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Webinar ID: 656-344-524
Join us for this webinar and listen to an experienced, global panel of insurance professionals present, discuss and answer your questions on the theme of “Organisational Design and Strategy”.
By participating live you can help to shape the panel questions and also participate in our live poll.
Note* – This transcript is Machine generated and not 100% exact. It is designed to help in search.
Timestamp: 0 min to 1 min
This which I think is our 33rd KPMG sponsored webinar. I’m Hugh to read from the digital insurer. And if you’re over in America, it’s good morning. If you’re in Europe, it’s good afternoon. And this you here in Asia. It’s good evening. We’ve got a great topic today, which is organizational design and strategy. If you look at the logo of TDI, you’ll see zeros and ones and then outside those zeros of ones.
Oopsie that strand of DNA and really at the heart of digital transformation is people and it’s really good that they were going to be talking a little bit more depth around that we’ve got a fantastic panel going to go to the next slide today my colleague and partner in crime. Simon Phipps is going to be our moderator for the panel. We have Pat Neyland is in New York with KPMG. We have Mark
Timestamp: 1 min to 2 min
Look who’s with Spencer Stewart in on coal and last but not least. We have Alan Walker who’s an independent International Insurance executive advisor with a very long history and he’s in Chicago as well. Each of these panelists are very experienced and will bring a slightly different perspective on this issue of Odeon strategy. So Simon with no further Ado. Let me hand over to you to moderate the session. Yeah. Well, thank you very much.
You and good morning. Good afternoon. Good evening. Everybody around the world. This is not the first time. I’ve been running one of these as a moderator from an airport lounge. So my apologies if there’s a little bit of background noise. I’m on the red-eye and a couple of hours time back to Hong Kong where if you’re taking an interest in developments over there. There’s been some recent announcements in the last few hours, which will hopefully he’s a pass to little bit more of a stable environment puts time will tell so it’s my pleasure to be
Timestamp: 2 min to 3 min
Motor Racing again, another of our webinars kindly sponsored and supported by KPMG. This one is we’re running a bit late in Asia turns to enables us to accommodate more sort of attendees for other parts of the world. So thanks for joining wherever you are. I’m really interested in this topic. I’ve been really looking forward to it. So I’m really pleased personally to be involved many of you will know that we go to some lengths as a digital insurer to stress.
Is that even though we have digital in our brand and our titling we’re very aware of the role of Technology as being an enabler to deliver business strategy. And we also go to some pains to stress that we don’t see a world in which It’s All Digital and there are no humans. In fact quite the opposite business ultimately is still all about people even if you’re a technology orientated company with tech it your roots is still all about people. So at the digital insurer, we’re very mindful of the fact
Timestamp: 3 min to 4 min
there’s a real and a really important conversation around the role that people play in digitalization of insurance and we’ve consciously not gone there too much until kind of now because we’ve had a lot of other things to get involved in in topics to run but we are increasingly focused on this question of how do you raise the tide of capability across Insurance organizations to accelerate the digital transformation of insurance, so,
so it’s arguably long overdue that we’ve now got a good discussion on the people aspect of digital transformation and organizational design is the sort of title we can using so we’re going to look today at a few of the things you can see on our screen, you know, starting with a little bit of a discussion, I guess around organizational design impact we’re going to be hearing from you know, I guess the search side of the market looking at that and some of the roles that are proving to be
Timestamp: 4 min to 5 min
– demand at the moment in the sector and also looking at culture how does digital planes who is evolving and changing transformational culture sort of activities and also looking at how technology and ensure Tech firms are starting to work with organizations already established in the sector and how both the big and the small can get the best out of those sort of evolving relationship. So we’re going to cover a lot of things as Hugh so we got really interesting panel.
And looking forward to jumping into it now. I guess just a couple of sort of housekeeping sort of comments before we get going on this sometimes people get connectivity issues almost every time it’s a local issue. So please of try and do what you can and if necessary sort of dialogue come back in during the course of these webinars. What we try to do is make them a little bit interactive. So the way we’re going to run this is we’re going to hear from
Timestamp: 5 min to 6 min
Strop analyst first while they’re talking you will see at the bottom of your screen and opportunity to submit questions in queue a so, please feel free to submit questions or any thoughts you have in the chat area as well and between myself and the panelists will be looking out for those if you’re asking a question that we think will be of interest to the broader attendees sort of this around the world will try and make sure we have that and kick it around as a team to try and help bottoming out for you. So let’s try and
make it as interactive as we can. The other thing I would say is at the end of each of the opening remarks from the panelists. We will be running a quick poll. So we’ll be asking you for a little bit of interactions and thoughts on a question that will launch on the on the sort of screen when we get to that so I think that’s a little bit of the formalities over. The last thing I guess to say is we’re recording this session. So you’ll be able to review of a copy of
Timestamp: 6 min to 7 min
The defendant from Samara orbits. But yeah, bro, maybe if you can just move on to the next slide now, please so pleasure of really firstly to hand over the party’s base over in the US some may know on this webinar that I was with KPMG before coming across the digital insurer. So I’ve got a bit of a soft spot for the team and always Keen to meet people that are at the sort of sharp end in KPMG and sort of active in the technology area and looking out for Innovation and Pat.
We much is focused on this topic of innovation and Enterprise Solutions. So I think what we’re going to do Pat with you is firstly look at this question of how our insurers and ensure tax are kind of starting to work together some of the opportunities and maybe some of the challenges and if you’ve got a few tips of the people on either make the best out of this marriage may be made in heaven the great to get into it. So maybe part I can hand over to so thank you for your time.
Sounds great things through much Simon.
Timestamp: 7 min to 8 min
Intro and thank you everybody for joining today. I’m Pat dealing with kpmg’s Innovation lab New York City. We work pretty closely with a large number of carriers and ensure texts on a variety of different Innovation focus problems and opportunities across business and operating models, and so very excited today to talk about considerations and organizational design for partnering with Ensure Tech from a carrier perspective we go to the next slide, please
So I wanted to start with our high-level point of view on kind of where we are as an industry from an innovation perspective. And so we use this highly scientific chart to plot Innovation over time across the space and it’s our point of view that we’re at an inflection point, right? There’s a lot of change happening in the space, but it’s been largely incremental. So we’re seeing evolving customer expectations driven largely by experiences outside of the industry. We’re seeing a massive proliferation of new data.
Timestamp: 8 min to 9 min
Is new data volumes and a need for new computer and analytics capabilities to actually do anything with that data.
See new entrance coming into the space and trying to take market share through new products and new offerings and we’re seeing the emergence and early adoption of nascent Technologies from carriers who know how to use them for some value but haven’t really figured out across the industry how to scale these Technologies and so no one’s quite sure of the future is going to play out right things could continue to be incremental as they have in the past few years. We can maybe see more Innovation driven by insurers where risks are addressed and more.
Personalized level prevention is offered at scale or perhaps we could see A disruption Story play out where new competitors come into the market offer better faster cheaper products and start to to own a larger chunk. But if we go to the next slide, please we’ll see increasingly as a result of this change in this uncertainty new.
Timestamp: 9 min to 10 min
In the market carriers are turning to start up this as a potential solution to this uncertainty and into this change. And so, you know on the left here, we have a select number of corporate Venture Capital arms funded by carriers themselves and the right we have publicly announced Partnerships between carriers and ensure text over the past couple of years and you know, as we all understand if you followed the space not all of these deals not all these relationships are built or designed.
And equally some are focused on financial returns. Someone strategic some on branding most are probably a combination of all three, but what’s important to remember is carriers or spending a lot of time and a significant amount of money on this space and they see these companies and these Partners as a real way to respond to the changes. They’re seeing in their market and adapt and modernized their businesses and it KPMG having been in the space for a number of years having had
Timestamp: 10 min to 11 min
Over 75 carriers through our Innovation lab for design thinking sessions to think about these problems. We started to recognize a few common activities or threads or Trends in the folks who we think are doing this particular particularly well and are finding real value in their relationships with their startup partners. And that was kind of the impetus for this talk and the accompanying paper that we wrote with TDI. So if we can go to the next slide, please we’ll see our high-level list of kind of the process that
that we see folks carriers follow and the space to do this. Well, right and these like we said earlier are really the considerations for organizational design and thinking about building a deliberate structure for partnering ensure Tex. Like I said, this is a process but you know, not every successful partnership has all these elements included some folks, you know choose to forego a number of these and they still find success and value some may do
Timestamp: 11 min to 12 min
You’re all of these and still find friction or have trouble scaling a partnership. It’s more about being deliberate with the way that you’re approaching your activities and your organization or structure before setting out on finding partners and building relationships. And so I know we don’t have a ton of time today. So I’m not going to go through each of these nine and detail, but I think it makes sense to talk about some that are maybe more important and at times more
Looked by carriers as they embark on this journey. So I’m going to start with number one, which I think is probably the most important given what I’ve seen in the space and that’s leading with the need what we mean by this is really having a firm understanding of of your business what your business problems are your objectives where you’re trying to solve in the market and once you understand that knowing which of those problems in your business are potentially better solved.
Timestamp: 12 min to 13 min
By working with a partner rather than an internal team or an internal capability. All right. So having that firm grasp and gressman who you are as an organization is is really important, you know often we see folks who go to conferences or attend a seminar me an interesting or smart team at a start-up or hear about an interesting technology and say this has potential I need to find a way to fit into my business or a leader comes to them and says, hey, you know, I read an article about this. Please find a way to bring it in into our firm cross R value chain.
And those those opportunities do have success at times but we see the folks who leave the business problem. Go to the market with that problem is having the most success.
I think number three here about procurement is probably one that we’re seeing growing more and more and it’s something that’s really appreciated by startups. And it’s probably the easiest way to reduce friction early in a relationship. So a lot of carriers their procurement processes are built and designed for partnering with
Timestamp: 13 min to 14 min
Large established companies and they take time and they take effort and most startups that we’re talking about in this space are small agile teams. They have limited resources and limited time. So to ask them to fill out a 30 page questionnaire about their business or go through some incredibly intense diligent prodigious process often brings friction into the relationship and sometimes startups can just decide to walk away and find a new partner instead of going through it. And so what we’re seeing more and more is carriers are
Are looking at their business and trying to understand exactly what data points they need about a start-up and what they don’t and using that to streamline the process so aligning their technology and legal teams to really know exactly what they need and what they don’t and using those early on to establish relationships looking forward. You know, I think five is is quite important as well as we’ve seen folks get pretty creative with this but it’s assigning an accountable internal party.
Timestamp: 14 min to 15 min
Driving success in measuring a relationship with a start-up. So we’ve seen folks do this with an individual. We’ve seen it done with teams. It can be a full time job. It can be nights and weekends or eight to ten hours a week. But this is a party whose was responsible for measuring output and activities and Investments across a relationship for aligning internal parties introducing start up to the stakeholders that they need to work with understanding who it might scale out to as a business and they’re all
family responsible for educating their business internally about if the if the relationship is going well or if perhaps the plug should be pulled on a partnership that isn’t succeeding.
I know we don’t have much more time. So I’ll spend a minute talking about one more which is number 9 which I think is kind of a rapper on on the entire process of just having a plan. I mean playing for scaling relationship, you know, we hear all the time about folks finding.
Timestamp: 15 min to 16 min
Startups establishing a relationship running a you know, a 4 to 12 week approve of concept and then at the end it’s hard to decide what to do with with the startup. We’re in the business to make sense to graduate the startup out to scale who will own a relationship. We see folks who plan this out before they sign on the dotted lines or invest any money is having much more success in finding real value throughout their business Beyond just
just an initial proof of concept. So I think that’s all the time. We have allotted happy to answer any questions or talk about any more of these offline.
Yeah, thanks Pat. If I may I’m going to I’m going to jump in with a couple of questions before we go to the snap poll. So there’s the chart you showed up at the beginning sort of gives quite a clear indication that the level of my guess and sure.
Timestamp: 16 min to 17 min
Second vestments us Rising right? What’s your outlook on on this trend of sort of partnering between the big and small you think we’re going to continue to see a fairly steady build over the next couple of years as more insurers sort of engage in transformation efforts, so you because I mean, I guess the heights three or four years ago started now, the reality is kicking in you think we’re going to continue to see this as becoming more of a sort of business as usual challenge for this.
Working together with smaller companies. I think we’re going to continue to see these Partnerships forming. I think the nature of the Partnerships may change, right so over the last few years we’ve seen a lot of great Solutions come out that are targeting different parts of the value chain be it a new claims process or a new data source or new algorithm for underwriting and a lot of those tools are great and they bring real value, but mostly they’re focused on updating existing operations.
Timestamp: 17 min to 18 min
An insurance company, I think some of the more exciting work that we’re seeing and the real value is folks who are trying to either digitize your transform an entire process in the value chain or help carriers, bring new digital experiences to their customers and new digital only products to Market. So I think relationships that are focused in some of that longer term future looking value across the business. I think we’ll see more of that going forward. Yeah. Yeah. I’ll be I’ll have to say I think you’ll sort of
Top 10 list of it’s a really practical list. I think very useful for people that are actively involved in this. So thanks for pulling it together and I was listening to what you were saying around sort of tech sort of developments and then people running around saying how can I use them? I remember once someone using the phrase of solution trying to find a problem, right which is another phrase. I’ve picked up a few times a shiny new toys where you know, people particular the tech Departments of got this new little thing and that they want to see if it can get any traction anywhere so
Timestamp: 18 min to 19 min
I was struck by your comment around lead with I think that was lead with the need. I think that’s absolutely spot-on. So I’m guessing that is your main call out from your top ten list. Is that one that that is your number one for a reason? I see that’s number one and one that I didn’t mention. I probably should have hit should have his aligning stakeholders across the business early and that’s that’s real leadership within the firm. But it’s also the business units whose jobs are actually going to be impacted by this technology or solution if it’s scales across the business, right? I mean,
It’s easy to run a test or you know have a Sandbox environment and have some testing data. But if the person is going to sign a dotted line or hand over a check to the startup isn’t interested or they have a competing solution that they’ve built internally that you don’t know about. It’s really hard to actually get these things scaled throughout the business. Look what I want to say. I want to go to engage our audience little bit and so Brooke if we can just put up the the sort of poem now.
Timestamp: 19 min to 20 min
Like to ask everybody who’s online, so just just reflect on this question. So Pat’s kindly shared a sort of top 10 list as critical success factors there and we’ve got them up in front of us. Now. We’d like you to just think about from your perspective what the top three things are may be reflecting on what patch just said and what you what you see is your own sort of challenges in your own organizations since just take a minute to just pick three in some sort of vote for those patients take a look at the results in just a moment. How are you?
You using this sort of constructs in this sort of critical success factor list Pat with clients. So you you know, you you finding that you’re sort of spending a lot of time. I guess it sort of helping educate and and I guess one of the questions is how do you move from a really good list like that so hard wiring it into VA you I mean, how did you get people using a checklist like that? Sure. So, you know, typically we aren’t introducing it as a list to clients of the things that they consider.
Timestamp: 20 min to 21 min
More organic based on conversations and what their needs are and some folks have already nailed a handful of these and they do them very well. And so it’s more about meeting them where or perhaps they’re finding friction. But you know, I I think some of these across the industry we’ve seen scale cell phone number for finding the right Partners. I think it that is much easier today than it was maybe five or six years ago when we have, you know, ITC coming up in a month.
And all these conferences and databases online. So that’s one that folks have a little bit less trouble with now but finding metrics to measure your Partnerships and and these new separate technology environments. That folks are using to those are areas where we’re seeing a lot of interest. Yeah. Yeah. Okay good. Well, look, I’m sure we’ve got some results in there. So I’m broke. Can we pull up what we’ve got and see where people are
Okay. Well probably a little bit led by you putting it.
Timestamp: 21 min to 22 min
One and then us having that discussion, but I think everybody obviously I would say this but I think meeting with the need absolute is no surprise that was coming through what else we got here pack. I mean, I think you called gaining stakeholder buy-in early right Partners getting accountability established early on these are the ones that are standing at most any surprises here.
No surprises. I think meaningful metrics is one that that folks sometimes Overlook also depends on who’s who’s owning these relationships. So, you know that a lot of firms they begin with internal Innovation or Venture Capital teams, which are great ways to understand the market and Scout and align your business needs to the market but it’s sometimes difficult to align traditional Insurance metrics or metrics that some of the sea level folks in business care about
To those early Partnerships, and so finding a way to align the product business with numbers, too.
Timestamp: 22 min to 23 min
Doing startups is really important. So I’m excited to see that one a little bit higher than some others in the west. Yeah. Yeah an interesting to see established a separate technology environment down at 4% Not many supporters for that one.
True interesting. Yeah, well, maybe we’ll hold this one and we’ll come over to Alan a bit later because he’s taking attack orientation on the part of his discussion. So thanks to those results. Now. The other question we’re just going to pop up is clearly patent the team they’re pretty actively involved in looking at how insurers can work more effectively with in short X. If you wanna have a quick chat with part somewhere other after the webinar next few days and just let us know here will collect you guys up. So please answer that nice and quick.
We and then what we’re going to do now is we’re going to move on to our second panelist, which is Mark not Baloch. He’s based over in Hong Kong. So later part of the day long with myself, and you and Brooke Mark. Welcome again your base.
Timestamp: 23 min to 24 min
Obviously been in Asia for a while and you’ve got an exceedingly good reputation in the industry for what you do you work for very highly regarded organization and got a lot of good thought leadership and really got a lot of good people who spend a lot of time placing really good people around the world amongst other things so great to bring in your perspective, I guess has a if I say search professional search for my orientation, I suspect that’s not doing Spencer’s here Stewart.
That was a good service because they do a broader a broader range of things in that but Mark, please share some thoughts on I guess how OD is evolving from your firm’s point of view and your personal point of view and insofar as it’s relevant. Give us a bit of a digital spin on that in terms of you know, how specifically odie’s being impacted from a digital perspective over to you. Thank you. I hope everyone is doing great. I’m actually calling
Timestamp: 24 min to 25 min
Form from Bangkok right now where we have. Oh, sorry. I assumed you were in Hong Kong. I’ll shoot you at home come yeah. Fantastic. I think sometimes it’s good to be right now in Bangkok not in Hong Kong effectively. Yeah, you know, I have been lucky enough in terms of expenses to it to see a wider range of collaboration between our practices together that captures together the the marketing aspect that
data aspect of Technology aspect and together with the function of insurance to see how actually HR and Executives have reacted to a change of a customer expectation of change of the employee expectation and also all emits basically technology disruption that we are all part of to witness now when I actually
Timestamp: 25 min to 26 min
but actually have been preparing for this webinar. I’ve been hearing a really good joke and I think it kind of captures the state of the industry that we are in to two people are on a safari in front of a tent all of a sudden hearing a lion roar and one person actually takes the backpack and takes shoes out running shoes running gear and starts to change the shoes the other guy.
Looks at him with awe and saying hey, what are you doing? You cannot order on the line and the other guys Smiles, but I can outrun you. So I think somehow it kind of reflects where we are. People don’t want to or corporations don’t want to be the victims. They don’t want to be seeing falling behind and clearly therefore. They have been investing huge amounts into technology into my
Timestamp: 26 min to 27 min
Acting to help the organization actually build a more customer-centric type of organizational design. However, we all know it’s not perfect and it’s what the industry of insurance is currently still struggling with however in terms of a digital hiring in terms of a town hotspot point of view. We also have to really put into consideration whether we talk about those insurers that have an Asia.
An America or in European kind of dominant home office the state of transformation the state of innovation started always with the head office proliferated into the Regional Offices and it starts to trickle down slower into the countries. And obviously there is a time constraint as well now in terms of the my the kind of interesting from
Timestamp: 27 min to 28 min
Possibly the audience point of view we had one I think’s really was asking already about what is the preferable position of X versus others. It seems to me that currently the digital marketing. For example, these type of rules have been slower in terms of the D’Amato had been slowing down in terms of Demand on the technology side. Everything is geared for a
love specific sectors that have seen actually salaries Rising very very sharply. And this is all about data analytics clouds cybersecurity and especially right now the topic of AI and machine learning and if you are in these type of areas actually over the last couple of years because it’s such a very constrained talent pool. The salaries have been I would say I’ve seen offers
Timestamp: 28 min to 29 min
Going up tremendously. I’ve just had an interview with one of the head of HR one of the global heads from one of the tech firms and somebody was hired from Google. Sorry guys that I share this but the offer for a five-year-old experienced data analytics person in Google was offered 5 million in stock and it shows you how much actually companies are.
Willing to spend for key hires and willing to actually put into as an investment to get these people in the interesting part. I would say also is that companies have realized that they needed actually when they make these tops elections in terms of C minus 1 c 1 is 2 they need to groom people on the on the lower. Let’s say C minus five and five and four in
Timestamp: 29 min to 30 min
To develop and stretched and further leaving actually specific time for them and also space for them to develop these kind of Oak design. I would say Trends. I see actually being adopted from Tech first and I see them also adopted into the financial services and insurance industry overall now in terms of the salary pod, I think also is interesting to mention that
Actually the fast hiring you’ve seen all probably the problem that the process to get actually an offer across the table takes sometimes weeks and months and people have multiple offers. So I think HR and the executives around technology have identified that and actually build teams to respond with a fast hiring approach for these kind of strategic top. Hi.
Timestamp: 30 min to 31 min
And I think also from a point of view of creativity. We have seen actually not just basically offers in terms of sign-ons, but also retention bonuses also deferred compensation schemes to be much more actually part of the offer than before next slide piece.
the data that I had seen that last year we had 326 or in you unicorns in Tech shows you that there is obviously the effect of fear we have to change we have to we have to adopt to that and on the other side. We also see that basically corporations by their by their by the investors are being asked. What are you doing actually in terms of?
how to grow the business and how to make your
Timestamp: 31 min to 32 min
Organization more customer-centric more agile and it is a let changing landscape there that is demanding actually to do much more. We’re also I think the pressure is cooking higher than ever before on these organization to show results the orc design. The the strategy part is obviously the hardware I would call it. It is the part that basically sets the tone and gives basically a direction to the
the corporate to to develop further. However, if from an agile point of view, the the state is clearly that some parts of the organization have adopted a better typically that is detective Anderson transformation part other areas of organizations have been really slow to the change in the insurance sector is one of those that struggles with this kind of to speed one of the most in
Timestamp: 32 min to 33 min
The market next next one, please.
And we’ve basically assessed however 1300 multinationals and we’re trying to find out what are the key success factors actually in delivering that and is this basically something where you could measure a kind of significant return of investment and why and I do think that the components around all of these are well known to everyone. It’s
Some eccentricity responsiveness. It’s building an inclusive type of culture. But you have here different thoughts and opinions how to solve issues is the not just a silo culture but basically cross collaboration between the teams and the highest speed of decision making quick investment or basically also the decision sometimes not to invest or basically to divest and
Timestamp: 33 min to 34 min
The Kaylee also one of the key areas is the enabling technology systems for this kind of transformation that the average that was mentioned was around 61 percent in terms of how these how these fields how these capabilities work together.
If you were in the top quartile, however, then you have double growth and that means actually that behind all this demand for change. It’s not just basically to be not the last one eaten by by the others, but it’s actually also for shareholders. It’s in it’s very much also, in terms of the organization itself. One of the key things that organizations can do to thrive and actually to build further growth in a uncertain time and next one, please.
now we had Spencer Stuart were very proud to say that we had actually acquired a key business from
Timestamp: 34 min to 35 min
I’m sure it which was built around the engagement the culture in the assessment piece and I have also presented a couple of slides from the team’s there some saying a big thank you to mr. Hickey and also to Canola now what we are obviously from a from a leadership advisory from an executive Search and from an engagement company trying to assess is the feedback loop that Tha
Clearly not hang equation and effectively what we have found out is that there is also a new kind of Leadership Model emerging and engaging leader someone who is self-aware humidity oriented play.
Timestamp: 35 min to 36 min
Coach developing people and helping basically to build a kind of collaborative mindset with a lot of Courage actually to to to build out a customer Centric model not everyone is out there like that. And I think people are trying to learn and to be coached to be better that we all do but this is basically one of the fundamental for our company has been asked to help identify these who have these capabilities and these cultural traits to move the young bum.
Ization forward the engagement piece is is becoming much more important the CEO and the the leadership needs to understand not just basically from the Doric reports, but basically also how is how are we doing how have been we’ve been able to to get on with the change and builds these feedback loops back to the leadership culture is the outcome of it. It’s the water that flows through the organization and it is
Timestamp: 36 min to 37 min
About the under the type of decisions on a team or an individual does without being actually directed and these kind of feedback. Loops are actually those that an organization can look at to make changes about Target design and how it should change itself towards that next one, please.
Now we use a framework and their different ones. I think our company has actually looked to summarize and to in to integrate about a hundred forty different studies and I try to introduce that because I think it is a very visual easy-to-understand model and we have tried to understand cultural framework from two angles how
how people are working together.
Timestamp: 37 min to 38 min
Either independently or interdependently together or basically from a vertical point of view are people stable or are they needed needed to be in terms of flexibility and a moment there. We have been deploying here actually eight different styles and I’m not going to go into too much details, but effectively when we talk about an agile culture when we talk about
The kind of customer centricity related skills and it is actually the one that is on the upper two quadrants the parts where we utilize it is that we try to assess people that come into leadership positions. How are they actually Geared for this kind of Target culture. And also when we look at the entire organization whether we have someone who is a
Timestamp: 38 min to 39 min
Game Changer someone who is rattling the tree or a very very good fit for the current culture as well. And therefore it is actually a very powerful tool to combine individual team and also corporate culture alignment next one, please.
We’re doing a step 4 not yet. That wasn’t the plan. This is where the this is where they end the seabrooke.
Yes, I think it will be that and I do think that generally culture as a is a type of question is something that we hear from many of the CEOs or CEOs as the key skill how to move an organization forward. So in terms of the the attention this
Timestamp: 39 min to 40 min
This topic has been receiving. It is huge as a enabler of art design and therefore also the success of the transformation. Thank you the more prank you and I you know in a very short period of time you very eloquently Blended what you’ve covered a lot of ground you given some really practical perspectives on where the digital side of the market is and of course anchor the discussion around some of this broader sort of frame working around cultural shift, which is a big challenge just a question or two.
To from me Mark and then we’ll move on to Alan but I mean you’re very actively involved personally with the insurance sector you work at a senior level. We all know that insurance is struggling to catch up with other sectors in this sort of digital transformation Journey. We don’t like to focus on negatives. But let me ask you a slightly, you know of question that focuses on the challenge inside of it. Is there a is there one thing that you’ll see insurers sort of get wrong consistently that you know.
Timestamp: 40 min to 41 min
It’d be great if they could all sort of get right as you go around and meet all these different executive teams. And you look at talent and organizational design is there are sort of common mistake or area where they’re behind the curve in there thinking compared to other Industries. You know, I think I think they have might have two points actually and one is clearly that I believe that organizations are not really structured from an orc design point of view towards customer centricity there still.
A very product Focus. There’s still a kind of distribution LED mindset where it is. Typically a the the if we talk for example about the life insurance industry that the agent is actually the customer and I would think the orc design would need to understand that the agent is is a stakeholder. The End customer is actually the key to success the second part. I would think also is that
Timestamp: 41 min to 42 min
I’m I’m not sure if this is only a morgue design issue that it often. Actually. There is a missing sponsorship from the top. I do think that several rules need to directly report into the CEO and this could be the chief digital officer. It could be actually could be a chief data officer combined with others. However, if the top of the organization is not a hundred percent.
Even in this as a value, I think you can you can bring as many Chief digital officer as you want. You will not succeed in the transformation. Now the second part I would think also is that there is still a distinctive struggle between the chief digital Chief marketing and the chief technology the chief it officer and I do think that the the
Timestamp: 42 min to 43 min
It the the both have not yet. I would say understood where the key for successes and it creates a lot of political tension between those two parties those two things. I would say are the mistakes currently being made. Yes. Thank you. Well, I certainly recognize those in some of our conversations as well. And again, I’m sure I don’t have a view on this when we move on to the next part of the discussion. Thanks Mark. Let’s move into a poll question, which I think we saw quickly and so the earlier, but just to call.
This up again. So the question we’re going to pose here is to what extent you your own organization is getting to the heart of cultural information in our new increasingly digitally enabled world. So, you know, how all in really is your leadership team in China lead from the top and orchestrate a sort of cultural shift that it’s going to harness digital for a better Customer Center abroad right to a large extent to some extent will very limited longer.
Timestamp: 43 min to 44 min
People are specs don’t appear to be a priority right now and you could be honest, right? We’re not going to share the results with anybody. So we’re just interested in the shape of the results here. So yeah be interesting to see how people vote on this one Mark it’s you know, it’s not easy running the business and changing the business we often reflect on this and certainly recognize your point earlier. I think in skewing I sometimes talk of and coined the phrase of customer-centric digitally enabled to make the point that you know,
Digital and Tech should really follow behind your business strategy. But of course any insurance we’ve seen over the last 10 to 15 years lots of companies purport to be moving to a customer Centric model becoming customer-focused very few have actually achieved it because they haven’t probably taken a holistic approach to that and taking a long range should have approached it takes time, right? So where are most people here’s the results. Thanks Brooke. So to some extent so really on the fence a bit here.
Timestamp: 44 min to 45 min
There are some pockets of activity that gets the people side of the business but not a sort of all-in commitment or consensus on this. What do you think of these results? You got 26 percent saying almost not at all. Very limited. I would say reflects it. First of all, the audience here is clearly interested and a very very probably an early adopter of these kind of let’s say digital transformation reflecting the result actually in that sense Nets.
It’s not yet the highest priority for the organization, but we are on our way. It’s not going to go away.
Yeah, absolutely. Okay, good. Well, thank you. That’s just another question on here as well. So similar to the question. We posed a little bit of do with Pat if you’d like a follow-up conversation or dialogue with Mark. All our connection into is wider team and colleagues then just let us know now just yes or no will share the details with not after this. So we’re now moving on to our third panelist Allen who’s been
Timestamp: 45 min to 46 min
The waiting over in Chicago. So Alan welcome as Hugh mentioned earlier. You’ve got a long and distinguished career in the sector. Most recently. I think is EVP and globally for digital Insurance it capgemini. So you’ve you’re well connected and I’m sure well informed so really looking forward to hearing some perspectives from you and you’ve kindly kind of volunteer to keep your focus fairly narrow because one of the things we were Keen to get to in this discussion other than the sort of
insurance and in short stack stuff from Pat and the people and cultural perspectives from Mark was have a look at the it function and how the sort of tech side of traditional insurers is evolving and maybe a few perspectives on the opportunities and some of the pain and then there’s being felt so I’ll hand over to you take it away.
Thank you Simon. And hello, everyone can people hear me? Okay, very
Timestamp: 46 min to 47 min
Alicia excellent, so I Simon says I’m going to focus on the organization of the it departments and if we just go to the first slide, please Brooke as the slide suggests. We’re still in the early stages of figuring out how to develop software and by extension how to organize the IT department. So what I’m going to do today is review the approaches we’ve tried see what lessons we’ve learned and then I’ll suggest a Way Forward next slide, please.
In the beginning there was waterfall now people liked waterfall because it was structured requirements analysis design Etc and therefore predictable but there were also drawbacks. It’s slow in that it doesn’t deliver anything of value until the very end of the project. And by the time it does deliver the world is often moved on and the delivered software often no longer fits the need and how many times have you experienced a waterfall project?
Timestamp: 47 min to 48 min
Who’s dashboard shows green every single month until all of a sudden right before the end? It turns red.
So it Department started experimenting with new ways of organizing their work with a focus on quicker more iterative development and the key to these new agile techniques as Mark mentioned earlier was reorganizing both the teams that did the work and the way that the work was done. So instead of the business giving the requirements to it and just hoping that it would deliver on those requirements business and it
folks actually collaborated to build working software and agile worked with its focus on delivering working software in short iterations. It delivered value much more quickly. It flexed more easily to meet changing requirements and ensure as found that productivity increased as well. So that’s all good.
Timestamp: 48 min to 49 min
But it wasn’t perfect. It was for example harder to predict where the software might get to in say 18 months from now and the change in the way work was organized meant people had to learn new skills.
Agile also prioritises working code over documentation and insurance Regulators aren’t always keen on undocumented code. So Along came a new way of organizing to solve these issues what Gartner calls bimodal it next, please.
So bimodal it or to speed as Mark called it earlier to Speed it arrived around 2010. The idea is that agile is indeed a good thing and that insurers should use it but that for some it systems particularly core Legacy systems. It makes sense to use the more measured and predictable water.
Timestamp: 49 min to 50 min
approach so you organize an IT department into to work modes mode one using waterfall for areas that are more predictable and well-understood such as core systems or Legacy systems and then Mo to using agile for exploration experimentation and trying to solve new problems in theory you get the advantages of both approaches without the disadvantages of either now,
Even in just a few years there’s been a lot. There’s been a lot of debate about bimodal it with some claiming. It’s a nonsense some of the key arguments against it are that you can use agile on core systems and even on Legacy systems as well that forcing people to use waterfall is bad for both Recruitment and Retention and some say bimodal is just a fudge.
Timestamp: 50 min to 51 min
End of the day used by people who won’t commit to real change.
At the same time though. Another group has argued that agile itself doesn’t go far enough. They say add it operations people to the development team as well use highly automated tools to get new code into a production quickly and calmly tall devops. The benefits are said to be fewer handoffs reducing the chance for error more stable software and faster rollouts. All of which sounds great, but do be aware of the drawbacks. You need to select.
And use those new automation tools and you need Dynamic infrastructure such as Cloud to get the full benefits and finally The Learning in change effort that we’ve been talking about for much of this webinar is even bigger than it is for a July alone. So it’s not for the faint-hearted.
So we’ve looked at how these new ways of working impact both the organization of work.
Timestamp: 51 min to 52 min
And the organization of teams, but what do they mean for the structure of the it organization more broadly next slide, please?
Here’s a before and after taken from an insurance company on the left is the structure of it just a few years ago. And it’s very traditional as you look through it. You’ll see that all of the terminology is in it speak indeed. There’s no sense that this is an insurer at all. Now this particular insurer had got results from the structure, but it recognized that waterfall was now holding it back and it’s therefore be moving over time to the
in structure on the right
As you can see it’s embraced both agile and devops building cross-functional teams to serve each element of the business is value chain policy claims billing Etc or having their own teams, each of these teams works.
Timestamp: 52 min to 53 min
Hand with the relevant part of the business and also contains people from that part of the business and this maximizes the likelihood of delivering what the business needs when the business needs it but they then struck a balance by providing certain services to those teams on a shared basis. They could have included those Architects and security folk for example within the value chain teams, but they believe that the benefits of consistency and
Nation through sharing outweigh the benefits from dedicating those resources Andhra percent.
Equally, they didn’t have to organize the teams around the businesses value chain. That was a choice they made they could have implemented a model organized by customer group or by Insurance product. For example, they had good reasons for choosing the value chain approach, but those reasons might not apply to your particular insurer as
Timestamp: 53 min to 54 min
Listen to this webinar.
What that tells us is that one size doesn’t fit all next slide, please.
So what’s the right answer for your insurer ultimately in my view? It’s likely to be a model like the one we just looked at but you’ll need to consider the organizational focus of your insurance business first, whether its product oriented focus on customers organized by channels or whatever because you’re development teams should be designed to mirror this
Your specific next steps towards your new structure will depend on three factors firstly your starting point. If you’ve only ever used waterfall, it would be a big stretch to jump straight to the model. We just seen and bimodal or to speed might be a fudge, but it could be just the fudge already for right now.
Timestamp: 54 min to 55 min
Your people if your people are hungry to stretch themselves, you’ll probably be able to go further faster in implementing new models and finally your ambition because changes of this magnitude are as both Pat’s and Mark of said as much about culture and change management as they are about tools and techniques. So without wholehearted commitment from leadership, you’ll likely fail. So my message would be grab yourself some shoes.
Is that fit now and then upgrade them as you grow? Thank you.
Alan thank you very much very clear very eloquent the articulated and I think you’ve done for me as a sort of non it person you’ve made a very complex part of the business seemed relatively easy to understand that I know it’s not but but well done on that a couple of questions for me. So and I think that one of
Timestamp: 55 min to 56 min
Last slides where you compared 20 2010 with 20/20 gets to this but I think a lot of people on the call will recognize what I say here that there’s tends to be quite a lot of the gap between the it and the business in terms of I see not really understanding the business BT business certainly not understanding it. I guess this new model seeks to address that right it brings the team together, but at the moment not many insurers are operating in that new utopic sort of way.
So still a big gap in the moment. Yeah. Absolutely. I think I think you’ve answered your own question there. So I would guess it’s similar to the poll that we just did there absolutely are some insurers who are embracing these techniques who realize that the world has changed that you do need to get the business heavily involved and who are doing this but it is still a relatively small amount and then it’ll vary between country as well. So yeah most insurers.
Timestamp: 56 min to 57 min
At the moment have a large gap it is this case of business does requirements throw them over the fence and hope that at some point they’ll come back again and fit the need which input of fast moving in short it world just isn’t going to happen. Yeah, and on the 2010 view I’ve just registered actually one thing that perhaps is missing as a horizontal there is projects. Now it always struck me as somebody who ran the change function for the insurer for a while.
What why does the change in the project function sit in it 90s that that’s where it is, right and yes a business technology enabled and yet tax running a book. Yeah, I think I think the broad answer to that is that people have grown up to believe that if you want something doing securely and safely and in a structured manner you give it to i t and that has continued into the future because of that attitude then a lot of the project.
what skills are in it and
Timestamp: 57 min to 58 min
Early as somebody said earlier when people experiment with something like agile, they tend to say all let’s try it in it. Now in reality I have used agile absolutely on the business side of programs and projects and it works they’re very well, but it starts with it. This isn’t going to happen forever as thinking early this morning. It’s not so long ago that there was a typing pool because the only people who could type documents were people who were specially trained and sat in a pool a bit like I
I see folks now – no, we’re trusted to type our own and there’s no typing pool. And I think as this ensure Tech becomes far more part of business as usual. We’re going to see the same sort of move. Yeah. No, I agree. And I you know, I’m a big fan of this sort of the sort of variance between projects management and change management and outputs versus outcomes. And of course, well Society folk and projects managers and leaders Within
Timestamp: 58 min to 59 min
I see functions may be very good at producing the widget. They’re typically not as well School tools and skilled in thinking about how to get the value out of the widget, which is ultimately why they wanted the widget in the first place. And of course this requires business engagement and softer skills to be involved in absolutely and to the point of agile what that widget needs to do may change over time, which is why it does have to be a shorter more iterative approach. Yeah. Yeah, very good, right. So I think we probably got a poll question for you as well.
Well or on the back of your your sort of session there. So thank you. So on a scale of 1 to 10 with 10 being very high one low. How big is the knowledge gap between it and business teams that that needs to be addressed and again, you know, just you could be honest here. Give us a sense of how you feel in your own organization will see what the aggregate result looks like. Yeah. I mean, I think we see ad and like you all the
Timestamp: 59 min to 60 min
In different stages of exploration here and the adult the application of agile and I think we see just the other day. We saw great example of a team in a region that we had done a great job of deploying agile. So they were all working in a really good collaborative Speedy way, but of course, they’re in an organization that had a global level still waterfall. So the kind of breaks come on once you get to a certain point so puts these are these things are journeys rightly. They don’t get solved overnight.
Okay, Brooke. Let’s see if we’ve got our got it got some results here, please.
Okay, so around the six seven strongest innate pressing the knowledge on the knowledge Gap. Yeah. Well this is not all time. But yes the wrong side of five I guess right and he any views on this you think it’s probably improved a bit. If we’d ask this question five years ago. Would it have been worse or I think it’s I think it’s improved in that it.
Timestamp: 60 min to 61 min
Used to be clustering around seven, whereas two three four years ago. It might have been clustering around 8 or 9. But seriously, it does rather underline that we have a long way to go way to go down. Yeah, absolutely very good. Right. So if you’d like a conversation with Alan lights be connected up with him, then please let us know and again will will will sort that out tomorrow the next couple of days. So that’s the end of the sort of opening remarks. We’re now going to move into slightly broader QA and kick a few things.
Around for a few minutes before actually handing back to you will share a few updates on TDI announcements and things. I wanted to kick off with a question which I think really touches touches. All of you guys from different perspectives around culture. I’m aren’t you spend a bit of time talking about culture and the need to move the cultures arms and make the water technology where etcetera my question is should the HR folk and ultimately a charm
Timestamp: 61 min to 62 min
He’s be the custodians of culture and the cultural transformation journey, and if they should be why are so few actually actively involved in.
Moving the culture of the business Mark. I’ll I’ll start with you as you led the conversation on culture. Do you have a view on this and the clearly, you know, I’m not well I can answer my own question a little bit. I’m not going to I’m more interested in your views as experiencing. Yes, of course. I’m very biased and I would say absolutely I think HR needs to really take ownership here and also develop its capabilities. That means understanding the air is much better.
and building out capabilities and understanding of data and at six design thinking agile techniques themselves actually to meet the demand of these kind of I’d say future skill sets better, and I do think that we see already some
Timestamp: 62 min to 63 min
Movement in this regards in terms of how to map employing experience how how to actually really track from a data point of view these kind of developments, but it’s early in the process and but the wish from the HR Community I would say to be that custodian is absolutely there. Yeah. Yeah. I mean, I think that maybe some Geographic sort of the variances here a little bit as well because I’ve certainly noticed in my time in Asia that ehrs is traditionally a little bit more Administration focused and
and has evolved more slowly than maybe in some of the more mature markets like the US and and UK for example, but yeah, maybe Pat if you’ve got any perspectives on this u.s. Perspective, excuse me, an ethical is Karai. I think it’s a Char is critically important but in my experience and you know our experience working with clients culture, typically when cultural transformation goes, well, it starts at the top, right?
Timestamp: 63 min to 64 min
Has to be something that leadership has invested in and gets pushed down throughout the organization through action or through mandate, but it’s often up to senior business unit leaders who are working day to day with with large groups from throughout the company to really drive the culture throughout the business. So and HR is really important in helping leadership set the direction understanding the tone of the business, but if those business unit leaders aren’t Baden and aren’t working every day.
To grow that culture and spread throughout their teams. I think it’s difficult to find out there. Yeah, I think yeah, so, you know, no one area. No one person can own it. Right, but I guess you need need some people is to act as well. Someone’s rights as the conductor soon. So make it all sing. Right right Alan anything from you on this very much agree with Pat to be honest. The the cultures should be led by the CEO and the c-suite and then they figure out who Within These sweet should be driving it the hardest.
Timestamp: 64 min to 65 min
As a first amongst equals in that area if the if the HR officer is part of the c-suite fine, then HR if they’re not because the different structure then it can well be somebody else as long as they’re all agreed that they’re all going the same way and who is responsible for driving. Yeah. Yeah. Yeah, very good. Very good staying on the sort of what Pat you you started the conversation a while back on is short X and a sort of relationships and sort of the increasing interconnectivity with
Hers, I guess my next question is really around how far that’s going to go a we likely to see more insurers buying in short X and trying to integrate them into the main business. You think this is a trend that’s going to build Pat. It’s hard to say, it’s something that though we debate pretty often on my team here at KPMG. It really depends on a lot of the the priorities from these carriers, you know, there are quite different across
Timestamp: 65 min to 66 min
Geographies business lines some are more focused on growth. Some of them are focused on efficiency and ensure techs are aligned to each of those puppets as well. So it’s hard to say if we’re going to continue to see if we’re going to see growth in acquisition in the space. I think that we probably need to see a bit more validation of value across business lines to see that but it’s certainly possible. Yeah. I mean, I guess in that not brings its own challenges. And so this is how you get
And people that have a very comfortable with an agile world and making quick decisions and sort of pivoting putting out with some of the nuances of large organizations. Right? Sure last question made it marcaida point this one at you and then just move around is just on this question of bringing in Talent from other Industries. And then you mentioned the example of I think it was Google or you know, one of these tech companies these these sort of environments of the packages of the wages that people work a very different to a
Timestamp: 66 min to 67 min
Insurer, so it’s quite challenging right to convince somebody from that kind of world arguably much more sexy and interesting and dynamic to come into a fairly conservative traditional industry and break a few eggs and make a difference. So what are your thoughts on this? Is it generally quite hard to convince people from you know, technology firms to come across into the traditional boring old Insurance sector or you finding is getting easier.
First of all, I think it’s the integration is still incredible hard. I do think however, there is generally a wider interest in Insurance being a great tool kit for maybe also low-hanging fruit environment where actually the impact from a digital point of view can be really felt with the consumer and therefore also I would say a side of that the celery is increments have reflected also the
Timestamp: 67 min to 68 min
Interest level in getting these kind of let’s say digital superstars in your organization, but that being said, I think I’m more skeptical than before. I think the the the trends have shown that you fare better. If you get somebody who is probably a hybrid type of animal so someone who has been actually deployed in a digital environment and also someone who probably has a background in and regulate
Did environment be that payments be that cards or others these kind of hybrid players. I would say would be still high in demand and probably more effective and longer resilient in this organization and maybe our example from Google.
Very good right now. What I’d like to do in the next couple of minutes is hand over the Hue we had from the beginning founder of TDI actually.
Timestamp: 68 min to 69 min
I said in my opening remarks we’ve realized that we need to as an organization sort of get more involved in this people side of the debate. And and so we’ve got some news to sort of share with people on the call around the world on what are two developments in TDI. So my pleasure to hand over to to Hugh for a couple of minutes just to sort of bring us up to date on where the business is here.
Yeah, thank you Simon and sort of thank you to our panelists and everyone who’s been listening in contributing to this debate on on Odie sure I think is fascinating and the whole issue Around Talent Management, and I guess one of my observations and sort of listening to Alan what you were saying as well just that I guess more the tech level. I mean one of one of my observations is we’re moving into a world where technology is much more sort of
opponent orientated and I think one of the challenges here is to
Timestamp: 69 min to 70 min
To get people who could understand how to configure technology and then bring that into our businesses as well. And that for me seems quite a new skill set. We’re traditionally we have been very waterfall orientated you get into this environment of how do you bring technology closer to the business? So that score of seven that we saw in the pole I think is one of those things that we as an industry need to really work very hard on and I think there is a skills this show a Qui Tam.
Micro level in terms of how we introduce technology and bring technology sort of much closer to the business so that the business starts to own more and more this is it becomes more componentized and that was one of my thoughts of that sort of micro level, I guess at the talent perspective and I just wanted to sell you everyone a little bit about what we’re doing from a knowledge and education perspective over the last seven years. We’ve built this platform of knowledge on
Timestamp: 70 min to 71 min
Insurance great Community let’s engage in this topic we’ve realized that there’s an opportunity to get into the education space and we’re launching and have launched what we’re calling the world’s first mini MBA and professional qualification on digital insurance. I want to just share this short 60 second video. So Brooke if we can see the video works, that would be cool.
We’re all struggling to keep up to speed in this Digital World. This is even more true and we add in the complexities of the insurance industry. I’m really pleased to introduce ADI the world’s first mini MBA and professional qualification on digital Insurance ADI is brought to you by the digital insurer, which has the world’s largest digital Insurance knowledge base of the community of more than 35,000 members ADI has been
designed to give you the edge and
Timestamp: 71 min to 72 min
Into the future of insurance with access to knowledge and a like-minded global Professional Network for the rest of your career.
So I hope this is something that the industry will get behind. We’re very pleased that number of insurers already supporting this so we’re out to launch early next year and I guess watch this space a little bit. We’re really very very committed to this and our early adopters will give us some great feedback as we go forward, but we’re looking to bring in a lot of different subject matter experts to help when this subject to to life and I guess
Timestamp: 72 min to 73 min
This objective to really sort of skill up both sides of the organization. So how does technology become more business aware how has business become more technology aware so that we can all talk to each other better as we go forward and obviously be part of a lifelong Community as well. So that’s what we’re doing there. I think we got a little poll on this. So if you’re interested in it, just let us know. Let me just pull that up Brooke. That will be great.
And we’ll send you a bit more information and as we go forward.
I think if we go to the next slide just to sort of wrap up. We’ve got a lot going on in the event space at the moment. So I wanted to share with you some updates on various different events.
Timestamp: 73 min to 74 min
We’ve got going so those of you who know us. Well, we do our online life festevents. We’ve got life s 2019 coming up. We’ve modified the format slightly so crazy that we are we’ve got a an event on the 21st of November, which is kind of the LeMans event for online. We’ve got I think about ten or twelve sessions over the course of 24 hours starting.
NG in starting in Asia time and then I think ending in North America time and will be issuing a lot there. So sign up to those that you see fit and obviously those that you can’t attend you can look at the recordings as well. But a few of us will be trying to keep our eyes open for 24 hours to help pull that off and then we’ve got our Awards as well. So we’re just about to announce the award finalist for the life s towards and among the 7th of November.
Timestamp: 74 min to 75 min
We’ve got the regional finals as well. So that’s one event big event coming up the next one which will really pleased about as well. And hopefully you’ve picked up on is we’re partnering with inshore techconnect. So if you like the world’s largest insurer Tech event, which has I guess more than 6,000 people now is in its fourth year next month. It’s coming over to Asia.
Need to Singapore in early June and we’re doing our bit to help make sure that that’s successful. So we will be folding in our our life s towards for that event. And also making sure that some of the content from that event is more broadly shared around the community and then we’ve got a couple more events as well. So if we go to the next slide we’re involved in I clam I claim is a very well established organization.
Timestamp: 75 min to 76 min
1901 and it represents the medical insurance community. So some of the Specialists they get involved in underwriting and claims. They meet every three years. This is the first of it first time they’ve been in Asia for 30 years. So it’s being held in Mumbai in November and we’re helping to run a couple of sessions there around relevant aspects of Technology impacting claims and underwriting. So really pleased to be part of that.
Event as well and then last but not least. We have the next in our KPMG sponsored a series of webinars and that scheduled for the 9th of October and that one’s going to be on optimizing the value chain. So what are the Technologies out there that help us to optimize the value chain in insurance. So that’s if we just go to the last slide. If you need to contact any of the panelists here are their email addresses. I just want to thank
Timestamp: 76 min to 77 min
Once again all the panelists it’s been a really interesting discussion really interesting topic. I think we’re going to take this forward on a more regular basis. It’s definitely Simon said earlier an area that we haven’t spent enough time on and it’s an area that is absolutely critical to you know, how we transform Insurance together. So thank you Simon as well for moderating the then I don’t know if you want to say a few final words before we end really just to say yeah that TDI side busy times you so greatly
R the announcements and just really to reiterate the thanks to all our panelists part mark our really appreciate the patience. You’ll support in helping make it a really good session bringing some different perspectives for thank you and obviously the thank will KPMG from growing sponsorship and and everybody on the on the webinar. I always say a these time is money particular in Hong Kong. So we do appreciate that. The time spent is an investment. So help people find it.
Timestamp: 77 min to 78 min
While that be recording from this so you can access that other yourself and your colleagues after it was next few days. So yeah here I think we’re done. Thanks again to everybody will wrap wrap the event here and look forward to more discussions going forward. Thanks, everyone.