The Facility, together with its partners FSDA and AFD, organized a webinar on "Making change happen within insurers". In this webinar, we highlighted the change management activities of two partners - AXA Mansard (Nigeria) and SUNU Assurances (Cote D'Ivoire). It also outlined FSDA and ILO's change management framework and step-by-step process. The presenters discussed activities, results and lessons that will be helpful to other organizations that wish to go through a similar change process. Presenters: Omosolape Odeniyi (AXA Mansard), Gildas N'Zouba (SUNU Assurances) and Paul Musoke (FSDA). Moderator: Aparna Dalal (the ILO's Impact Insurance Facility).

1. Making change happen within
insurers

2. Making change happen within insurers
Presenter:
Gildas N’Zouba
Directeur Central
Opérationnel
SUNU Assurances
Vie
Facilitator:
Aparna Dalal
Senior Research Officer,
Impact Insurance Facility
Presenter:
Omosolape Odeniyi
Unit Head
Distribution and
Support Services
AXA Mansard
Presenter:
Paul Musoke
Director, Competitive
Strategies
FSD Africa

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4. FSD Africa
Paul Musoke
Director, Competitive Strategies

5. Change Management in SSA Financial Sector
Contents
• The Need for Change Management
• Effective Change Management
• ILO Impact Insurance Change Management Project

6. The Need For Change Management
• Financial Sector is Critical to Inclusive Economic Development
• SSA Facing Some of the Most Difficult Real Economy Challenges
• SSA is also on the Leading Edge of Disruptive Trends in the Financial Sector
• Leading in Mobile Technology Consumer Adaption Globally
• Pressure on Leading FSPs & Regulators to Quickly Develop New Business Models
• Large FSPs Have the Scale and Regulatory Mandate to Make a Big Impact
• FSPs Currently Fall Into Three Broad Categories
• Established FSPs fighting for Sustained Profitability in mature Markets
• Mid Tier FSPs Driving Towards Growth Diversification into New Segments
• Telcos Seeking to Expand Beyond Airtime Revenues Through New Services

7. The Need For Change Management
• Repurposing Established FSPs to Address Underserved Markets Will Require
significant Organisational Change
• New Entrants will Require Support to Manage Change as They Grow
• Leadership Development, Training and Technical Services Will Be The Required
Support Services
• Technical Assistance to Support Processes of Innovation and Organisational Change
will be Key to Capitalisation of Opportunities in Underserved Markets
• FSDA Prioritises Programmes or Institutions that Can Reach Scale and Have Impact

8. Effective Change Management
• Visionary Leadership
• Exploring & Committing to The Right Ideas
• Set Out a Clear Strategy For the Change Capability
• Develop Ideas Into Sustainable Designs
• Enabling The Organisation Through the Implementation Phase
• Manage Perceived Gaps in Internal Capabilities
• Sustain Change on a Continuous Basis
• Manage Availability & Prioritisation of Funds
• Leveraging and Experience with Professional Services

9. Effective Change Management
• Knowing When and How to Ask for Assistance
• Supporting the Change Process Through Executive Coaching

10. ILO Impact Insurance Change Management
Project
VALUE TO FSDA
• Market Building
• Transformative
• Targets the Underserved
• Regional

11. ILO Impact Insurance Change Management
Project
GOALS
• Spur innovation and Build Capacity Within Leading Insurance Players in SSA
• Work with Partners to Scale Innovations Quickly to Achieve Sustainability
• Identify Related Organisation Changes Within Selected Partners
• Gradually Improving Customer & Shareholder value
• 1 Million MSMEs and Low Income Persons Reached with Micro Insurance
• Develop Change Management Toolkits
• Demonstration Cases That Can be Shared with the Broader Industry

12. Change process1. Identify (validate) the
desired future
•Identify problem or
opportunity
•Specify vision for change
2. Securebuy-in
•Communicate vision
•Createsense of
urgency
3. Organizefor change
•Form x-functional coalition
•Remove obstacles for
change
4. Implement changes
•Set strategic priorities
•Perform activities in
pillars
5. Communicate success
•Maintain buy-in
•Communicate short-term
wins
6. Mainstream changes
•Anchor changes in
culture
•Institutionalize process
and structuralchanges

13. AXA Mansard
Omosolape Odeniyi
Unit Head
Distribution and Support Services

14. CONTENTS
1. Key Activities
2. Key Learning

15. 1
KEY ACTIVITIES

16.  Compulsory (Loan-tied)
 Voluntary (Deposit-Linked)
Benefits are tied to bank
offerings
OPT-IN PROCESS
 MFBs
 Affinity Groups
DISTRIBUTION CHANNELS
 Life
 General Business
PRODUCT CLASS
 Product was launched in partnership with MicroEnsure
 First EC product that was launched targeted at MFBs
 Life Cover
 Hospitalization Cover
 Property Cover
 Permanent Disability
 Family Cover (Death)
Distr. Channels select
relevant benefits
PRODUCT BENEFITS
PRODUCT DETAILS
LAUNCH OF KEY MICROINSURANCE PRODUCT (MFB-TIED)

17.  World’s first Microinsurance intermediary
 Began operations in 2002 (Premium collection and claims management)
 Provides protection against the many risks faced by those living in poverty
 Specializes in building products that meet the technical demands of underwriters but are simple enough
for customers to understand
Key Activities – Collaboration with Microinsurance Expert (MicroEnsure)
MicroEnsure
Partnership
Product/Process Design
Operational Setup
Data Management
Prospecting
Target
MicroFinance Banks
Affinity Groups
Result
Sign up of 1 MFB
Continued discussion with others
Launch of 1 product

18. KEY ACTIVITIES – MICROINSURANCE DRIVE (CUSTOMER INSIGHTS & SUPPLY
SIDE)
TELCOS
 Strategy sessions with MTN
 Repositioning of previously existent EC product
 Microinsurance product approval process
 Market research activities
 Ideation workshop (fallout of the market research)
 Change management workshop
 Capacity Building – ILO Market research training
 Involvement in:
 women-focused project
 Agric-focused project
INTERNAL ACTIVITIES
3RD PARTY PAYMENT AGGREGATORS
 Discussions with Paycom
 Discussions With Teasy Pay
 Strategy sessions with GTBank
 Strategy sessions with Diamond Bank
 Partnership launch with Bosak MFB
 Discussions with Accion MFB
 Discussions with Advans MFB
BANKS/MFBs
Since the launch of the Emerging Customer initiative, there has been an awakening within the organization on
MicroInsurance.
The team has been involved in a lot of discussions with prospective partners who want to partner within the EC
space.
Some of these activities include.

19. 2
KEY LEARNINGS

20. KEY LESSONS FROM ACTIVITIES EMBARKED ON
Increased Interest in Emerging Customers within the organization
Increased activity around promoting financial inclusion within several
key sectors
Increased need for progressive regulation within the EC space

21. SUNU Assurances Vie
Gildas N’Zouba
Directeur Central Opérationnel

22. Why we did it
Significant size change
• Merger-takeover in Nov-15;
• Now #1 Life insurer in Cote d’Ivoire (CIV) and the CIMA region
 Significant operational readjustments needed.
Competitive intensity increasing
• First insurer to launch mobile insurance in CIV in 2011 with Orange.
The top 4 insurers in CIV now do it as well;
• Market saturated in large cities  New challenge: Inner country.
Changing environment
• Booming medium class, and 92% of the working population
vulnerable, calling for an increased financial protection;
• A technology gap that must be bridged quickly.
1
3
2 Low-cost life insurance:
$0.9/month + Tailored savings
product
Both operable on the mobile,
via Orange Money
+
30 STAFF
70 STAFF
117 STAFF
+ interns

23. How we did it – A strong core
Extended diagnosis phase
Becoming familiar with the company, the people and the environment.
Top Mgmt on board right from the start
Strong internal communication plan rolled-out – formal and informal:
- Language switched: “change” → “improvement”, “evolution”;
- Internal paper rerun;
- Town halls and regular roundtable.
Structured and nimble methodology adopted
Building capacity to move from implementing to streamlining change:
- Merger  New scale  Professionalization required;
- Project mgmt structure implemented  4 clusters of excellence.
→ Managing change while running business as usual required new skills.
1
3
2
We determined
precisely where we
were
Prior to defining
where to go
Desired future
Internal
reorganisation
Product &
Distribution
Information
technology
Pilot
CM process ref.:

24. How we did it – 3 shifts
Product-centricity  Customer-centricity
- PACE analysis (ILO tool);
- Marketing team created;
- Market research and focus group discussions;
- Prototype testing prior to product launch.
Distributors  Strategic partners
- Understanding their business model and challenges;
- Partnership proposal highlighting potential adjacencies.
Technical process-oriented  Customer experience-oriented
- Customer journey mapping (CGAP tool);
- Rationalisation of the operational procedures;
- Gravity centre shifted from Production and Claims to Marketing,
Sales and Customer care.
1
3
2
CustomerValue
PACE assessment
Market research
Client profiling
Customer journey mapping
Distribution & Operations
Distributor mapping
Process mapping
Sales pitch focused on value
proposition
Business Case & Risk Management
Map potential risks (reputations,
operations, solvency)
Governance & People
New unit setup
Roles and performance measures
related to low-income hhsDistribution & Operations
Distributor mapping
Process mapping
Sales pitch focused on value
proposition
t Governance & People
New unit setup
Roles and performance measures
related to low-income hhs
CM framework ref.:
AVANT SOUSCRIPTION SOUSCRIPTION APRES SOUSCRIPTION
Site internet
Face àface
Téléphone
SMS
visuels
Presse
6- Demande
de situation
sur sa police
7- Invitation
au tirage
8- Vérification
de son numéro
de tirage
9- Dépôt du
dossier de
rachat/
Gagnant
10-
Règlement
1- Prise de
conscience
2- Recherche
de solutions
3- Approche
commerciale
4- Remplissage
du BIA avec la
CNI
5- Réception
du BIA
Distribution & Operations
Distributor mapping
Process mapping
Sales pitch focused on value
proposition
t Governance & People
New unit setup
Roles and performance measures
related to low-income hhs
CustomerValue
PACE assessment
Market research
Client profiling
Customer journey mapping
Distribution & Operations
Distributor mapping
Process mapping
Sales pitch focused on value
proposition
Business Case & Risk Management
Map potential risks (reputations,
operations, solvency)
Governance & People
New unit setup
Roles and performance measures
related to low-income hhs
Distribution & Operations
Distributor mapping
Process mapping
Sales pitch focused on value
proposition
nt Governance & People
New unit setup
Roles and performance measures
related to low-income hhs

25. What we’ve learnt
Implementing is the moment of truth
• Content produced during the diagnosis and design phases requires staff appropriation;
• Progressive methodology and best practices uptake is essential;
• The reality check is when the project meets with business as usual.
Failing to convince the staff is a deal breaker
• Identify a core project team, ambitious, nimble and flexible, including opinion makers;
• This core team must achieve quick wins  Bring tangibility;
• Tangibility is a strong contributor to convincing the inner circle, who will then convince
the outer circle.
Challenging the status-quo must be supported by training
• Dealing with vulnerable customers requires a new business model;
• This new business model requires significant changes to the operational procedures;
• Some job description evolve, others are created from scratch  HR involvement and
early training to match this new need of skills is essential.
1
3
2
CM process ref.:
Transverse agility is
key to be successful
in managing change
Core
team
Peripheral
team
All staff

26. Making change happen within insurers
Presenter:
Gildas N’Zouba
Directeur Central
Opérationnel
SUNU Assurances
Vie
Facilitator:
Aparna Dalal
Senior Research Officer,
Impact Insurance Facility
Presenter:
Omosolape Odeniyi
Unit Head
Distribution and
Support Services
AXA Mansard
Presenter:
Paul Musoke
Director, Competitive
Strategies
FSD Africa
Q&A