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Since 1992, Collins Consulting has been helping companies solve problems, brainstorm new ideas, and make strategic decisions. Here are just a few examples of solutions that have helped our clients succeed.
Operational Reviews:
- Strategic Decision Making: Reviewed the operations of a public entity risk pool and assisted the board of directors in making long-range strategic decisions. This included the development of interactive workbooks that assisted the board in moving quickly through several complicated discussions. In addition, we investigated similar programs in other areas of the country using our contacts in the industry. This research gave the board some new ideas and a sense of what had been successful for other pools.
- Business Plan Development: Reviewed the operations of an insurance company and developed a business plan to assist them with making decisions regarding taking several of their outsourced functions in-house.
Project Management:
- Executive Management Team: Created the original structure and facilitated the continuing development of an executive management team of a healthcare insurance company over a four-year period. The team was created for the purpose of identifying and resolving cross-divisional business risks, increasing communication at an executive level, and creating corporate accountability. We developed an extensive system to track the 400 identified business risks using relational database software. The team became an integral part of the corporate structure and was highly successful in solving cross-divisional problems.
- Software Selection and Implementation: Coordinated the selection and implementation of a document management system designed to house corporate contracts for a Bermuda based reinsurance company. Acted as the corporate lead on the project and responsible for maintaining its corporate priority and moving the project towards completion in a timely manner. Conducted research on potential software packages and presented findings and recommendations to company decision-makers. Once a package had been selected, responsible for coordinating its customization, implementation and integration into the corporate environment. Responsible for end-user training and acted as the software administrator during the initial integration phase.
Procedure Development and Training: Conducted a thorough review of policies and procedures for a Medicare HMO product. This included both revising existing policies and writing new ones to conform to changing regulations and operating policies issued by CMS (formerly HCFA), the governmental agency that administers Medicare and Medicaid.
Financial Analysis and Modeling: Analyzed the fund surplus needs of a public entity risk pool. We evaluated their financial position, created extensive spreadsheet models that showed how specific changes would affect their fund surplus in the future, and presented strategic recommendations to the board of directors. Electronic copies of the models were provided to the client to assist them with future long-range planning.
Due Diligence:
- E-health: Conducted due diligence on a managed care e-health firm on behalf of multiple investors. This included performing standard due diligence activities on the target company, analyzing future projections for reasonableness, and determining a valuation for the target utilizing the method most commonly accepted at the time of valuation.
- Property & Casualty Insurance: Planned and performed due diligence on 19 separate insurance company acquisitions. This included interviews of key personnel to assist with restructuring decisions in an effort to improve overall financial performance.
Captive Feasibility Studies: Conducted a feasibility study on a homogeneous group of insureds in the non-traditional beauty industry. The detailed study included an analysis of the future market potential; a comparison to their competitors' programs; the creation of financial proformas; and a review of their loss history, loss control, marketing strategies, and underwriting criteria. The extensive report was used by the reinsurance broker to market the program to prospective reinsurers.
Internal Audit Services: Reviewed the operations and processes of the internal audit department of an insurance company and made recommendations for organizational and operational changes. This included interviewing staff across the organization, reviewing the department's policies and procedures, and reporting our findings to the president and Audit Committee.
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