We help Australian life insurers deliver on their promise to customers through strategy development, operational excellence and service in claims and use of technology and digital channels.

It can be easy to forget that life insurance is an important financial solution, providing financial protection to people when they truly need it most. Life insurers understand they have an important role to play in society in fulfilling the claims promise they make to customers.

The Australian life insurance market, along with the broader wealth and advice market, has gone through significant change with more to come. Changing customer expectations, regulatory and economic changes and emerging technology and innovation have all added to this dynamic market. Life insurers always need to stay one step ahead to provide a great service and continue sustainable profit for their shareholders.

Our experienced life insurance consultants work with Australia’s leading life insurers across: direct, retail, group and reinsurers. We help address issues on topics ranging from strategy, organisational change, operations, technology, digital, marketing, distribution, lapses, claims and risk management.

The needs of our life insurance clients are some of the most varied across clients. We have provided advisory and design services as well as getting hands on and implementing change through project management, technology delivery and change management.

We keep up-to-date with the evolving market trends and industry topics to ensure our consultants aren’t just training on the job. Our pragmatic approach is due to our hands on experience and by actively listening to the needs of our clients.

Whether its analysing lapse rates or claims experience, looking at new ways to improve distribution through direct and intermediated channels or providing more digital services to customers, we are ready to help you.

Examples of our work

Recent life insurance engagements include:

  • Worked with a leading Sydney based life insurer on its 5 year strategic goals and plan
  • Provided market research and made recommendations on claims technology to a top 3 national life insurer
  • Provided implementation support to a Group Life insurer as part of the onboarding of a new Industry fund client
  • Conducted quality assurance and testing for a new life insurer
  • Performed analysis on operational activity of insurance application fulfilment to improve the customer experience and reduce the time and steps involved for an application to be fulfilled and policy to become active
  • Supported a leading insurer in the integration of a recently acquired business
  • Designed and help establish a project management capability for a national life insurer to help them deliver multiple projects and programmes successfully
  • Project managed a cost reduction exercise for a top 3 life insurer resulting in over 10% reduction in operating expenses without impacting revenue growth
  • Developed a target operating model for a leading life insurer that brought siloed, product specific business units closer together and more customer-centric
Our life insurance services

We believe our Australian life insurance experience makes us standout from other consulting firms. We can help you in any area of your life insurance business:

  • Facilitate strategy development discussions and planning
  • Develop strategy implementation plans and roadmaps
  • Conduct market research to support strategy assumptions and formulation
  • Life insurance operating model reviews and redesign
  • Design and establish large programmes of work
  • Review and uplift claims management capability
  • Review and uplift distribution capability, especially with financial advisers
  • Support implementation of projects
  • Provide a variety of technology strategy and implementation services

Talk to us today about how we can help you.

What to read next

Related industries

  • Financial advice
  • Retail wealth management
  • Health insurance
  • General insurance

Related services

We also recommend reading life insurance market research and news from Strategic Insight, DEXX&R, Rice Warner, riskinfo and APRA life insurance statistics.

Contact us
1300 CYGNIS
info@cygnis.com
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  • Claims management
  • Underwriting
  • Application fulfilment
  • New business processes
  • Distribution channel management
  • Product and pricing