With Amazon, Google, Tencent (WeChat) etc. as major distribution channels, the future of the traditional personal insurer is uncertain – add to this that one of the major product lines most probably will become obsolete during the next decade and you have all ingredients to promise the incumbents a bumpy ride going forward. This white paper discusses what incumbent insurers can do
What we’re in essence looking at is a fantastic product with a proven international track record being introduced too late into a market that never really was prepared for it before it was rendered outdated. Seriously interesting times ahead of us…
Literally hundreds from my network and from all over the world have asked me "how the war room looks" so I made a picture showing the structure and brief explanations describing the contents and purpose of the room
Your colleagues are customers too, so these are the very people that disrupts your markets and driving profound changes in the way you need to create your future products and services. But internal disruption is not high on the management agenda
It’s no news that there are tensions between a company’s business development / digital innovation and the day-to-day business operations. On one side, you have a team of enthusiasts focusing on the Big Next and on creating the digital future of the company – and on the other side, you have the operations focusing on delivering on financial targets and complying with regulations while providing excellent customer service daily
This Thursday October 26th, 2017, another line of duties was added to my responsibilities so I'm now also holding the position as Executive Vice President, MENA Motor Claims for personal and corporate lines for the QIC Group,which I'm very happy with and proud of. I believe it makes perfect sense to combine the business development of the commercial side with the claims side of the business
One of the most interesting topics is the discussion about top-down or bottom-up processes, i.e. should the Board set the targets and let the units plan how to meet them or should the units report in what they think is possible to reach?
The insurance industry is moving at three speeds today. Insurtechs are moving at hyper-speed, innovative incumbents at medium speed and the rest of the industry at very slow speeds. At the same time, the insurance markets, grounded in the ongoing changes in the users’ needs and expectations, are moving at hyper+ speeds - this creates a blue ocean opportunity
Do not compare yourself with your peers, it is the recipe for disaster. Company complacency is the biggest threat to companies today. Being happy and contempt with what you’ve got creates a company blind spot so big that no one will see the real threat before it’s taken a significant chunk of the market, if not all
It’s many times more difficult to change an organization and the people than it is to get approval to spend millions on ‘IT or digital transformation projects’ with a promising return on investment. It’s just a shame that so many really ignore that the return on investment only comes when people are regarded as the key critical success factor
Hiring top talent is a two-way commitment; the organization must be able to cope with the high-flyer and the new talent should be able to navigate the culture. This does not always happen and the results are devastating. Both parties must work for a way out to succeed
A lot. But a lot of the wrong things. Imagine for a second you’re part of an organization without a clear strategy – for sure the company would have a high-flying vision as they all do, but the vision is not translated into goals, meaning, targets and action plans for the units and employees
Imagine if you had to reinvent your current company’s business model from scratch. I’ll bet that you would see a lot of opportunities for improvements and a lot of processes, products (and people) that you wouldn’t need in a digitized new version of your company
When members of a crowd believes something is wrong, but don’t say anything because they think everybody else believe it’s right, they’re pluralistic ignorant. This is damaging to the way groups behave and adversely affects the effectiveness and success of organizations
Regardless of who you are, you’re bound to have mood changes – some of us are experiencing heavier, and more frequent, mood changes than others – but we all experience these changes every once in a while. Here's what to do
"Madrid based animators, Daniel Martinez Lara and Rafa Cano Mendez created this touching 7 minute short film that perfectly demonstrates what happens when we let external influences dim our inner light, and how it affects the lives of those we love most. Enjoy! And go grab some tissues, you might need ’em!"