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Services

Business advisory and consulting services

Strategy only matters if it delivers. We collaborate with insurers and asset managers to turn intent into outcomes, bringing together delivery, operations, technology, data and AI with ownership that drives real results.

OVERVIEW

Turning business strategy into measurable outcomes.

We help insurers and asset managers translate ambition into delivery – improving business performance through target operating model design and business transformation. From product launches to M&A transactions, post-merger integration to operational improvement, we combine deep industry expertise, advanced analytics and hands-on execution to deliver lasting impact at pace.

Our engagements are designed to embed capability within your organisation – strengthening teams, ways of working and outcomes to help reduce the need for on-going external support.

Our expertise

Benefits of working with Milliman

Insurance and asset management expertise with a fresh perspective


We combine the long-standing established industry expertise with a modern, pragmatic, approach. In a complex environment shaped by regulation, market volatility and cost pressure, changes are inevitable. Our team will integrate quickly with your team to provide you with an additional layer of capability and experience that allows us to adapt quickly and deliver practical, informed recommendations tailored for you.

Outcome-driven, time-bound engagement


We agree on clear objectives, defined milestones and transparent timelines up front. We avoid open-ended consulting cycles and focus on tangible results, delivered at pace and within your scope, so results land quickly.

Tailored solutions for your business


We don't parachute in with prescribed solutions. We believe every business and every challenge is different. We bring market experience, toolkits, methodologies and example deliverables to accelerate engagement, and we work with your internal experts to tailor them to address your unique challenges.

We build capability, not consultancy dependency


We leave your team stronger than we found it. We improve processes, implement practical solutions and equip your teams with the tools, frameworks and knowledge to sustain progress long after the engagement ends.

Our goal is for you to confidently own the improvement—and keep building on it without us.

How we can help

Business operations improvement

We design and deliver scalable operating models aligned to growth strategies, regulatory expectations and customer needs.

Target operating model (TOM) design and implementation

Target operating model (TOM) design and implementation

Define and embed operating models that align strategy, structure, processes, governance and capabilities to enable scalable and efficient execution.

How we can help

Data and AI strategy

We enable organisations to turn data and artificial intelligence (AI) into practical, governed capabilities that deliver measurable outcomes.

AI use‑case identification, prioritisation and value tracking

Identify and assess high‑impact AI use cases, prioritise them based on feasibility and value, and establish mechanisms to track benefits and business impact.

Data strategy and data operating model

Define company-wide data strategies and operating models that clarify ownership, decision rights, architecture, and ways of working to enable data efficiency at scale.

Data analysis, insight generation and visualisation

Deliver advanced analytics and insights through rigorous analysis and clear visualisation, enabling leaders to make faster, better‑informed decisions.

Data governance, quality management and controls

Design and embed data governance frameworks, quality standards, and controls for trusted, compliant and resilient data across the organisation.

How we can help

Change and transformation

We enable organisations to deliver complex change programmes from mobilisation through delivery, stabilisation and benefits realisation.

Change effectiveness

Change effectiveness

Support portfolio prioritisation to focus investment on what matters most, supported by clear change organisation structures that enable strong governance, accountability, and effective delivery.

How we can help

Technology strategy and architecture

We define and deliver technology strategies that help businesses scale, optimise resilience and future-proof their technology architecture.

Application and architecture strategy

Define application and technology architectures that align with business strategy, simplify complexity and support scalability.

Platform and vendor strategy (including third‑party risk)

Source platforms and vendors and model third‑party risks to future-proof operations.

Technology simplification and rationalisation

Reduce technology complexity and cost through rationalisation, and modernise and streamline legacy technology and consolidate where necessary.

CIO advisory and technology operating model

Advise CIOs and technology leaders on operating models, governance and capability design to improve decision-making, performance and strategic impact.

CLIENT CASE STUDY

See how our team has helped clients to deliver results

Outsourcing and operating model transformation for a major UK life insurer

Outsourcing and operating model transformation for a major UK life insurer

Led the outsourcing and lift-out of middle- and back-office services, redesigning the future-state operating model and governing the transition to reduce risk, cost and complexity.

Challenge

Our client aimed to outsource middle-office and fund services to a new supplier, with a priority on maintaining operational continuity throughout the transition. The target operating model (TOM) also needed to be redesigned post lift-out.

Approach

We led supplier mobilisation and programme governance, aligning lift-out delivery to the heads of terms. We defined the future-state TOM and transition roadmap and managed the programme end to end from inception through delivery.

Outcome

Lift-out completed within seven months. We reduced operational risk during migration, introduced clearer governance under the new supplier model and lowered the client’s ongoing operating costs.

We’re here to help

Ask the tough questions. We’re ready for them.