Prateek Saxena

Director – Insurance Advisory: Customer and Operations

KPMG in the U.S.

Prateek is a Director in KPMG’s Financial Services Management Consulting Advisory practice. He focuses on Strategy & Transformation for insurance clients. He worked with several Fortune-500 financial services companies for Strategic Planning, Market Research, Target Operating Model, Operational Effectiveness, Cost Optimization, Customer Centricity, Organizational Design, Shared Services, and Technology Initiatives. His content knowledge, relationship building, and presentation skills help to provide value added solutions to the clients.

Professional and Industry Experience

Prateek’s experience is in leading large scale program for operational transformational efforts. The core of his professional credentials includes multiple examples of strategic IT initiatives through structured analysis and technology enablement.

IT Strategy and Implementation

  • Assessed and developed a business-aligned IT Strategy for a major acquisition by a Fortune 50 insurance company. Prepared implementation roadmap to present it to the Executive Planning Board
  • Led the policy administration transformation business case development and implementation plan for a life and annuity insurance company
  • For a high net worth client based Life Insurance Company, analyzed and documented the requirements to support strategic initiative of higher agent retention by enabling the various types of commissions options, rate structure, payment frequency and ease of use of IT systems. Proposed preferred solution and led the implementation of CSC’s commissions product- PerformancePlus. Managed the global team and coordinated with product vendor team for successful implementation.
  • Analyzed and proposed the interface strategy for CSC’ admin system – wmA implementation by defining the implementation patterns based on changes required or availability of opportunities. He led the effort to come up with optimal recommendations for many upstream and downstream systems

Operational Improvements

  • Led the Operating model strategy and design for a Fortune 50 client for Embedded Value reporting environment
  • Developed strawman operating model based on industry research and leading practices
  • Conducted several C-suite (60+ participants) workshops across regions (Americas US, LATAM, EMEA, and ASIA). Developed global / regional / local specific organization plans and socialized across the regions
  • Led the shared services strategy and its implementation for setting up COEs for Embedded Value
  • Developed business case for a strategic Lean initiative for a Fortune-50 insurance client’s EMEA (Germany) operations. This initiative resulted in 45% reduction in rework, freed up 25% of operational capacity, and generated 40 additional cost savings initiatives.
  • Assessed the current state environment, defined the future state operating model and developed the roadmap for a leading Insurance company’s short term disability organization to reduce cost, improve claims accuracy and Customer Experience.

Areas of expertise

Cost and capital optimization Finance operations and governance Financial Management Operating Effectiveness Strategy

Education and qualifications

  • Certified in PMI Project Management Professional (PMP)

  • Certified in Associate Annuity Products and Administration (AAPA), LOMA

  • MBA, Columbia Business School ( Major in Strategy)

  • M.S., Indian Institute of Technology, Kharagpur,India

  • B.S., MMM Engineering College, India

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