Insurance
Instilling operational excellence
throughout the insurance enterprise
Economic conditions deteriorated throughout 2008, affecting both property/casualty and life insurance companies. The impact early in the financial crisis was for the most part limited to poor investment performance, as returns on portfolios of high grade corporate bonds plummeted, and yields on US treasuries dropped sharply.
As the crisis progressed, hopes that decreases in policyholder surplus would produce a firmer market, even in the face of an overall deflationary trend, gave way to the realization that customers were acting to engineer premiums to levels they felt they could afford and driving demand in the same direction as capacity (i.e., supply).
The future of the insurance industry is being shaped today, by the opportunities and threats arising from the current crisis. The next generation of industry leaders will be forged in its crucible. Companies that manage their costs effectively and invest wisely will flourish. Those that tolerate uncompetitive cost structures, succumb to short-term decision making, or fail to invest for the future will fade, be acquired, or cease to exist entirely.
Our mission at Bridge is to see to it that our clients prosper under whatever economic conditions exist and outperform their competitors and the industry as a whole. Our insurance practice is focused in three areas:
- Cost Management — Managing costs to the lowest level consistent with service and quality objectives
- Distribution Channel Optimization — Determining the right mix of distribution channels and managing the conflicts among them
- Operational Risk Management — Identifying, quantifying, and determning how best to manage operational risks
