The Way Technology Strategy Boosted Revenue Yields

Challenge

In Luxembourg, a mid-sized insurance brokerage firm faced a formidable challenge: achieving substantial revenue growth within three years. Identifying an untapped market opportunity, the company made an acquisition that could unlock this growth potential. However, to realize their ambitions, they needed to efficiently manage and analyze diverse data from their various systems. Their solution lay in crafting a technology strategy that would empower their enterprise model.

Solution

PM House was called upon to guide the company’s technology strategy in the right direction. PM House’s experts began by assessing the firm’s existing technology infrastructure and operating methods. They sought opportunities to enhance alignment and integrate new technologies to modernize and expand their business capabilities. This included outlining the firm’s business components, identifying what set them apart, designing a future technology and operating framework, and creating an 18-month plan with projected returns on investment (ROI). The subsequent execution of this plan involved implementing impactful changes like automating processes, adopting cloud computing, and optimizing reporting while maintaining data accuracy.

Results

The company’s project plan projected that a €25 million investment in technology would catapult their revenue from €120 million to €300 million in just 18 months. This represented a significant ROI, signaling a substantial increase in market share, and, importantly, the project successfully achieved these outcomes.

The team at PM House played a crucial role in selecting, designing, and integrating technologies aimed at enhancing customer experiences, streamlining system integrations, automating processes, and fostering business growth. This transformative effort fundamentally reshaped the company’s approach to delivering IT services, enabling them to transition into a digitally-focused enterprise. Automation of routine tasks allowed employees to focus on more valuable work and previously deferred projects. Consolidated reports empowered executives with swift insights into revenue forecasts, guiding resource allocation based on conversion rates and ROI.

The firm now possesses technology aligned with its business objectives, streamlines processes for greater efficiency, and encourages innovation in new capabilities. Early results validate that the new IT model, business insights, and ROI forecasts are all on track to support continued growth.