Challenges
The Transformation and Strategy department of a major life insurance company needed to :
– onboard the whole company in the effort of transformation,
– enrich the strategic vision and innovation roadmap,
– discover new business model opportunities.
– discover solutions to improve its operational efficiency and customer experience,
Methodology
To answer these challenges, we co-designed with their team a learning expedition during 4 days in Singapore in March 2018, for 12 leaders in the company, including 4 members of the Executive Committee.
We met 20 startups in Fintech / Insurtech, had 5 sharing sessions with the innovation labs of other banks or insurance players, and visited 4 accelerators. We also facilitated debriefing sessions every day and a 2 hours workshop on the last day.
Outcomes
– 42 ideas generated/person (502 ideas in total) during 4 debriefings and 1 ideation workshop on topics such as culture, methodologies, operational efficiency and customer experience
– Partnerships engaged at highest level with key startups in SG.
– Awareness on critical digital capability (UX, use of data, AI, blockchain…) and new ways of working (lean, POC…)
– Presentation of key learnings and actions to the Executive Committee to get their support.