The human side of digitisation - Swiss Re12f33ef1-eab8-40b3-8b55-ebf948d2d231/... · Stork example...

The human side of digitisation

Sempre XIV, September 2018

Sempre XVI , September 2018 2

Is the transference of love

really the future of

insurance?

Sempre XVI , September 2018

“You play here, between tepid indifference to active dislike”

View from an insurtech on how customers view traditional insurers

3

Active dislike Tepid

indifferenceEarn their love

“We play here, earn the love of our customers

through the micro moments that matter to them”


Key messages for today

5

Digitisation is more about humans than technology

Winners will embrace the `and`

Focus on learning agility



6



Digitisation is about humans, not technology

7

Customer

desirability

Technical feasibility

Business

viability

You are here!


Customers are driving the change, employees face threats and opportunities

8


We`re unattractive to those we need the most

9

Fewer than one in ten millennials are interested in

working in the insurance industry1.....

1 Deloitte Human Capital Trends in the Insurance Industry 2017

…and those that do lack an innovative mind-set

Bottom five differences in aspirations of insurance-inclined students vs. all students globally, 2015



10




Transference of loveMake it difficult for the

customer to leave

(Just) happening

after a disasterPrevention

BotHuman

AdvisoryRoutine

`Phygital`


Example of know do gap

13


How connected are you?

14

Are you involved in innovation?

Would you have answered the

same 3 years ago?


Multiple cultures need to co-exist

Traditional Hybrid New

Identifiers of new markets

and services, adopters and

creators of new ways to do

business

Disruptors, Innovators

Legacy and experience of

the strong history of the

business

Traditional Backbone

Translators and connectors of

old and new. Understand the

legacy but can adapt into new.

Moderate healthy conflict

Connectors

15


Which has implications for who you hire, reward and promote

Profile A Profile B Profile C

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Whole-brained humans will be less replaceable…

17

… can this be learned?



18



Learning agility is the

ability and

willingness to learn

from experience,

and subsequently apply

that learning to perform

successfully under

new or first-time

conditions.

Learning

Agility

Source: Korn Ferry

Learning agility is a key attribute for today`s employees


Learning agility comprises

20


Don`t rely on my word alone


We`ve got some key advantages and can partner

22

Swiss Re is partnering across the value chain with a primary insurer, FlightStats

and App in the Air, to provide a parametric product which automatically triggers

payments for flight delays

Stork

example

Value Chain

Solutions

Distribution Products P/UW Carrier OperationsServices

Risk Pricing Full fledged digital value chain offered by Swiss Re

Partnerships

Claims

Automated Claims Digital OperationsCarrierNew Digital

Insurance Products

Risk Alerts and

Prevention

Automated

Underwriting Engine

Client Impact:

• New product that is plug-and-play

into the client’s environment and

offers an immediate source of

premium income

• Automated digital product

positions client well with

millennials, mobile-first

consumers

• Operation completely outsourced

to Swiss Re (and partners)

Primary

Insurer



23





Employees may need to unlearn long-established patterns to remain relevant

26


• www.cognizant.com

• Korn Ferry Learning Agility

• BBC Technology

• http://www.bbc.com/news/technology-34066941

Further resources

27


Legal notice

28

©2018 Swiss Re. All rights reserved. You are not permitted to create any modifications

or derivative works of this presentation or to use it for commercial or other public purposes

without the prior written permission of Swiss Re.

The information and opinions contained in the presentation are provided as at the date of

the presentation and are subject to change without notice. Although the information used

was taken from reliable sources, Swiss Re does not accept any responsibility for the accuracy

or comprehensiveness of the details given. All liability for the accuracy and completeness

thereof or for any damage or loss resulting from the use of the information contained in this

presentation is expressly excluded. Under no circumstances shall Swiss Re or its Group

companies be liable for any financial or consequential loss relating to this presentation.

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