An insurer took a decision to fundamentally question its relationships with its customers, brokers and competitors. It was prepared to change everything. It created a working party of directors who were to make a recommendation to the board on how to transform the company.
We were asked to help the working group by:
- challenging them to be creative
- making sure they imposed no constraints on their thinking
- ensuring they looked at the business from the outside in
- guiding them to develop a business model that put customers first
Our role was to create a set of rules and goals for the team and then keep them on course through a series of facilitated workshops. The process that we facilitated had these key stages:
- agree the goals and rules
- identify the business ecosystem
- research the ecosystem
- evaluate the goals and journeys for each member of the ecosystem
- define target roles, expectations and journeys for each member of the ecosystem
- define the required responses from the business
- define the capabilities required to deliver the responses
- agree the business design principles
- define the business model
- define the operating model
The key outputs of the process were:
- a redefined range of product types to better meet customer needs
- a new design for the customer service organisation and processes to be more responsive and provide a more complete set of services
- a new model for relationships with other insurers to allow more partnerships
- a plan to centralise many brand functions into shared services to improve efficiency and reduce back office handoffs
The board accepted the recommendations of the working group and kicked off a set of business transformations to implement the new direction over three year period.
