Strategic Expense Management
Even when companies have top line growth that relieves pressure on expense/income ratios, it remains prudent to have in place a strong strategic expense management programme that continuously seeks to boost efficiency and profitability. To be effective, strategic expense management must be in harmony with business goals and not unduly constrain the company's ability to perform.
Meeting this challenge requires a clear understanding of company financial and operating infrastructure, looking beyond traditional opportunities for improvement in expense control and reduction such as premises and equipment, amortisation and impairment, and compensation.
FTI Consulting is a recognised leader in helping insurers take advantage of strategic alternatives for expense management, including:
- Greater utilisation of resources through improved processes and enabling technology
- Strategic outsourcing
- Distribution channel optimisation
- Elimination of redundancies
- Portfolio rationalisation
- Analytics-driven customer acquisition and retention optimisation