Successfully Transforming a Software Development Company in the Insurance Sector

The Client 

Market leader in its field

Our client is a software development company in the insurance sector. It employs almost 1,000 people at six locations in Germany, with 750 working on the company's own premises and 250 as external employees. The company achieves a turnover of approx. 150 million EUR.

The software development company's core product, a specialized application for insurance companies based on an SAP application, has earned it a market share of 55%, making it the market leader in its health insurance segment.

The Challenge 

Major projects in distress, negative annual results, unclear reporting

After a number of major projects had ended in failure, the development of important products in the front-end area had dragged on, and the negative annual results in the past and in the planning for the current year could not be postponed any longer, a interim manager was requested to reorganize the entire unresolved situation in the company.

The Solution

Challenging prerequisites

The management consultant involved had highly recommended the assignment of an experienced interim executive.

The interim manager took on the task under difficult conditions: The relationship of mutual trust between the company and the shareholders had been severely damaged due to a lack of transparency and insufficient quality in shareholder reporting.

The interim manager was brought into the company as an interim chief transformation officer with the aim of accelerating the implementation of the strategic realignment of the software company in his role as a member of the management board and on commission from the shareholders.

Two important milestones:

1. Setting up a temporary internal consolidation program:
   1. Monitoring the entire transformation process
   2. Establishing clear planning, management and controlling structures in all organizational units of the company
      => Optimizing costs and revenues
2. Operationalizing the strategic realignment:
   1. Creation of detailed implementation blueprints for the realigned strategy
      => New product strategy
   2. “3-layer model – bottom-up” – this meant that on a highly productive basis, the option of differentiation in the product range was created by using a digital linking framework

The Results 

Successful transformation and ensuring long-term economic profitability

The interim CTO succeeded in meeting the high demands of the shareholders while maintaining the company's reputation as a market leader.

Key results:

• Establishment of business transparency by implementing 39 measures to optimize financial controlling
• Restoration of economic profitability through measures to improve earnings in the amount of 16 MEUR (11%)
• Successful implementation of the new product strategy
• Mandatory planning of the separation of operating units of front-end development
• Recovery of customer and shareholder trust

The Client Voice

Excellent reference

“The interim manager has implemented a complex transformation and consolidation program, delivering rapid successes. He has laid the foundations for continued positive development. Our fruitful collaboration has been characterized by a high level of professional expertise, dedication and the ability to maintain a sense of critical distance. Through it all, he has held up the necessary reflective mirror.”

Contact Us

Are you experiencing similar challenges in your company?

If your organization is facing a pressing situation or seeking to improve efficiency, Boydens team of experienced interim managers can help. With a proven track record of delivering sustainable results across a range of industries, we are ready to enhance your business operations and boost profitability.