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Great Outcomes

Case Studies

Great Outcomes

Innovation Strategy Case Study: Insurance Industry

Overview

The Executive Council of a large international insurance organisation approached Maximus to work with their leadership team to develop credible and highly innovative ideas capable of creating significant revenue growth in their business.

Client objectives

To increase innovation, strategic planning, and the quality of opportunity assessment in the business, and to explore commercially robust strategies that produce a clear Return on Investment.

The Maximus Solution

This solution was centered around the organisational opportunity landscape and focused on “business unusual”.

The first part involved the facilitation of a three-hour session with the Executive Council, to ensure Maximus had a complete understanding of the current versus desired approach to supporting and driving innovation within their leadership team. Maximus also needed to understand the risk profile associated with this need.

Maximus then conducted a needs analysis with both the leadership team and senior members from the Human Resources Department.

A three-day program on innovative strategy was then customised and delivered onsite.


Outcomes to Date

  • From the 20 leaders who attended the Maximus event on innovative strategy, 16 revenue-generating ideas were created.
  • Ten of these ideas were presented back to the Executive Council who requested that seven of the initiatives be developed into business cases.
  • The year-on-year revenue generating potential of these initiatives is estimated at $12.7 million, and several of these projects are presently underway.