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Case Study on Restructuring

RESTRUCTURING

Restructuring in an insurance company: From wild growth structures to an efficient centralization of core tasks

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We know that there is great potential in centralization, but we have to apply it..."

RESTRUCTURING AS A MEANS AGAINST UNCONTROLLED GROWTH

SITUATION:

The structure of an insurance company was similar to a jungle:
After several acquisitions and strong but relatively uncoordinated organic growth, it consisted of a large number of divisions and subsidiaries. Tasks overlapped, collaboration was inconsistent, and in some cases, the company's various divisions were even in competition with each other.
 
A new managing director was given the clear task of cleaning up the company's structure and thus, significantly improving the results. Centralization - both functionally and spatially - of core tasks should be an important part of his restructuring plan.
 
The existing management team recognized the disadvantages of the status quo, but personal resources of success and power were essentially linked to the existing situation. As a result, the new managing director could not count on the full support for his restructuring plans.
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We need an initial overview, so that we may employ the right measures."

A COLORFUL MIX: THE CRUCIAL POINTS AT A GLANCE

CHALLENGE:

  • The restructuring goals must be clearly defined to ensure efficiency
  • Resistance within the leadership team must not be ignored.
  • A clear picture of the overlapping tasks and services within the company must be created in order to develop a meaningful centralization concept.
  • Options for the integration of subsidiaries must be examined.
  • Processes for the centralized tasks are still missing.
  • The new structure will also create new teams that may need to be supported.
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Our change starts with the top team. We need clear objectives."

STEPPING STONES OF THE JOURNEY

SOLUTION:

Although the new managing director is wanting to implement specific measures as soon as possible, we start with a thorough analysis of the initial situation and the desired goals.

We are convinced that every change begins at the level of understanding. The reason why something should change must be clearly communicated before work on process design can begin.
  • Deep dive into the organization:
    structured interviews with employees from all relevant parts of the company and different hierarchical levels
  • In-depth interviews:
    with leadership executives to better understand the reasons for individual concerns
  • Transformation team:
    coaching of the managing director in setting up his or her change team; analysis of the status quo via the transformation team and development of goals and solutions
  • Communication:
    stakeholder analysis and development of a targeted, group-specific change story and corresponding output paths, sounding boards and change barometers
  • Design of the change process:
    detailed planning of measures, such as the development of new processes and interfaces, qualifications and further developments on a team, as well as individual level team-building measures
  • Reflection and evolution:
    verification of target achievements, lessons learned and a basis for further change processes

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