It hasn't hit the headlines yet. But there're big changes happening at the Insurance Corporation of British Columbia. In September, the corporation's board of directors approved a "transformation program" to "renew its approach to doing business." The details of that program are still being worked out. But the broad strokes are included in a document quietly posted on the government's procurement Website last Friday. According to that document, the corporation is looking to "meet increasing expectations," "operate in an efficient and effective manner," "streamline processes," "upgrade legacy systems" and "ensure infrastructure is in place to support system reliability, customer service options, improved privacy, and reduced reliance on paper." So it's hiring a advisor to anticipate the risks that might be associated with those changes. The following is a complete copy of the relevant portion of that document.
ICBC's corporate vision is to be BC's preferred auto insurer, providing protection and peace of mind. Our strategy has three primary areas of focus: customer perception, employee experience and financial stability.
The business environment in which ICBC conducts itself has become increasingly competitive and continues to evolve as new entrants market their products and services. ICBC has recognized the need to renew its approach to doing business. The drivers of this renewal include the need to:
* meet increasing customer expectations regarding product offerings, pricing and service;
* operate in an efficient and effective manner to continue to keep rates low and stable;
* streamline processes to continue to serve customers as we deal with an aging workforce;
* upgrade legacy systems to ensure we can continue to provide quality service to our customers; and,
* ensure infrastructure is in place to support system reliability, customer service options, improved privacy, and reduced reliance on paper.
Most recently, ICBC has designed and set up a governance model, risk mitigation plan, change and transition strategy and plan, and communication strategy to support the suite of projects that are included in this business renewal program, collectively titled the Transformation Program (the Program).
3. Objectives and Scope of EOI
With the information obtained through this Expression of Interest, ICBC expects to identify a qualified, knowledgeable, and experienced external Risk Advisor who has the ability, expertise, and leadership skills to support the delivery of ICBC's Transformation Program. In particular, ICBC is interested in respondents who can demonstrate past success related to the following, through similar engagements within similar industries:
* Assessment and management of risks for large-scale, multi-stakeholder programs;
* Provision of risk advice to executives and board members of medium- to large-scale organizations;
* Provision of advice on risk treatment and mitigation to ensure successful program delivery.
The Risk Advisor will be an independent third party responsible for performing quarterly risk assessments of ICBC's Transformation Program. The Risk Advisor will report to the Executive Program Sponsor, and in addition to providing an objective assessment of Program risks, will provide advice related to treating and managing risks to enable the delivery of a successful Program. The Risk Advisor may also be asked to provide business insight as it relates to Program risks and their mitigating actions. However, accountability for the appropriate management of Program risks rests with the Executive Program Sponsor and ICBC.