Keywords: Vision and strategy, insurance business model redesign, customer journey, future operating models, new business concepts, Insurtech.
Reason: the insurer is one of Europe's major insurers, active in a sector under great influence of digital transformation. The transformation is driven by changes at the client side and dominant digitization.
For the coming strategy period, the insurer is striving for maintaining its dominant market position.
The insurer is keeping up with industry developments and wants to assess how to optimally adjust to new market settings
Facts: major European insurer that offers insurance and retirement solutions to private individuals and companies. Market leader in one of its business segments.
Approach: We guided the customer in the evaluation of the business model. We evaluated both the current digital environment as the cooperation with external partners. We performed customer journeys focused on bringing new insights on how a customer interacts with both the insurer and the broker over various channels. We explored future operating models in close cooperation between the insurer’s specialists and our service design- and customer intimacy specialists.
We evaluated all possible scenarios against a sound decision model. We developed the vision and the strategy for the coming period, including the business requirements. The advice was presented to, -and adopted by the executive team.