Hanover Stone Solutions has launched a new strategic planning consulting practice aimed at assisting senior insurance company executives in designing and implementing strategic planning processes.
The practice will guide insurance executives through a collaborative process to identify, evaluate and capitalise on their company’s key opportunities for growth and sustainability in a dynamic and competitive business environment.
Hanover Stone senior advisors Donna Galer and Joanne Stone Morrisey will lead the programme.
A typical strategy engagement is predicted to take six to eight weeks, including a one to two day strategy workshop.
The South Carolina-based advisory firm’s approach is specifically tailored to the unique needs of individual clients, which benefits insurers by providing them with strategic thinking through core aspects of their business and from having documented decisions about where the company is going and how it is going to get there.
Galer commented: “Today, small and large insurers need a well-designed strategic plan to stay relevant and focused on specific issues and initiatives that really matter to their company’s success.”
“A fundamental element of enterprise risk management involves identifying and addressing risks to strategy, and a key aspect of strategic planning is to understand critical risks and develop a strategy that takes them into consideration.”