SSA & Company’s John Rodgers and Sachin Sachdeva authored, “4 Ways Established Insurers Must Future-Proof Their Organizations” in Insurance Innovation Reporter. While digitally born insurance firms may have advantage in today’s increasingly digital landscape, legacy insurers can still “achieve the flexibility of a startup while maintaining the benefits of a market leader.”
Though the tools and landscape are new, the strategic questions leadership should ask are not. When adopting digital tools, established insurers must pursue the greatest areas of value. Successful companies first implement pilot programs and then scale successful ones to build long-term capabilities that sustain results.
Insurers should also “rethink organizational structures to make them more product-focused, redefine roles, and improve links between business and technology,” to become more agile. When employees understand and embrace the opportunities to be gained, new digital tools can “empower them to solve problems and create new capacity.”
Read the full article.
John Rodgers is Managing Partner and Chief Operating Officer at SSA & Company.
Sachin Sachdeva is Vice President at SSA & Company.