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Peter Hawkins

Author: Peter Hawkins

Director and Strategic Programmes Consultant

In December 2013 Innovation teams based in the UK and HK successfully completed the delivery of a major complex business change programme - The domestication of the Prudential’s Hong Kong branch

This was a programme that revolved around the valuation of the assets attributable to the HK and UK policyholders. As you might imagine, this was a very complex project that involved gaining the agreement of regulators and lawyers in both the UK & HK. In fact, Prudential had attempted this project on a number of occasions over the years but we managed to get it over the line this time.

A key part of this success was the early appointment of an Innovation Programme Delivery Architect to analyse and understand the details of the previous attempts at delivery and why they were not successful. Working closely with the Prudential’s management team we were able to design and define a new approach and organisational framework, which identified the multi-level risks involved and ensure the ultimate successful delivery of all business requirements.

During the programme we had to undertake a number of difficult tasks including:

  • Apportioning the inherited estate
  • Managing large asset transfers in two territories
  • Managing three Regulators, with competing priorities
  • Managing a complex Section 24 transfer process in HK
  • Managing a complex Section 25D transfer process in HK
  • Managing two Section 8 Company authorisations in Hong Kong in order to transition from a composite model to new Life and GI Companies
  • Delivering change to 56 IT systems
  • Managing a multi-million Policyholder mailing across two territories

This is recognised as a major achievement throughout the insurance sector. It demonstrated our ability to manage, successfully, complex projects across geographies, particularly the UK to Hong Kong. This is a practical demonstration of what we can do to support major programmes and projects as part of our Bridge to Asia delivery approach.

With specialist Innovation delivery teams in both locations, we are able to provide a unified culture across ‘our delivery bridge’.