Business functions centralization

The tendency to centralize business functions in finance and insurance capital groups is connected to the striving to limit the costs of functioning of the whole group as well as the need to create a maximally flexible and common product offer. Business functions consolidation pertains most often to life and property insurance companies and financial companies, in particular banks.

 

Such consolidation is a mostly legal and organizational challenge involving:

  • providing the possibility of gathering and processing data from a variety of companies, while meeting Polish legal requirements
  • adjustment of the organization’s structure, functions and business processes
  • necessary unification of the data model on the whole group level

 

It is also a technological challenge based on inter alia appropriate designing and location of technical solutions common for the whole finance and insurance group. 

 

One of the first components subject to business functions centralization is the customer data base. A central customer base allows for the following benefits:

  • true image of the whole group portfolio 
  • full knowledge on customers (collected at all companies)
  • actual customer profitability analysis
  • customer lifetime value analysis
  • relevant customer segmentation
  • relevant customer attrition analysis
  • customer affinity analysis
  • relevant marketing goals definition
  • completing effective, also individualized ones, marketing actions
  • effective cross selling implementation

 

We know how to effectively and aptly implement business functions centralization projects in the Polish market reality, and how to obtain tangible effects from introducing a central customer data base in a finance and insurance capital group.