Planning and development of the business plan, budget, and incentive model for an insurance company in Peru
This project transformed planning into a strategic and collaborative exercise, ensuring aligned and efficient execution for the coming year.
Challenge
A leading insurance company in Peru, part of the market's top 3, was undergoing a transition towards a more autonomous corporate model within its holding. This new scenario required improved efficiency in planning, addressing challenges such as:
- Misalignment with the ambitious corporate strategy.
- Failure to meet increasingly strict deadlines.
- Lack of coordination between Business and Support areas, leading to disconnection and rework.
Solution
We developed the “2024 Planning” project to transform the planning, budgeting, and incentive model process. Our approach included:
- Methodological design and tools: We defined a clear methodology and practical tools to facilitate planning and execution, accompanied by leadership team training and a detailed playbook.
- Strategic challenge: We supported the design of business plans by questioning key challenges and actions to ensure they were ambitious and aligned with strategic objectives.
- Comprehensive alignment: We ensured coherence between business plans, the budget, and corporate strategy, promoting a unified vision across departments.
- Incentive model: We identified and aligned key indicators for the C-Level, integrating the corporate model with business plans.
Benefits to the Organization
The project’s implementation achieved tangible benefits for the organization:
- Centralized leadership: The Finance area took over process coordination, providing a cross-sectional view that aligned all plans and budgets.
- Elimination of silos: We fostered feedback dynamics and collaboration between areas, breaking down barriers and improving plan coherence.
- Deadline compliance: The process was moved up in the annual calendar, allowing teams more time and quality in planning.