Elixabete Larrea (Eli)

Partner, Boston

NA Insurance Practice

McKinsey & Company​

 

Eli is a Partner in McKinsey & Company’s Boston office. She leads the Firm’s Americas Claims Practice and is part of the leadership of McKinsey’s Global Insurance Practice. Eli helps leading life and property and casualty (P&C) insurance carriers to design next-generation operating models for a digital world. She brings order and discipline to the many digital initiatives that companies are pursuing, concentrating on the end-to-end customer journey as well as the supporting processes and breaking down organizational silos. She also focuses on building capabilities, especially for leadership teams, to sustain the operational transformation.

Eli is also deeply passionate about Women Leadership Advancement and is a regular speaker on industry forums on this topic. ​
She is also spokeswoman for McKinsey’s Women in the Workplace and Race in the Workplace research in the Insurance Industry.

 

Selected experience/expertise

Created “art of the possible” ideation methodology and led more than 30 sessions with life and P&C insurance leadership teams 
in the last couple of years in Canada, Europe, and the United States, including developing the vision for the strategy and operating model of the future (across value chain) and identifying transformational ideas to implement it

Led a multiyear transformational effort to deliver $500M+ in impact for a leading P&C carrier in the US focusing across growth and cost levers in their most important lines of business (both personal and commercial lines) and business support function optimization

Participated in the multi-year operational and strategic transformation of the claims organization for the personal lines business of a leading global P&C carrier

  • Re-imagined the future state vision for homeowners insurance claims
  • Led a digital and analytics transformation in a leading life insurance carrier in NA for one of the core customer journeys
  • Led procurement optimization effort in leading global insurer which included a new and modernized sourcing strategy 
  • Led a company-wide next-generation operating model transformation across digital, automation, and robotics for a P&C carrier

Education

Eli received her MBA from Harvard Business School. She also holds a BA and masters in Strategic Management from Deusto University (Spain) and a MS in International business and strategy from Reims Management School (France).

Eli currently lives in Cambridge, MA with her husband and two sons. She enjoys travelling, skiing and spending time with family