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Webinar ID: 226-942-550
Join us for this webinar and listen to an experienced, global panel of insurance professionals present, discuss and review recently launched point of View report “ Industry Warning: Digital Tipping point is approaching faster than expected” that highlights the need for cultural change and up skilling / re skilling for as many as possible by investment in L&D in Digital Insurance.
This is sure to be a popular webinar so register early to guarantee your place.
This webinar should be of value and interest to all those who want to find out how to increase L&D on digital insurance, source vocation led virtual program and build an internal business case for C-Suite approval.
By participating live you can help to shape the panel questions and also participate in our live poll. Registered participants who are unable to attend will be emailed a link to the recording of the webinar.
Timestamp: 0 min to 1 min
Hi everyone, and I’m Hugh Terry from the digital insurer and welcome today to today’s webinar, which is on putting people skills and cultural change at the heart of digital transformation of the insurance industry. We’ve got a fantastic panel today. I’m really looking forward to this discussion. If you look at the TDI logo, you’ll see the DNA and the zeros and ones and
Historically, we spent quite a lot of time talking about technology increasingly and always we believe though that people at the heart of digital transformation. So, today’s a very good opportunity to talk about that as well. So, Brooke have been going to the next slide just a little disclaimer side. I guess we’re growing up a little bit and we’re going to be talking today in our own individual capacity. So
Timestamp: 1 min to 2 min
If we go to the next slide very pleased that to welcome Sara Roberts. She’s an industry veteran Asia Asia x City now running as an independent consultant the lady from the TDI team who’s the TDI Academy director Debbie head of OD and talent at Sun Life in Asia and then sort of my fellow founder Simon Phipps as well. We’ve got a great agenda.
So welcome everyone to the panel. What we going to do today is hopefully give you 60 Minutes of entertainment around this topic. Please do participate in the polls and what three polls today. We’ve got some Q&A as well. If you go back to the last slide Brooke just in terms of presentation order Simon’s going to kick it off Sara will follow up with some out of industry, but not so far out of the industry Experience open finals Financial.
Timestamp: 2 min to 3 min
This is more broadly. Debbie’s going to give us the inside view from an insurance perspective. And then Malini is going to give us a little bit more on the l n d side as well. We’re running 60 minutes. We’ll try and get a lot of time for QA if we can as well and then finalize just with a few TDI updates as we usually do so, that’s what we’ve got. I’m going to get out the way and I’m going to hand over straight away to Simon. I think you’re probably all familiar.
Familiar with zoom now. So, the Q&A area where you can put your questions and chat as well. So, Simon tell us all about the digital Tipping Point and what you see. Yeah. Thank you and good morning. Good afternoon good evening everybody and just picking up on cues introduction there ran entertainment. I mean, I guess I hope it is entertaining but there’s a serious point. This is real because people are a very key part of business and the world as we know. So, we issue.
Timestamp: 3 min to 4 min
Warning a few days ago to the insurance industry. The world is approaching digital Tipping Point and most insurers arm ready. We put it out as a point of view paper about four weeks ago now and it I think it’s landed really well and its really kind of cools the few people to think a little bit more about where they are in their transformation Journeys in the role that people play and that was deliberate. So, we thought we’d start this discussion with just a little bit of a refresh sit for those who haven’t read that article.
And for those who have just again just to tune in so he can flick on a slide please. So really this this this warning that we put out and we don’t often put out warnings to the whole Global industry was that the digital Tipping Point is approaching insurers faster than expected and therefore executive teams must urgently accelerate their transformation efforts. And one of the things we wanted to get out of this point of view paper was frankly to help the HR communities and digital leaders in
Timestamp: 4 min to 5 min
Making more happen to do with people around digital transformation and I’ll explain why so if we just click on a slide and obviously you can get access to the paper off our site if you’re interested, but what this this this chart shows in front of us is quite a quite a well-known sort of bell curve. I guess of how consumers adopt things over time and I guess you’ve got as a market sort of matures you start with innovators in the market then earlier doctors then early majority.
Garrity late majority language that applies a consumer individual level also at a company level and when we sort of looking at what the digital adjusted option from a consumer point of view, how view was that the world was kind of a couple of years away from getting to what we call Tipping Point The Tipping Point is when the majority of people start using in this case digital so our view was that actually the world Pre-K covid-19 had a couple of years before the world was going to be
Timestamp: 5 min to 6 min
At that mass adoption stage, but actually the world is just completely changed in the last three months as we all know, I think in terms of digital firstly there’s wider usage for People Like Us on there called today. We’re doing more remote working. We’re doing more remote purchasing remote servicing. We’re using social and cons like Zoom a lot more and more Tech non-Tech firms are sort of encouraging us to engage with them through digital. So, I think there’s a group of people in the world that are already using now,
It’ll more than they were before but there’s also a whole bunch of new people that are getting into digital for the first time very quickly. And I was just saying to my sort of fellow panelists before we started my parents are now online shopping for the first time ever. So elderly people have been drawn into digital around the world younger kids through education in schools being closed Etc getting more into digital the rich the poor Emerging Markets all around us more people are getting involved.
Timestamp: 6 min to 7 min
In digital and actually we think that the this sort of expansion and acceleration of Engagement in digital is going to mean that the Tipping Point is going to hit this year not in a couple of years time and if you just press the next sort of slide your bill, please Brooke, there’s lots of evidence were all seeing now in the media around how digital is just getting more and more involved in our daily lives, and I’m sure I don’t need to go into that but that then calls this a thing. Well, what does this mean for insurance? So
If we move on a slide.
Please brook. Insurance is a bit of a lag. I’ve when it comes to digital relative to the rest of the world. So, if you remember where we have the rest of the world positions as 2020 blue Christ are pre-crisis that blue dots, we saw Insurance being further down the curve. So, ensure as less ready really to less invested in digital than other sectors. Now what’s happened I guess is
Timestamp: 7 min to 8 min
The blue dot which is non-insurance is accelerated past Tipping Point or will have done by the end of this year and that just means the gap between insurance and the rest of the world is just widens. So, this is a massive issue potentially for insurance because we’ve just kind of just gone from two years between us and the rest of the world to four years unless we do something about it. So, the message we put out to ensure as was, you know, you’ve got to take 18 to 24 months off of your digital transformation roadmap.
You’re just going to stand still and the big concern we’ve got is actually a lot of insurers are going to stand still because they’re focused very heavily on keeping the lights on which we understand is important. It’s natural to think about stopping discretionary spend on things like projects. It’s natural to sort of defer thinking about strategy and resetting strategy with everything going on. But the big issue there is if insurers do standstill the Gap widens. Actually, they’re going to leave themselves very
Timestamp: 8 min to 9 min
Herbal to new entrants eating their lunch and or being acquired when we come out of this crisis. So quite a call to action, I think and I’m pleased to say that some of the executive teams around the region of sort of responded to this and we’ve had some good chat with them. We were also pleased to see that quite quickly after this article went out. It was picked up globally by our friends at KPMG. So, Brooke if you just flick on a slide, please we’re just run a quick clip from the global head of insurance for KPMG you go back one.
Or if we take yeah, this one. Thanks.
Talk now about what’s coming because I as I see it ensures are already starting to talk about the future as it relates to covid-19 and what we’ve learned. I want to bring you over to graphic right over here. This graphic was done by TDI the digital insurer and I think it really articulates what’s happening right now in the digital Journeys. So, before covid-19 Insurance reading and sure.
Timestamp: 9 min to 10 min
Readiness was around here are generally as an industry still on the rise and the consumers were basically here there was a gap but not that wide but as covid-19 is really accelerated where the consumer expectations are. We’re starting to reach a Tipping Point and I think that the TDI point of view here around digital tipping the digital Tipping Point that executive teams must really start to urgently accelerate their transformation efforts and we believe that that’s true.
Yeah, let me just pick up from somebody in the audience at your oh, thank you for this point to just clarify what we mean by digital. So, at the digital insurer, we don’t look at digital as just being selling direct right or having a website. We look at digital as being technology deployed in all parts of the business servicing claims underwriting Finance HR in everybody’s daily lives to help improve the efficiency and experience of getting things done in the
Timestamp: 10 min to 11 min
– okay, so it’s in that regard that we say ensure as a way behind the curve is not just about being able to run a zoom meeting anymore or being able to buy a car or car insurance online. We’re talking about getting digital into the fabric of an insurance company. So that was quite an encouraging I guess to see a global UPS, you know big organization picking up on this message and then uninterestingly Microsoft just last week came out with their view, which was actually that their churches. They think that we just seen two years of
Affirmation in the broader Global sense than then in the last two months. So, we’ve again come really compressed what’s going on in the world which reinforces our point that insurers really need to step up and I’m sure some of you will have seen next slide, please Brooke these sorts of cartoons that have been popping up ironically pointing out. There’s a bit of a shame that digital transformation is finally going to happen. And the thing that’s made it happen is a global pandemic not the leadership teams around the world.
Timestamp: 11 min to 12 min
However, has a leadership teams reactors are obviously what makes the difference so next slide, please you Brooke. So, I guess the question with that background in mind is if insurers need to step up. What should they do? And I guess our view is they need to accelerate digital engagement and cultural transformation. And why do we say that? Why is so much of what we think needs to happen people related next slide, please. Well firstly there’s plenty of evidence. Now that actually skill gaps are growing in all companies pretty much in all Industries.
This trees between what’s needed and what’s there when it comes to digital so there is a skill Gap problem before we even start especially an insurance when it comes to understanding technology outside of the technology teams next slide, please but what goes hand in hand with that is really clear evidence that actually it’s only digital transformation initiatives that focus on culture as well the actually result in positive change. So, if you
Timestamp: 12 min to 13 min
Engage your people in the journey and get them involved in digital. Your digital transformation efforts are likely to fall on Stony ground and there’s more evidence of that and we put some of this in the point of view article next slide, please bro, which actually shows in research from McKinsey on the left hand side of this this slide just looking at which factors that have make the most impact on digital transformation. And actually, if you look at the number that are there that mention people or management team
in senior managers leaders, it’s well over half the things that you can do that make a biggest impact in digital transformation are to do with people and we thought we would test that on a webinar a few weeks ago in Hong Kong. We have four or five hundred people on and we asked the question to the everybody, you know to what extent do you think that you would benefit and your company would benefit from more support in upskilling on things to do with digital and we have ninety five percent of people saying yeah,
Timestamp: 13 min to 14 min
We need more of this. So interesting background lot of proof points on the importance of and the need for more investment in the people side of digital transformation. And we thought we’d visualize that and just as I move to a wrap up with the next slide and you might need to just press this twice so that the chart on the right starts moving as well. Yeah. So, this is actually a simulation to do with the coronavirus and it shows on the left-hand side what happens if you use a containment strategy and self-isolate,
And on the right-hand side what happens if you don’t and you can see on the right-hand side. There are actually lots of people get infected very quickly on the left-hand side. Not many but this in a reverse sense is the challenge for digital if you keep digital just in the hands and the domain of a few people digital specialist and it folk then the rest of the business is never really going to understand digital and be enthusiastic about it. But if you immerse more people at an earlier stage in digital then you have the
Timestamp: 14 min to 15 min
In fact, the whole business with the digital bug and ultimately that’s what acts as a catalyst for accelerating cultural change and making transformation happen. So that’s it from me Hugh. I just wanted to start with that positioning. I hope it’s been helpful and look forward to getting into some discussion of it. Later.
Thank you, Simon, and I look forward to your contributions in the panel. I think there is a one or two questions already come in in Whitewater type and answer as well that being directed towards you. So, I’ll keep you busy on that in the meantime, but I’d like to welcome now Roberts and I’ve already introduced you so welcome to this webinar and we’re really looking forward to your perspectives and your point of view on this topic.
That’s great you thank you very much and really great to kind of continue on from the comment that Simon was making.
Timestamp: 15 min to 16 min
Certainly. What I’ll be talking about is an approach that I took in city as an organization, which was very much focused on the vital many not the vital few and really engaging all of our employees in the digital transformation. So, my focus here is really around the people skills the culture change and the challenge that I was given around using learning as an enabler to really drive digital transformation. So, what I’ll cover in the kind of 7 minutes or so that I have with you is really around the framework.
On digital Fitness and then I’ll talk to you a little bit about the fitness challenge that I got my CEO and then how we kind of responded to that some of the outcomes and the insights that we learnt and then time permitting just a very quick curve Fitness pole fitness test or a pole test. So, Brooke next slide, please.
So, BCG is digital Fitness modeling insurance. I like this because it’s a really good.
Timestamp: 16 min to 17 min
Of summary and I’ve kind of positioned it as the kind of the what and the how and if you look at the what you know, it’s everything that you know, you can see is kind of focused on in terms of the future for insurance and it’s really about you can kind of summarize it in terms of its forward-looking. It’s very customer Centric and it’s really around kind of anytime anywhere access to services. So, it’s what your what your customers want when they want it where they want it. So that’s really the kind of the overarching game and then if you look on the right-hand side
and side which is the kind of the how and I think it’s great that in terms of the Five Pillars that BCG have that it incorporates the employee culture element and if you look at the Five Pillars and those 22 Key capabilities what’s behind all of them are some of the key skills that all employees need to do to develop to be part of that digital transformation. And so, you know a lot of work that I’ve done both in my court.
Timestamp: 17 min to 18 min
Kind of experience but also in Consulting is really around how to get leaders and organizations kind of fit for the future and fit for the transformation. So, let me share with you the challenge that the CEO kind of gave to me. So, if we go to the next slide, please
So, what was the challenges that I was given when I was a regional head of talent and learning for City in Asia pack. Well, you see on the right-hand side the Challenge from our Asia. CEO was really around. How can learning be a key driver for his key in P imperatives and that was really around driving sustainable growth. It was about how we can help accelerate digital transformation and in doing so really build the workforce of the future. So that was the challenge that was laid to me and me
team if you look on the left-hand side the person kind of graphic around, you know, meet the modern learner, but that’s also what we had to take into consideration as we were developing.
Timestamp: 18 min to 19 min
Intervention and the solution that would help to meet our CEOs needs and whilst you won’t be able to see the detail here. I think you can all kind of relate to it is that you know kind of most of us are very overwhelmed with everything. It’s coming at us from all kind of all angles. So, we also had to think about how can we engage our employees in the way that doesn’t kind of overwhelm them even further but actually makes them really kind of central to the overall transformation. So, what we did in terms of and
Verbal, we launched an initiative called my career.
I’m first and foremost. This was really about culture change. What we were doing here was whilst we had a digital learning platform. We had curated content and curated experience is what we were really doing is around as I mentioned the vital many, we were putting employees in the driving seat of their own career. They were helping us to curate content and experiences that were relevant to them and their needs
Timestamp: 19 min to 20 min
And the way that we did that was really through kind of leveraging a number of things here that you can see on the right-hand side. So, we leveraged an existing collaborate platform. And again, this platform had to reach the 62,000 employees. We had in the region across 15 countries. So, it needed to have the kind of infrastructure to be able to support that we curated relevant content very employee Centric. So, for us this was like design thinking in action, our employees were really kind of keep creating content that was
Relevant for their needs we integrated that into work and that’s incredibly important because gain if you think about people being overwhelmed, you know, we didn’t want this learning platform to be something that was a Don it really needed to be something that they could take translate and then actually integrated into the work that they were doing. We also shared career stories, which was very aspirational and that helped as a driver in terms of helping people to drive and develop some of those skills, too.
Timestamp: 20 min to 21 min
Ensure that they are part of the workforce of the future. We linked employees to internal opportunities, which really kind of opened up the marketplace and Mobility as I’m sure you know also helps to drive transformation. We engaged our middle managers who can often be kind of lost out in some of these or left out of some of these initiatives and then be relentlessly told the success of the story communicate so that people kind of see the successes in terms of their engagement in the overall transformation.
So, if we can go to the next slide and just talk a little bit about some of the outcomes some of the benefits and maybe if I can just share with you some of the key insights. So as I mentioned whilst CEO kind of gave us the broad challenge fundamentally, it was about the culture shift and that certainly was one of the key outcomes that we achieved really was kind of employees going from a situation where you know, they felt the content was being pushed at them to them being in the centre.
Timestamp: 21 min to 22 min
Any pulling kind of content resources and engaging with their peers their managers industry experts in a way that was hugely relevant and appropriate for their needs. So, it really was around kind of what they wanted when they wanted where they wanted and how they wanted it. Everything. We did was mobile enabled to kind of ensure that we really would were helping employees to drive transformation in terms of the second task of the CEO kind of accelerating. So, the digital quotient accelerating digital
Information we certainly achieved that by kind of Driving Learning into the flow of work. We leverage gamification tools some of our businesses used a platform for their fintech festivals. We used the platform to help to kind of drive digital Discovery. So, increasing skills and capability it became a platform for open sharing. So rather than being kind of Silo driven where everyone kept their own skills and knowledge to themselves.
Timestamp: 22 min to 23 min
Platform enabled that kind of open sharing and we also gained some hidden benefits things that perhaps we didn’t kind of set out to achieve. But when our survey we increased overall Employee Engagement, the next two areas were very important for us actually around career mobility and hiring I mentioned that it kind of opened up the kind of career marketplaces the organization and we were able to see increases and career Mobility as people were able to kind of see
opportunities for themselves more clearly in the organization. Then we were able to actually kind of promote grow and develop more people through the internal kind of mobility and career moves rather than having to always go externally and we were able to kind of help improve some of the retention rate. So, the benefits kind of went beyond the kind of initial starting point, but if I can kind of summarize it in terms of some of the kind of key insights and
Timestamp: 23 min to 24 min
Take aways in in terms of kind of getting fit for the challenge that we had ahead of us. I think it really was around kind of winning that learning races it were and what really made it work for us was first and foremost around relevance and making sure that what we were delivering was totally relevant to the employees again, I mentioned the what they want where they want when they want and how they want. The accessibility was essentially in terms of making sure that
employees can get access not just to content we had very rich content will be using degreed which is a Content aggregator, but over and above content it was around then taking that and engaging with peers and partners and using the engagement and a skills and capability to drive business outcomes, which is the kind of the final point also around, you know, enhanced collaboration and engagement and I think that was the real kind of winner for us. It opened up.
Timestamp: 24 min to 25 min
Organization able enabled employees to really see kind of what was out there in terms of resources that help them to achieve their overall kind of business outcomes and that in turn helped us to be and use learning as an enabler to drive sustainable growth the overall digital transformation and then helping employees to develop skills that were much more future-proof.
So, if we go to the next slide Brooke, I mentioned a little bit of a fitness test for you. So perhaps if we could kind of go into a poll question and if you can use your kind of voting buttons if we can use that so really the question is how fit to do you think your company is to build new skills required for digital transformation in insurance. So, if you can click on
On one of the options here. So, do you think your
Timestamp: 25 min to 26 min
Your fitness challenge you’ve got a will but perhaps not the plan as yet moderate Fitness. Maybe you know what you have to do and you’re making progress or are you as your organization super-fit ready for this print including hurdles along the way?
Yeah, thank you for the presentation and just whilst that vote is coming in. Just one quick question. It was really interesting hearing about that transformation Journey. What was the sort of timeline on that transformation as well? Maybe you could just share that. Yeah sure and they are CEO kind of was very generously said and I kind of want one solution today which was generous because normally it was yesterday, but it took us about two months to kind of set up the kind of initial offering I have.
To say then another kind of four months or so going through some of the Regulatory and compliance requirements. So, it’s kind of a six-month lead time from asked to formal launch.
Timestamp: 26 min to 27 min
And then it was an ongoing initiative because it was culture change. It wasn’t about a program. It was really about kind of embedding a very different mindset and practice into the organization. Yeah, so six months to get something up and running and then awesome. Yeah, right. We’ll see the poll results. What’s your thoughts on those sir? Before we move on well kind of encouraging, I have to say you with a 64% in that kind of moderate Fitness stage, which is great the 30% I think, you know don’t get despondent, I think.
We’re covering here and what you have access to will help you to map that that road map and then the six percent in super fit fantastically you’re the group that we can learn from. Yeah, so, please share your experience and your question, right or wrong. That would be great. Good. Well, thank you and we’ll move on now and it’s a real pleasure to hand over to Debbie. So, Debbie welcome and we’re really looking forward to your insights and experience that you bring from an
Timestamp: 27 min to 28 min
thanks to you and thanks to TDI. It’s great to be here and sharing what I can share. I hope some of it is useful briefly about Sun Life if Brooke if you can move to the next one, we one of the largest insurers in and financial services sent companies in North America. We are growing in Asia. So, we really beefing up some of the things we’re doing around.
Asia and if you go to the next slide Brooke this, I’m loving the topic of this conference because really why we are saying that our purpose is we client obsessed but we are also employee obsessed. So, some of the things I’m going to talk about is what we’ve been
Timestamp: 28 min to 29 min
As we embark on our journey and some of the things we’ve been doing over the last couple of years as well.
I think you know assignment was making the point insurance industry is behind in in were technically and in the digital Enterprise space. So, we like everyone else are also on a journey. So, this is not to say that we’ve mailed everything but we’ve been having some thoughts around what we need to do differently and we’re focusing of course, you know a set of point.
on culture, but before that
Are we capable? So, you know, I wanted to briefly talk to you about what we’re doing around our capability because that is going to drive how we think and how we position people to think about culture.
Timestamp: 29 min to 30 min
And then how we position to tell people to think about what they need to do so culturally defining the behaviours we expect to see and aligning the transformational journey to it on the capability side. How are we creating Learning Journey is for different employee segments the leaders the manager of the particular practitioners, the general teams the different functions, you know, pointed out that people learn in different.
ways, but they also are differently motivated and they are different in different Generations how we thinking about that and in ways that are engaging reinforcing and delivering, you know, short medium and long-term outcomes how we thinking about re-skilling and upskilling people and for all HR practitioners and also for leaders to understand capacity. What who are we hiring and how we
Timestamp: 30 min to 31 min
Defying what new Talent we need to fit into the new roles that is going to support the digital Enterprise transformation from an HR perspective. How are we understanding and leveraging the data that we have to close to understand our talent current Talent are gaps and what we need to do to create an inclusive environment. I think this is where you will see D&I really coming to its own into its own digit diversity and inclusion.
Because we need to create really truly inclusive environments to attract and retain new and diverse talent that may not actually come from the insurance industry the kind of advances. We are seeing calls for a different mindset calls for different ways of dealing and accessing data and understanding customers that we may not see, you know in generally in
Timestamp: 31 min to 32 min
inch or a mentor has
so all of this underscores the role that both learning and culture and the leadership team plays in transformation from the people aspect of it because business is driven by behaviours and people and you know, that really is right at the bottom of everything Brooke if you could go to the next slide, please.
So, I came up with this this the three p’s of people. Although just has to of perspectives positivity and performance when you think of the people Journey that you have to go on so
On perspectives, I think leaders see, you know, they come up with great strategy and wanted.
Timestamp: 32 min to 33 min
Driven down and they believe that middle manager. Somehow are going to Cascade that strategy that may not always happen. So, sharing the vision and what we’re trying to achieve and align people to is so critically important. It’s not just I think no company is unique in this that people despite their best intentions tend to work in silos or across functions or geographies, but there is enormous part in
walking lockstep and I think this is critical and getting people to see that perspective. The other one is, you know, the digital Enterprise we see clients as Hazard is everything to us, right? We are client obsessed and so we are mapping the client Journey. We understand what the client wants and we are tailoring products to the client we need to do.
Timestamp: 33 min to 34 min
We are doing the same thing with our employees.
So, we need to have feedback loops and think about employees how they learn who they are create employee personas where they are in their level of thinking their Ambitions and create learning Journeys that is going to deliver an experience for them. And I think that’s the stickiness of that experience will determine how effective a transformation is the seeking and giving feedback mechanisms. And Cadence is to
ask and analyse and address feedback. We have everybody most companies at least have pulse surveys, you know, 360 feedbacks and so on back to build that into a how we manage employees and teams will I think become quite critical and then leverage that data and so again that becomes digital to and you know, as is building a culture of mentoring and coaching
Timestamp: 34 min to 35 min
Into a leader so you can see that sharing perspectives is you know; you have the corporate perspective. You’re the employee perspective and then you have the managers also sharing their perspectives from positivity. I increasingly it’s been shown that this is a key leadership trait to see to have a vision and be positive and be optimistic that the vision can be fulfilled and transfer that a you know,
In an agile world, we talked about most viable product in incremental achievements and testing and learning failing fast going back to the drawing board and so on but in a more traditional mindset, we want everything to be perfect before we embark on a journey. So, I think it would be a bit of it’s a bit of a shock for leaders to understand that you can actually just start but that takes a new demand in terms of how they are.
Timestamp: 35 min to 36 min
The positivity their trust their level of hands off is in the fuel. So, tolerating failure Taking Chances. It needs great delegation trust and creating that psychologically safe space manages these managers need to enable their teams and look at what can be done to reschedule an upscale and create opportunities that also takes positivity we tend to
to We tend to watch for things that go wrong that needs to shift. I we need to start looking for the things that are going right and stating, you know, defining what good looks and then recognizing it and reinforcing it. So, all of this really puts the positivity back into people because I don’t know if we can shift mindsets.
Timestamp: 36 min to 37 min
In a Culture of Fear this also Links, of course to the inclusivity and how we bring people into the team.
And then of course on the performance side, there’s a lot of cynicism around. You know, Performance Management. Does it work? Is it a waste of time do ratings work? But there are some things that I have seen really work over them, you know my past long career in hr and the first is you know, absolute Clarity around expectations what needs to happen by whom and when often the accountabilities are not defined and
The last sort of where it is a business is going to change a lot. You know, we can’t we can’t really tell people what you know what they need to deliver. But actually, if you don’t do that, then you can’t manage it. So also hard-nosed business people don’t want to describe behaviours that they need to see changed but
Timestamp: 37 min to 38 min
When you can describe what needs to happen and how people need to act we don’t really care how they think about how they need to act then you can tell whether or not it’s happened and sometimes people need to act differently for something else to happen within the company or basically Daniel’s. He’s a Performance Management Guru. He said business is behaviours. So, for change to happen people may need to be seen to be doing what will lead to the next.
Depth and the next outcomes and that Clarity is very important in a digital world with access to so much information and access to things like glass dough and read it and feedback about companies fairness and consequences is really critical.
But this takes a lot of manager time and sometimes people Grudge that to sit back and think how do I read?
Timestamp: 38 min to 39 min
It was good. Behaviours are good outcomes. And how do I what do I do to deal with it immediately when things don’t happen, so I’m not sure if you’ve heard of the picnic concept, but it’s positive immediate certain negative immediate certain and these people typically think of consequences as always being negative. I go back to the positivity. And once you define what needs to happen, you can think about how you gamify it how you make it exciting how
Now you see it in action and work you’re doing to build those consequences around it. And you know, then finally we are managing our people in yoga in a waterfall sort of way very hierarchical way. We believe that you know, they are our teams and that’s how we manage them as the world changes, you’re talking about gigs. You’re talking about agile teams. You’re talking about people.
Timestamp: 39 min to 40 min
You may manage but we may be wilting in a different team. So being able to flex your management style to work with both traditional and agile teams and then building in feedback loops becomes quite important. So, managers who actually can Flex their style and create all-embracing inclusive teams are the ones that are going to be successful. It’s back again to people because
If you can’t motivate and get the trust from people, it’s going to be difficult to change and transform in your organization’s when you look at what’s really important in a digital world. It’s and as things get automated as you have bought then robots and Ai and all of it. It’s how teams work together how they
Timestamp: 40 min to 41 min
Date and how they collaborate together that really is going to become important and then the only way you can understand this is bye-bye feedback.
If you’re not directly managing them, so my last slide is some of some examples and some of the things we are doing at Sun Life is we are designing different learning Journeys for employee personas. We starting off in as a group. There’s a lot of focus on the agile teams and how we build those teams. But we also focusing on what we’re doing for leadership team.
action occurs in general employees embedding feedback loops into our hrms system where people can more frequently get feedback from different parties Reinventing How We Do Performance Management to cater to
Timestamp: 41 min to 42 min
The new world of management and where hierarchies are being disrupted. I think Sara mentioned, you know and internal opportunity marketplaces similar thing is happening. So, we’re encouraging people to update their skills. So, when you have new rules that come up, we look for the skills and you know to match them. Hopefully we will end up like a LinkedIn where you get, you know, you are a match.
for this job, would you consider applying for it that again requires a shift in how leader stink of their teams sometimes leaders are protective of their team’s succession planning approach changing from role to cool where people have parents for example, and we also thinking of employee generated learning so that’s why you away.
Timestamp: 42 min to 43 min
Engaging senior people senior leaders who may not be people eaters, but very great subject matter experts and keeping them involved in updating and protecting the knowledge in the company and I’m sure many of us have the same thing. We use workplace Bush sharing where we want to empower and get people to talk about their transformational journey and the things they did differently. So, I hope this was helpful. It’s may have gone over eight minutes and so on.
Positivity but I think that from an HR perspective in putting people back in seeing them as I don’t see how you cannot as absolutely key to business transformation and how they work together. So, thank you for listening. Yeah. Thank you, Debbie and really interesting listening, to lots and lots of things we could discuss or I think we’re going a bit short on time. But then what
Timestamp: 43 min to 44 min
You see is a question for you in the Q&A area. If you could look at that Debbie and answer may be directly and I think Sara you’ve got one as well. So, you can pick that up. That would be great Malini. Welcome. If you can give an overview of the TDI Academy, I think that would be fantastic. Yeah. Thanks to you so sorry. Sorry, Karen Hugh tell me should I answer this or just type the answer if you could type the arms. All right. Thank you. Sorry.
That’s the work.
Okay. So yes, I just wanted to spend a few minutes on this final session of the webinars of going through what tdi’s L&D sort of capability is if you like and it’s something that we’ve just recently launched. So, I’m just going to spend a few minutes going through that. I’m going to we’re going to play a video as well which in a few minutes which sort of just summarizes what the academy is and sort of gives you a little bit of a
Timestamp: 44 min to 45 min
our into actually what some of the content is as well and how it looks but I think one of the key things, you know that all the panelists of have spoken about today and it’s you know, it’s a recurring theme within the case studies and also Simon mentioned it is this thing around, you know, sort of ingraining people and you know, it’s within digital transformation initiatives and sort of moving that from what is currently
now still within sort of specialist teams and then trying to move that to more broadly within the business and we feel that that’s really key. And I think I was probably a little bit optimistic when I’m when I wrote this headline on CEOs want to board and digital transformation to include as many people as possible. I think they do, you know, whether they are actually sort of doing that or not. I guess is it remains a question to be to be debated but certainly are
Timestamp: 45 min to 46 min
Active within tdi is that’s what we want to happen. And we do want to try and enable that shift from being that digital skills are within just specialist teams and move it more broadly to what Simon was saying to, you know across the organization and I guess the other thing that we notice and we this was before, you know, all the pandemic took place as well. So, we realized that there was a kind of a gap if you like from a people perspective.
We also as part of the digital insurer, you know realized that the technology new technology new digital chat Technologies were accelerating as well. And you know, some of the requirements to understand what these Technologies do particularly with in insurance. No, but we’re lacking within we’re lacking in terms of skill sets within organizations. So, what we wanted to do to address these gaps was
Timestamp: 46 min to 47 min
Build this L&D capability and Brooke if you go onto the next slide, please so what we’ve recently launched is the TDI Academy and we’ve got three programs running at the moment. We’ve got an ADI program which you can see in the middle in in Black which is live and we launched that acts in earlier this year. We’ve got a certificate in digital insurance, which is the blue one at the bottom, which is a
a hundred percent virtual online certification indigenous shorts and at the top you can see we’ve got an executive digital insurer program and this pyramid basically shows how we feel that we can get an indie skills Development Across the organization and trying get it through from executive leadership teams through to all levels of the organization and it also shows that we
Timestamp: 47 min to 48 min
create programs that were tailored to different skill sets different types of people and you know from those who wanted a more kind of rigorous mini MBA program, which is what the ADI qualification does and that’s a little bit more Hands-On through to the CDI certificate which is 100% virtual and doesn’t require sort of some of the live interactions that we have.
In the ADI program. So what we think that we’ve done is addressed a lot of the gaps that we’ve seen in the market and created a solution that fits right across the board and you’ll see in a minute when we see the video some more detail on the programs and how they work but we’re you know, we’re really excited that we’ve launched this and you know, we’re sort of we’ve got two cohorts running at the moment for the ADI program and you can talk a little bit more about those later on but
Timestamp: 48 min to 49 min
You know, it’s been fabulous to sort of see people going through those and if I’m allowed to say this I can say that Debbie is one of our participants as well and it’s great to see that we’ve got someone from the L&D Community as well actually some going through the program when we’ve got others as well from other insurers from HR and a from L&D. And you know, I think that’s a great Testament to the fact that we’ve got various.
People going through the programs from across the organization. So, from HR through to marketing through to people in Tech through to people in sales and right across the board. Really. Okay next slide, please.
So just here just when we were designing the TDI Academy. I guess one of the things you can see it in bright blue. There is that we wanted to make sure that it was differentiated and experiential so
Timestamp: 49 min to 50 min
It’s fun. So we didn’t want to make it like it was going to school and it was you know, sort of classroom-based and we had a number of design principles that you can see there on the screen and I guess one of the things at the core of that really is that the program is accessible Anytime Anyplace by anyone so our Learning Management platform is designed to do exactly that and it’s really what we wanted to do as well as make sure that people can fit in, you know around their
jobs and I think Sara mentioned that on her slide that you know that there’s one percent is the time people have that, you know to spend on L&D and one of our design principles was that we wanted to create a program that was flexible enough to people for people to engage in you know with their day jobs as well. So, we had a number of these design principles here and I think we’ve done, you know a good job in industry.
Timestamp: 50 min to 51 min
Running a program that is enables people to learn alongside their day jobs and most importantly as well then sort of, you know, apply that to their day jobs. And I you know, I wanted to mention on the previous slide that I think the other gap that we probably saw as well is that there aren’t many programs currently out there that focus on L&D with in insurance. And I think what we’ve managed to do is create a program that not only is
accessible from anywhere but it also is very much applicable within the insurance space and that was a key factor for us because what we wanted to do is make sure that people the skills that they learnt they could pretty much straight away go away and use those skills and their knowledge within their organizations.
Okay, next slide, please.
Okay, so I’m going to play we’re going to play a video here and
Timestamp: 51 min to 52 min
Actually, all the tech works, but this should give you some more information about the program as well.
Timestamp: 52 min to 53 min
It’s the U.S.Insurer Geico that tops the ranking of the global social media Insurance monitor that this firm of put together. So, the top three is you can see there in the graph. Our Geico. Aegon and Allstate is iot. It’s a term that was first coined in 1999 just at the beginning of the.com Boom is maybe more acute and insurance, but actually they’re not unique as a saty.
Let’s hear from Jeff Bezos CEO of Amazon on one of the problems. We will need to overcome. One thing that has made us Successful by far is obsessive-compulsive focus on the customer as opposed to obsession over the competitor in this is where I feel that the disruption will come from I feel that in combination of us who understands and realizes this they will look around and find the insurer takes the people
Timestamp: 53 min to 54 min
The internal disruptions to actually change the way that they work and this is where I think we will see most of the insurance disruption its last use cases on State Farm in the US and they’ve created an AI enabled 360 degree view of the customer in a sense, you know, using technology to transform the traditional role of the face-to-face Insurance advisor.
Timestamp: 54 min to 55 min
Thanks. so just
going back to thank you. So hopefully that’s given you a good sort of overview of what the academy programs look like. And it also gave you a few examples of actually some of our lesson content as well. So, you can see the format of that. I just wanted to sort of wrap up and spend a couple of minutes here. Just showing you a little bit more about the ADI program and then sort of comparing that to CDI. So, ADI is a sort of mini.
MBA program and I said it’s a launched earlier on in the year and we’ve got a couple of groups going through that currently. And as you saw in the video, you know, we’ve got really sort of comprehensive program.
Timestamp: 55 min to 56 min
Within this of seven courses, there’s eight one-hour lessons. It’s a blend of multimedia learning as you saw but it can be it’s a hundred percent virtual. This one can be taken within completed within six to nine months and you would have seen there as well that you know, each lesson has sort of feedback after each lesson and within the program as well. We’ve got personal mentors.
Support participants going through the program and one of the main differences within between this ADI program and the CDI, which is the sort of hundred percent just online certificate is as that we have weekly discussion groups with the ADI to sort of discuss the lessons in more detail and engaging conversations and discussion with the participants to sort of bring some of the elements to life and to really go through the lessons and share learning.
Timestamp: 56 min to 57 min
Across the groups. So that’s ADI and then the next slide, please Brooke.
Just shows you the breadth of the program and the content that we cover. So, these are the seven courses and as you can see its sort of you know, it’s it covers a lot of ground. What we wanted to do was to make sure that it does exactly that, you know, it goes right across the insurance value chain and the content that as you saw in some of the Snippets and it’s delivered. We’ve got a whole range of Industry experts obviously in the video. You just saw
A handful of people delivering the lessons there, but we’ve got we’ve got people from Google. We’ve got external Consultants. We’ve got industry experts and you can see here. These are the sort of 56 lessons that we
Timestamp: 57 min to 58 min
That we cover next slide, please Brooke.
Just a little comparison here. And I think I’ve touched on this already but really the main difference between the sort of two core programs. So, the ADI and the CDI is really around the level of I guess work that that’s involved. So, the ADI because you do get the designation at the end of it and a business qualification. It is a little bit more involved. There are assignments that participants have to do at the end of each course.
There is a requirement as I said to take part in these discussion groups where a CDI doesn’t have any of the assignment material and you don’t have to participate in the in a discussion group. So, it is purely the content that I showed you on the previous slide that you can consume any time, you know, it’s about your own pace. So, the CDI one you could actually sort of finish.
Timestamp: 58 min to 59 min
The quickly if you were to whisper it you could finish it probably in a month’s time and come out with you know, your certificate in digital insurance, but the content across the two so the previous slides that you saw with the 56 lessons is exactly the same across both programs. There are just slight nuances as I said because the ADI one is slightly more involved than the CDI bomb is that I think that’s my last slide.
Can you just move forward Brooke?
Oh, no, sorry, so I won’t go on to this week just to touch upon the fact when you saw it in the video that you know, we’re really pleased that so far, you know, it’s still relatively early days, but we’ve got we’ve had some excellent feedback from the participants. We’ve calculated sort of the you know, the reviews the MPS school and you can see there that you know, we’re doing we’re doing really well and we do ask for feedback from each of the each of the
Timestamp: 59 min to 60 min
The lesson so it gives us a really good strong set of data that we can we can leverage and you can see some of the testimonials there as well. And you saw those in the video. So, you know, very proud of what we’ve created and really hope that you know sort of going forward. We can actually, you know, sort of meet our objective of or our vision really of moving digital shorts learning from the few to the many and I think we’re sort of well on our way to doing that.
And yeah, it’s great to be able to sort of see that we’re making a difference in that space.
Yeah, thank you. Malini. Thanks to that has a really good overview and I hope it was useful to everyone now got an eye on the clock. Right? I said 60 Minutes at the start and of course we’re now at 60 minutes now we did advertise this at 75. I think I’m going to guess that everyone wants a bit of a discussion. So
Timestamp: 60 min to 61 min
So, I revert to our original 75 minutes appreciate that not everyone will be able to stay on but please if you can’t stay on do have a look at the recording as well and I just want to kick this off with a quick poll. So, if we can do the pole and then we’ll get the results. I’ll just have a couple of questions. So, the second pole that we’ve got is up here. What do you think? The biggest challenge is expanding L&D on the impact of digital on insurance as part of a medium-term cultural change.
JH program so what’s the biggest challenge if you could vote on that and then we’ll have a quick discussion around that as a group, but I wanted to actually ask all of our panelists really quiet a broad question. Am I sort of picked up as we were going through some really interesting comments right that sort of get to the size of this challenge right and things like use the word vital many? I thought that was really interesting and then we heard about
Timestamp: 61 min to 62 min
Let’s see we heard about personalization we heard I think at least twice about the important of importance of Communications in making this cultural change work we turned about tolerating failure, so lots of lots of ideas there and of course, we know that this isn’t something that’s there is a silver bullet. There’s no single answer to this and it’s going to take time but I just wanted to ask each of the panelists in turn just to sort of give their own.
Personal view of what they see as the key one or two levers. So maybe you could just think about that and I think what we can probably do is share the poll result shortly, but actually maybe let’s do this question first. I don’t know who wants to go first. Maybe Simon you got no Q I’m just going to say on behalf of Millennium myself. We’ve got it just jump over to one of our weekly discussion groups with the ADI cohort, so I’ll leave it in the cave.
Timestamp: 62 min to 63 min
Times off and Debbie if that’s okay and thanks everybody for listening. Thanks. Thanks Simon. So, we have our HR experts on this as well, which I think is very appropriate. So, when so maybe just give me your views to that question of mine just sort of the what you what you call as the one or two most important thing.
Yeah, I think if you it’s here and kind of using you know, your poll question is the platform. I think those top two potential challenges are critically important. I think it’s going to be the digital transformation has to be part of the strategy because if it’s not there then you know, you just won’t get the impetus behind it and I think kind of monitor and it was in some of the questions that we’re coming through people were asking about you know, the engagement of leaders. I think that the one and two go hand in hand. You’ve got to have that
that kind of senior leadership sponsorship and it’s got to be authentic and it’s got to
Timestamp: 63 min to 64 min
A kind of driven as a key priority. If you get those then kind of the others the other points like through and for kind of will follow through. Yeah. Yeah.
Hi, this is Debbie. Yes, I’d agree with that. I think that the most critical thing is the alignment and seeing when we look at digital. We’re looking much bigger than even company. We’re looking globally we’re looking across around, you know, you can’t Silo what’s happening in a digital Enterprise and so for leaders across businesses across silos across functions to buy in and walk loss lockstep.
To create that Oneness that is you know, that is really key for everything else to fall into place.
Yeah, great and let me share a result. I think I think our audience pretty much agreement here and I think what’s interesting.
Timestamp: 64 min to 65 min
Trusting my is what we can say is you know; I think we’re well Beyond digital is not seen as a strategic priority. I think those we’re really full-on on this and then that Focus there on the coordination and the CEO leadership. I guess this is one of those topics where people transformation and digital transformation cultural transformation. It does require that top-level leadership as well. And I know so
Sorry, you’ve been involved in mentoring and coaching. I don’t know whether you have as well Debbie and Senior leaders in the organization. And you know, so how do you mean to them on this issue of cultural change? You know what you thought of them?
The way the Debbie was going to comment there. I it’s a hard one because you know, we typically
Timestamp: 65 min to 66 min
Of coaching and mentoring from a perspective of Readiness. It’s like you can take a horse to the water but you can’t make it drink. So, it’s understanding how much they want this, you know, you can’t let me run to three mentoring programs over the last three years formal mentoring programs and paired people and you know, it’s helped in the journey. There are some people that benefited from it more than others.
We’re looking across the organization at coaches, you know, getting experienced coaches to help leaders who have a will but don’t know how to start for example. It’s really important into programs that we’ve run that were hugely successful, but for more junior teams, we embedded constant check-ins where they had to present two leaders and two different Copa parts of the organization where they were being mentored and coached through their Journey. It was a three-month program.
Timestamp: 66 min to 67 min
I can explain the whole thing, but the power of actually of having people on your side and telling you what good looks like is really important. So I think couple of things one is how do you set it up so that it’s attractive to leaders and get their buy-in and then how do you find people who are speaking to leaders at that level that can coach and guide them and then
how do you watch for change?
Yeah, What’s your what’s your Reflections on that question? Yes, similar experiences who I think from a mentoring perspective, you know where I’ve seen the success has its kind of transfer those skills and experience and from a coaching perspective. It’s really around not being outcomes Focus being very clear about, you know, what the leader wants to achieve and then using coaching as a way to help them know to craft that right kind.
Timestamp: 67 min to 68 min
Road back in Journey and kind of developing some of the skills required and some of the kind of mindset shifts required to kind of Drive transformation.
Yeah, because I guess you know when a when a CEO gets to be appointed as CEO. I guess they haven’t really had that experience before being responsible for cultural change, right? It’s quite a big step up and it’s not necessarily one that most of us would necessarily experiencing online jobs as well. Right but now but now such a critical part of the CEO agenda. It’s not just about the you know, the kind of the financial outcomes it’s kind of culture as a you know as
As a key driver. Yeah, right. Well look. Thank you. and Debbie for this and being on what I’d like to do is just a wrap up with our usual sort of TDI updates and I’ve got just one little poll. I’d like to ask you to participate in if we go on the next.
Timestamp: 68 min to 69 min
slide Brook and just
yeah, just thanking really all of our corporate members. So, they had a lot of corporate members that supported us over the years and continue to support us participation in our knowledge programs some of Arnold L&D programs as well. If we go to the next slide what we are doing for our corporate members is holding some virtual lunch and learn sessions. So, if you see your logo on there, please do come in you’ll be Auto registered.
Always already signed up for EDI platform or be sharing lessons from the ADI program that Malini was sharing there as well. And we go to the next slide do also keep an eye open and Mark your diaries for the 2nd of June. We’ve got a half-day event, which is the inshore TechConnect and TDI.
Timestamp: 69 min to 70 min
The Innovation Awards, you’ll see we’ve got six and Shore Tech finalists you’ll see the logos on the right six insurance companies as finalists. So, come and join here their pictures you get to vote the winner. So that’s the format we use at TDI. And also, what we’ve got in that session is we’ve got a really interesting ecosystems in China panel that’s lining up as well. And I think you’ll find that enormously interesting. This is done in partnership with inshore TechConnect Asia, so they were going to hold
Their event in June in Singapore, but obviously that’s not possible. So, they’re going to hold the event next year, but we’re doing an online event for that as well. And then we go to the next slide just in terms of the TDI Academy program. I saw some questions about just Logistics on the program. So, we’re on to our third cohort on ADI. So, September that will be the third cohort or CDI program is on demand. So that’s available now.
Timestamp: 70 min to 71 min
And you can operate from CDI 280. I was some guarantee options and then if you’re interested in EDI, please inquire and if I could I’d like to just do a poll question just to ask you directly what you thought of the TDI Academy program whether you think it’s interesting to either personally for your company or for both, or maybe it’s not quite right for you at the moment. It will be very useful and appreciated feedback as well.
Whilst you’re answering that question Brooke if we could go to the next slide.
In terms of other feedback, we always have a little survey at the end of the webinar. So, it will pop up on your screen just ask you for five questions. We also send you the recording and that actually has a feedback Link in as well. So please to do if you can just spend a couple of minutes getting some feedback and do contact us.
Timestamp: 71 min to 72 min
As well, so you’ll see the contact emails of all of our panelists today. And I think that’s a I hope this gave you an overview of you know, I think a starter for us in terms of starting to talk more about you know, how we can affect digital transformation by UPS , people by starting to create cultural change. So, I think this is a topic that will
Come back to a number of times in the future. So do give us your feedback. Thank you very much for listening today taking your time out of the agenda and look forward to your participation in future webinars and events in the future. So have a great day. Stay safe. Thank you very much.