In a world where change is the only constant, the ability to change effectively is a critical success factor.
We interviewed 787 senior FS executives, in 10 countries,
who are responsible for their firms’ change strategies or change
programs. These are the key findings derived from the 292
insurance interviews.
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Master Change - Insurance Change Survey 2017
1. MASTER
CHANGE
INSURANCE CHANGE
SURVEY 2017
In a world where change is the
only constant, the ability to change
effectively is a critical success factor.
We interviewed 787 senior
FS executives, in 10 countries,
who are responsible for their
firms’ change strategies or change
programs. These are the key
findings derived from the 292
insurance interviews.
INSURANCE CHANGE SURVEY 2017
THERE IS A STRONG COMMITMENT TO CHANGE
of insurers are currently dedicating
moderate or significant resources
to change
53%
expect to increase their investment
in the next 12 months
A FEW INSURERS ARE SIGNIFICANTLY BETTER AT CHANGE,
AND ACHIEVE GREATER CHANGE OUTCOMES AND BETTER
COMMERCIAL PERFORMANCE
Clearly, these change leaders are doing something right –
which other insurers should emulate.
100%VS 72%
73%VS 58%
67%VS 47%
48%VS 36%
have achieved business
benefits from their
change programs
of their change programs are
delivered on time
have improved their commercial
performance as a result of their
change programs
of their change programs are
delivered on budget
73%
2. INSURANCE CHANGE SURVEY 2017
Rest of the Industry
Change Leaders
55%
96%
Have cross-enterprise digital capability
Have a clear change vision
100%
68%
Rest of the Industry
1
2
3
A well-defined
digital strategy,
a clear vision of the
changes needed,
and leadership
committed to
this change
A more professional
and effective change
execution capability
A culture that
embraces change,
harnessing
the passion of
employees and
making the firm
more agile and
responsive to
customers and
market disruption
WHAT
MAKES
THESE
SOMUCH
BETTERAT
CHANGE?
Change Leaders
Senior leaders provide the sponsorship for transformational change programs
61%
96%
Rate their organization as flexible and agile
93%
60%
Employees are optimistic, and engaged and motivated about change
86%
69%
89%
The organization thrives on fast-paced change
53%
Have a diverse range of professional change capabilities and skills
Percentage of all change programs using agile methodologies
37%
62%
Change team leaders have the data to navigate successful change
93%
59%
61%
96%
3. HOW TO BECOME A
IN THE
NEW DIGITAL ECONOMY
INSURANCE CHANGE SURVEY 2017
To see the detailed results, as well as steps to mastering change, visit our website: www.accenture.com/InsChangeSurvey2017
LEAD IN
‘THE NEW’
MAKE CHANGE
MORE HUMAN
LEAD CHANGE
WITH VISION
BE OPEN
TO CHANGE
FROM OUTSIDE
PRIORITIZE
INVESTMENTS
IN ‘THE NEW’
BUILD TRUE
AGILITY
INNOVATE &
SCALE FOR
VALUE
DEVELOP
ENTERPRISE
CHANGE
CAPABILITY
Transform the core while
creating space for investments
in new initiatives & business
Develop a culture that embraces
change, stimulates innovation &
fosters agility
Develop a clear narrative for
your transformation but be
ready to adapt it continually
Consider your role in
ecosystems and find
new partners
Ensure sufficient funding for
essential change now & space
to develop ‘the new’
Balance adaptability &
responsiveness with stability
Experiment, then
scale for business &
customer value
Develop organization-
wide change leadership &
professional change capabilitiy
1
5
2
6
3
7
4
8