INSURANCE OPERATIONS CONSULTANTS

Solutions for optimising underwriting, claims and support functions within insurance businesses

MORE ABOUT CONSULTING MORE ON THE POSS-e WEB APP

Some words about us

We are a boutique management consultancy, led by two partners Jason Cosgriff and Mike FitzGibbon. We specialise in helping insurance operations. Over many years of working closely with businesses, we have developed and refined our methodologies and tools. Used together they allow teams to understand and optimise all aspects of performance. Given the stakes when managing an insurance operation, the benefits of optimising performance can be substantial. We're proud to say we've achieved some truly amazing results.

THE WATERMAN PARTNERSHIP - was launched by Jason over 20 years ago and has been working with financial services clients in Australia and Asia since. Mike and others joined the firm in 2010 as the size of the projects grew. Today the Waterman Partnership has a core group of consultants who work with Jason and Mike to deliver consultancy services.

POSS-e - (which loosely stands for Portfolio Optimisation Software and Service) was created in 2015 as solution to the challenge of ensuring sustainability of the results, after the initial consulting project comes to an end. The foundation of the service is a web application that manages the data, anlytics and generates the actions that will keep the operation performing at its best. The poss-e service provides a cost effective ongoing support arrangement that ensures benefits continue to be achieved, long after the initial project successes.

Bespoke Consulting for Insurance Operations

Our FOCUS

Optimising operational performance in areas like Insurance that manage complex underwriting and claims portfolios is a unique challenge. The right org structure, behaviours and tools are the foundations of any successful operation. We work with you to develop and implement the best setup for your business.

That is, we help you: optimise your team structure, streamline work allocation and tools, develop the metrics and KPIs that ensure you encourage the right behaviours. And once set up, we can work alongside your front-line managers, providing the coaching they need to ensure they can get the best out of their team.

How we can Help

Org structure design

Management systems (from real-time info for teams to board reporting)

Compliance reporting (ASIC,APRA,Life Code)

Productivity, service , quality system design & improvement

Portfolio optimisation

Suspense management

Systems design and process improvement

Forecasting and resource planning

Coaching at all levels of management

Software to support our service

Web Based Applications

Modern web applications are an ideal solution to addressing the often-complex data and reporting elements of managing operations. Spreadsheets are powerful, though are often not seen as a long term solution. Anyone with a PC and web browser can access our tools. The application can be hosted in the cloud or on local IT infrastructure. Access and security can be integrated with the existing infrastructure if required. We build and maintain our own suite of web apps. All our software is owned and developed in-house, which means we can readily adapt our solutions to any business without relying on third parties.

Service Model

Our software allows us to provide ongoing support to our clients through cost-effective service agreements. This gives clients the confidence that changes and improvements gained through a consulting project can be sustained well into the future. The poss-e service model can be tailored to your needs and is designed to address common challenges that arise after projects. It ensures the tools can continue to adapt as the business does, newcomers to your business get the proper introduction and coaching they need and we continue to monitor the effectiveness of the and health of the operation over time.

Data Science

The opportunities to build on the base of our web apps is unlimited. Our software utilises some of the most powerful data tools available, including Google's tensorflow, CatBoost from Yandex and xgboost. If you would like to find out more about the potential of machine learning or have some ideas and want to get cracking, we have the tools to help you get started.

Click here to see the

web app

An intuitive application to monitor your portfolio

Updates from your claims system and/or data warehouse as frequently as you want.
Host in the cloud (AWS) or locally on your infrastructure, alleviating any data security concerns.
Control access to any pages or data via login credentials. Provide access to third parties if that's what you need.
Totally scalable to handle a thousand claims or 100 thousand claims.
Re-brandable. Change the colours and branding to match your business.

Click on these screenshots to see the web app in action

Portfolio Summary - See your portfolio, slice and dice by type, benefit, and source.

Movements - Easily understand incoming and outgoing items and various rates.

Cause - Understand the breakdown of claim cause across the portfolio

Turn-Around Times (TAT) - Track and analyse decisions and cycle times

Comparisons - Compare case managers, insurers, funds etc across key metrics

Timeline - Review the details and the life of a claim on a timeline

Controls - Identify and manage claims that fall outside the business rules

Forecast - See the actual v forecasted incoming items, and see how portfolio size and reserves will be impacted

Meet our team

We're a small but well-rounded team at poss-e. As such, whether its analysing data, coaching or answering a technical enquiry, we can all get involved. We do have four key areas of focus. Here's how we cover the bases...

Mike FitzGibbon

Partner

Mike has an engineering background and has used this together with over 10 years consulting in the financial services industry as the basis for developing the methodologies and tools we use in our projects. Mike also has a passion for data science and is always looking for new opportunities to add value by leveraging the latest technology. /p>

Jason Cosgriff

Partner

Jason has more than 25 years experience consulting to financial services companies. That's a long time and he keeps getting asked back, so clearly he's doing something right! Jason's success is largely due to his unique people skills. His approach naturally puts managers at ease, even when significant change is occuring. His goal is awlays to build a partnership with the client so together they can drive results.

Mark Marlow

Technical

Because Mark combines an understanding of operations, analytics and an interest in technology, he's a bit of an enigma. The poss-e app has been developed by Mark, using the latest web technologies. Unlike most developers, Mark has spent his career working with managers, not chained to a computer. The result is development with the user in mind.

Faye FitzGibbon

People

Ten years of management consulting is a solid background to understand how managers learn. Faye draws on this experience and her knowledge of learning management techniques and solutions to develop our training and support programmes. Faye's got it covered, whether the solution is online learning, easy to use support documentation or classroom training.

Blogs

KNOW THAT YOU HAVE ENOUGH STAFF

A resource requirements model for teams that manage portfolios

Posted by Mike FitzGibbon on September 24, 2018

THE ROBOTS ARE COMING

But are they likely to take your job?

Posted by Mike FitzGibbon on November 18, 2018

To learn more contact us

To find out more about The Waterman Partnership, our consulting services or to arrange for a demo of the software, send us an email :

mikefitzgibbon@poss-e.com

jason@watermanptyltd.com