The revised operating structure sees several new leaders in place on the executive committee to drive the change.
Kruger said the merger of Momentum and Metropolitan to create MMI, SA's third-largest insurer by market capitalisation, was now three-and-a-half years old, and the integration was largely "done and dusted".
MMI has now turned its focus to growth, which it hopes to achieve through better understanding and responding to clients' financial needs. "The differentiator will lie in the implementation, not in the concept. Most financial services organisations say they are going to put clients first, but it is around how well you implement it," said Kruger.
He expects this to take between three and five years to show results.
Metropolitan and Momentum's businesses were combined in a way determined by the products they sold. Health products and employee benefits products, for example, were grouped together.
"It worked in the merger phase but it is primarily a product mindset," said Kruger. "We need to structure ourselves around groups of clients which requires a huge cultural and philosophical change."
Under the new structure, MMI has four segment businesses, one products and solutions business, and several groupwide functions such as finance, human resources, risk management and balance sheet management. Chief Operating Officer Danie Botes is responsible for the implementation of the entire model.
The segment businesses include Momentum Retail, headed by Mark van der Watt, which is responsible for middle- to upper-income clients. Another segment business is Metropolitan Retail, focused on lower-income customers, with Khanyi Nzukuma as its chief executive.
He previously headed Momentum Consult and took over Metropolitan Retail from Phillip Matlakala, who retired last month.
The corporate and public sector have been grouped into the third segment, led by Herman Schoeman, previously the managing director of cell captive insurance company Guardrisk, which MMI bought from Alexander Forbes in March.
MMI's clients include parastatals and the Government Employees Medical Scheme, which looks after more than 600,000 families.
The fourth segment is the international business, headed by Blum Khan, which will be responsible for MMI's operations in the UK, India and 12 African countries, excluding SA.Khan previously ran Metropolitan Health, and gained international experience when he lived in Australia and Namibia.
The products and solutions business, headed by Etienne de Waal, will create products for all four segments in response to feedback from them, based on interaction with clients.
De Waal, an actuary, previously headed Momentum Employee Benefits.
MMI is building systems for client interaction, using social media and technology, as well as looking at ways to better analyse big data.
Kruger said the changes were not meant to result in job losses, but create "more a growth- and client-centric model than an efficiency model". MMI employs about 16,800 staff across all its operations.
Source: Business Day via I-Net Bridge
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