Tunir Chatterjee

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Tunir Chatterjee is a vice president for global delivery at GEP, and lead of the firm’s financial service consulting practice. Tunir leads the strategy and transformation engagements across industries at Fortune 100 corporations.

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Procurement’s key metric is vendors’ value contribution, not cost.
Aug 22, 2020    0

At U.S. insurance companies, policyholders’ claims represent 70% to 75% of the total cost. This makes complete sense, of course, since policyholder benefits are the sole reason why anyone buys insurance products and services.

The problem is, at insurance companies, procurement is limited to supporting indirect spend — real estate, marketing, finance, etc. — which accounts for less than 10% of the organization’s total costs and severely limits our ability to...