Insurance Sector Acquisition Integration

COMPANY

Leading multi-national insurance group

CHALLENGE

Following the acquisition of a rival insurance company, the company was faced with the issue of how to make the integration a success with a focus on translating the strategic priorities into a compelling vision, realizing the “people synergies,” process redesign, merging the human resources infrastructure and overall staff communication.

WHY ABEAM?

Outstanding reputation and experience resolving the types of Post Acquisition Integration issues this client faced.

SOLUTION

A robust plan that ensured the integration would be achieved within the defined timeframe. The integration included:

• A thorough scoping of all activities, estimated time required and suggested resource needs.
• An enhanced compensation strategy for the acquisition aligned to strategy and staffing levels.
• A performance management system aligned to the Group principles and framework.
• A gap analysis of the acquisition versus the Group policies and procedures (old versus new) and a schedule of developments.
• The steps required to incorporate the Group values within the organizational strategy and determine the new entity as an employer of choice.
• The steps to run the Group succession planning framework for selected levels in the acquisition.
• A review of the acquisition’s training provision and plans in the light of both the move to the Group and a shared services philosophy.

REAL BENEFITS

• The integration project was delivered on time, on budget, within scope.
• None of the identified “must hold, top talent” left the organization during the year post the integration.
• Staff surveys recorded higher levels of morale and resultant productivity amongst the workforce.
• Identified synergies were delivered.