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Growing Insurer Quickly Expands Talent Base While Getting HR Function Under Control

The Challenge

Facing tough competition, a premier provider of insurance products in California needed a new business model – as well new people to get the job done. In order to win significant market share with reduced pricing, the company would have to be nimble, and employ, develop, and retain talented (non traditional insurance) people who would deliver exceptional customer service while putting outdated, bureaucratic systems behind them.

Changes included plans for rapid growth in management, staff, and infrastructure, as well as changes to key outsourcing relationships for key functions like underwriting and claims administration.

In order to win significant market share with reduced pricing, the company would have to be nimble, and employ, develop, and retain talented (non traditional insurance) people who would deliver exceptional customer service. How could the company rapidly grow a talented team with its limited administrative and human resources infrastructure?

The Solution

SharedHR joined the team at the strategic level to design the organization, develop the sourcing and staffing plan in stages to recruit key management talent. Next, SharedHR rapidly implemented SharedHR Central, its Web-based HR management system, designed and acquired key employee benefits and established an attractive employment brand. With SharedHR’s Custom consulting advice and unique HR outsourcing approach, the company was able to rapidly grow to 525 employees with only 2 HR professionals – made possible by the seamless integration of SharedHR’s outsourcing team and technology with the company’s staff and infrastructure. This represented an HR group of only 25% of the industry average headcount while achieving the growth and high customer-service goals.

The Result

The company grew to the third largest carrier in the field within 3 years (as measured by revenue). The company’s revenue per headcount and profit per headcount were the envy of the industry. Within 5 years of inception, the company was acquired by Berkshire Hathaway’s insurance group.