Relationship gives insurers clarity into new product initiatives
Hartford, CT – NEOS, a management consulting firm that helps insurers innovate business solutions, and Milliman, the leading actuarial firm, today announced a strategic relationship to help life insurers improve their product development and product deployment capabilities.
The relationship will combine NEOS’s experience with process and IT optimization with Milliman’s product design and assessment expertise. The joint offerings will enable insurers to develop new products with the assurance that implementation will meet time and budget requirements.
“Speed to market is a differentiator for insurance companies, but many are challenged to develop products and bring them to market in a timely manner due to various factors. This new relationship between NEOS and Milliman addresses many of these challenges with innovative product design and operational concepts,” says Ernst Renner, NEOS’s Managing Partner.
The collaboration between NEOS and Milliman will help insurers minimize risks associated with product design and launch while optimizing an organization’s ability to develop and maintain new products. “We believe that our two firms together offer pragmatic solutions to insurers’ product development obstacles. We assess the situation, identify pain points, and offer quick hit solutions to help make insurers far more effective at rolling out new products. This provides the competitive advantage that insurers seek,” said Kelly Rabin, Consulting Actuary at Milliman.
The new offerings are currently available for insurers. To learn more about the offerings and NEOS, visit www.neosllc.com. For information about Milliman, visit us.milliman.com/.
NEOS is a management consulting and technology services firm specializing in the global financial services and insurance industry with deep experience in holistic modernization, enterprise data, and business operations consulting. Clients range from large multi-line companies to more specialized providers. Services are focused around business process optimization, project value assurance and realization, data strategy, and product development strategies. Solutions encompass legacy systems modernization, closed block insurance product management, operational and IT risk, and business-technology strategy.
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Milliman is among the world’s largest providers of actuarial and related products and services. The firm has consulting practices in healthcare, property & casualty insurance, life insurance and financial services, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe.