Insurance

The insurance industry has remained much the same for decades and, due to a risk-averse culture, has always been particularly resistant to any change beyond complying with new regulations. Before the advent of new technologies, it wasn’t a competitive market where new players could easily enter and was also not seen as an exciting career prospect that would attract the new talent it needs. By giving companies access to Business Transformation specialists with niche industry skills, we helped our Insurance clients deliver change more effectively. By expanding our services to include Statement of Work and end-to-end solutions, we have also made significant savings for our clients and reduced their reliance on expensive consultancies.

The Insurance sector is entering a period of disruption and modernisation, driven by consumer desire for innovative and digital product and service offerings. InsureTech start-ups are moving in on the territory of Insurance giants, who are themselves beginning to change their service models, much in the same way the Banking sector has been transformed by FinTech. These challengers are creating a choice in the market, so existing companies have to innovate to stay relevant. This, in turn, is creating an increased demand for new skillsets such as Digital, Mobile and Robot Process Automation (RPA).

It's an exciting time to be involved in the Insurance market and a real opportunity to have an influence on the space and attract a new type of person to it. We are constantly expanding our network to include the top candidates with the latest in-demand skillsets, be that Agile, Digital or Robotics. We have also widened our offering to include Statement of Work solutions so we can offer all the benefits of a leading consultancy at a fraction of the price.

Key features:

• Flexible pricing options to suit your needs: our standard rate card provides a clear and transparent pricing structure

• Access to our global community of contractors with cutting edge expertise

• On average, our contractors are onboarded in just nine days and extended seven times, with the average tenure being 22 months

• All contractors are pre-screened and vetted as requested

• An experienced account team for the project duration and a dedicated account manager to provide a single point of contact

Why you’ll love it:

• Ability to rapidly ramp up and scale down resources as required

• Cost-efficient way to run projects without compromising on quality

• Full support to resource your projects across multiple verticals and geographic locations

• Minimal overall impact to your hiring manager community and current resources

• We can onboard the best talent quickly, speeding up your delivery and return on investment

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Key features:

• Choose from several tailored packages to suit your needs

• On-site dedicated service, and an overall programme management team, to ensure the best quality of service

• Engaged global talent pool across multiple verticals and geographic locations

• Candidates are fully vetted, and background checked

Why you’ll love it:

• Hassle free, we take away the pain

• One point of contact for your talent needs – save time briefing multiple agencies

• Reduced overall agency spend

• One easy system for timesheets and project schedule approval

• A fully compliant solution

Key features:

• More cost-effective end-to-end solutions, compared to bigger consultancies, because we have direct access to the talent

• Our pool of trusted advisors, Delivery Assurance Directors (DADs), ensure every part of your project is optimised to ensure success

• Dedicated project delivery team

• On-going administration and compliance management

• Regular progress review meetings

• Project off-boarding and IP transfer

Why you’ll love it:

• Direct access to the best talent in the market, built up over 20 years

• Average savings of 36% against leading consultancies

• A completely personalised solution for your unique needs

• A scalable solution that's swift to implement, so you can ramp up and down quickly

• Guaranteed knowledge transfers to you can maintain BAU

• On-site dedicated service and programme management led by industry-leading specialists (DADs)

​Key features:

• You have one specialist point of contact at Hydrogen

• Using innovative, customised search methods, we source and secure the market’s best talent

• Searches conducted by a consultant and dedicated research team, to ensure a thorough search and all relevant candidates in the market are spoken to

• Weekly updates on your search

• Option to conduct market mapping and report on your brand perception in the market

• Staggered pricing solutions, in line with different hiring phases

Why you’ll love it:

• You gain preferred access to the best pools of active and passive candidates in your market

• Working exclusively with us, we will control your message in the market and promote your brand successfully

• We’ll work to tighter deadlines due to the increased resources that can be committed to the search

• Ability to spread the cost across a number of weeks or months

By taking the time to understand your unique company culture, ambitions and needs we can ensure that we can find the best talent for your business. We use innovative, customised search methods and off-grid insights, to build engaged candidate pools, establishing long-term relationships. Our approach to recruitment also helps protect and enhance your brand, as we go to market as your ambassador, promoting you as the employer of choice.

Key features:

• Full brief to understand your requirements

• Using our market leading CRM and search tools across multiple platforms, we tailor our packages to suit our clients and reach talent that other agencies cannot

• Experienced delivery teams and a dedicated account manager to provide a single point of contact

• Regular review meetings ensuring two-way communication

Why you’ll love it:

• We take a consulting approach to ensure we are attracting the right talent and you are not missing out to competitors

• Access to best-in-class talent – not just those who are actively looking

• One point of contact for your talent needs – no need to use different agencies for different levels or roles

• We’ll share our unique insights and market trends to shape your talent strategy

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Key features:

• We can migrate an existing direct workforce to our payroll solution in just 28 days

• Comprehensive background and education checks as standard on all incoming contractors

• Contractors receive seamless on-boarding and enjoy the financial security that comes from contracting through a PLC

• Easy-to-use online systems for screening, timesheets and contract management

• Supportive of IR35 status for contractors

Why you’ll love it:

• Mitigated risk - contractors are insured under Hydrogen’s group policy

• We ensure contractors are compliant with any regulatory changes relating to contingent workforces

• Reduced onboarding time: your contractors receive a more positive, consistent experience

• You receive just one monthly, consolidated invoice for your entire directly hired contractor workforce

• We’ll advise on potential cost savings you can make on your contractor workforce

The challenge:

Following an acquisition, our client, a UK Retail & Commercial Bank, needed to build a new in-house data warehouse for management information and reporting across the whole organisation. Due to dissatisfaction with the service from their existing technology provider and a need to cut spending, they required a partner who could reduce costs and deliver the specialist expertise to implement this.

Our solution:

To provide a team of expert consultants capable of delivering a fully functioning data warehouse. Data sources were to be staged in Teradata with IBM Information Services toolset used to Extract, Transform & Load for the new data warehouse.

We delivered a team of 32 locally based data warehouse specialists, including:

• 1 Technical Delivery Lead,

• 1 Lead Data Architect,

• 4 Project/Release Managers,

• 14 ETL Developers,

• 8 Data Modellers/Data Analysts

• and 4 Test Analysts.

A robust data governance framework was put in place. Due to the project’s success, a second phase was established to develop the capabilities of the data warehouse and train staff to maintain and develop it.

The outcome:

• The internal team were on site within just four weeks of receiving the RFP

• The initial project was completed in 12 months, within budget

• Delivered a legacy without dependency by embedding the newly developed processes into the business

• The client saved 48% compared to the solution with their existing consultancy

• After successful delivery, Hydrogen was retained to provide a second phase

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The challenge:

Our client, a British Retail & Commercial Bank, which was going through a divestment programme and had to transform 25% of the branch network – former building society locations. As well as a major IT system change, this required training and communication to over 1,000 colleagues – designed and built in just three months with rollout in a further three months.

Our solution:

We deployed a team led by a Programme Manager, as well as five Workstream Leads, 10 Business Analysts and SMEs and three Project Management Specialists.

As part of the roll-out, branch staff needed to undertake a complex set of branch close-down and re-open procedures which they had never undertaken before. In order to achieve the timescales, 97% of this needed to be done remotely with only phone support.

Our team developed a 65-page user-centric guide to take the branch colleagues through the steps they would need to carry out, with common troubleshooting pitfalls and what to do in the event of issues. Every lesson learned was iteratively applied to the document so that issues raised were reduced to almost zero by the fifth week of the 12-week rollout.

The outcome:

• The executive team were absolutely delighted with the quality, speed, and manner of delivery

• Collective previous experience was aggregated to allow enhancement to implementation processes leading to exemplar outcomes

• Over 1,000 staff were trained on the new systems and process, plus over 400 accredited to sell current account and consumer lending products

• The overall project was delivered in six months, three months of scoping and design followed by branch rollout in just three months

• Delivered a legacy without dependency by embedding the newly developed processes into the divesting business

• The project delivered for £5.8 against an original forecast of £6m – that’s on time and under budget

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The challenge:

Our client, a global insurance broker, had a number of Regulatory challenges including 11 Risk Mitigation Programme (RMP) actions, a Section 166 review, an enforcement and additional commitments to the FCA. To mitigate and resolve these actions, they appointed Hydrogen to provide an independent view on progress, with a focus on early intervention/remedial action.

Our solution:

We aimed to deliver Regulatory Change to the business, removing the enforcement and leaving a framework for the future. We supplied a fixed price team to review over 5,000 high net worth, high individuals, many from high risk jurisdictions.

The team was led by a Programme Director and included:

• 3 Project Managers,

• 3 Business Analysts and

• 1 PMO Manager

A Robust Programme Governance Framework was agreed by, and reporting up to, the Board, assuming the delivery liability at a fraction of the Big 4’s cost. We mobilised a team of eight, and fully scoped the project and delivered change to the business within just two months.

The outcome:

• ABC Skilled Person (S166) Review successfully delivered

• FCA enforcement findings were addressed, all enforcement actions stopped

• The work was signed off by the FCA

• The project was completed in 15 months, to budget

• Delivered a legacy without dependency to manage Regulatory issues and initiatives going forward

• The project cost £1.5m to deliver, saving 41% versus the next competitive quote, and preventing a £150m fine

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