CASE STUDY: DIGITAL TRANSFORMATION
Our client is one of Canada’s largest financial institutions and insurance companies, with over $50 billion in assets under management.
Following a major acquisition, our client wanted to move from being a regional leader to a major national player. This transformation had to be accomplished while keeping operational costs low and positioning customer service at the forefront through digital channels. Prior to Levio’s intervention, the client was having difficulty implementing and consolidating its digital transformation initiatives.
Levio had to modernize the company’s existing IT systems using modern digital technologies, thereby ensuring the continuity of current business operations. By approaching the problem from the employees’ and customers’ perspectives, Levio was able to re-engineer business processes to ensure mass adoption and user satisfaction.
Levio leveraged new digital capabilities to increase efficiency across all business units. The objectives were clear: increase cross-selling of products, reduce churn, optimize rates, reduce the number of claims, and increase overall operational efficiency while diminishing/eliminating sources of customer issues.
- Development and piloting of the program and governance structure to manage the $450 million, 10-year program portfolio
- Replacement of the existing register systems with a next-generation COTS solution from EIS group
- Implementation of multiple solutions to address all stages of the transformation such as omni-channel services, business intelligence and analytics, cloud migration, etc.
- Used an approach that brought business and IT stakeholders together, fostered true collaboration and delivered quick wins early in the project.
Levio offered the following services:
- Strategic leadership, organizational and digital transformation
- Customer and partner management
- Roadmap, project scoping (objectives), design, architecture, requirements
- Project and program planning, full lifecycle management
- Agile Development
- DevOps, QA, implementation, deployment
- Support and maintenance
- Change management and training
- Agile execution combined with seamless change management and a sophisticated migration strategy that resulted in hitting 80+ successive milestones in a $250M+ program without disrupting business operations.
- On a few occasions, some projects managed by other companies were on the verge of failure. Levio was then asked jump in and perform project recoveries. Levio successfully and efficiently carried out these initiatives.
- Levio delivered a new pricing solution for $4 billion worth of business. As a result, Levio was able to replace Excel as the primary pricing solution for actuaries, allowing actuaries to push new pricing straight to production.
- Implementation of various systems and solutions: invoicing, document creation, compensation, CRM pricing solution, and policy management.
- Successful conversion of 80,000 commercial policies.
- Successful re-engineering of the desktop environment for 500 branches across Canada, including networking, telephone routing, and security.
- The project was completed on-time, on-budget and within scope.
- Levio’s program delivery approach was adopted by the client for future large programs, validating its efficacy.
- Our approach and leadership fostered a culture of collaboration that broke down internal silos – this remains true today even after the project’s completion.