiency
- Lack of a centralised process repository
- Manual, inefficient, undocumented processes
- Benefits were not traceable
- Lack of process transparency
Business Outcomes at a Glance
- Cost savings due to the decommissioning of tools and proper resource utilisation.
- Empowering employees to take charge of their processes
- Estimated future savings are to be around 150 million Pesos ($7.52 million) annually for ongoing projects.
- Uniform and consistent brand experience for customers with Process Standardisation.
More Success Stories
