idc aic future proofing your business final
TRANSCRIPT
CSC Proprietary and Confidential
The 3 Secrets to Future-proofing your business
Andrew Dart – Industry Strategist CSC AMEA
18 Sep 2014
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Today’s Discussion
1. Why Future-proof your business
2. Customer Focus
3. Innovation
4. Corporate Culture
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The Majority of Business are NOT Future-proofed
40% of companies in the Fortune 500 in 2000,
weren’t there in 2010!
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S&P 500 Churn since 2002
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Secret #1: Customer Focus
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Emerging Industry Challenges
The rise of the customer-centric insurer will characterize the market
Insurance Industry Challenges for 2014 and Beyond
Source: Ovum
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Digital Customer Satisfaction 2013
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Relative Customer Satisfaction 2014
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Silicon Valley Study: “Customer First without compromise”
What they discovered:
• Inspire & delight
• Short feed-back loops and real-time improvements
• Real-time insights and personalization through Big Data
• Fast, easy and fun (just like Angry Birds)
The method of working and entrepreneurship in
Silicon Valley
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Secret #2: Create the Future - Innovate
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R&D is not Innovation
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IT’s Role in Innovation
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Digital is not Social
Digital
• Cloud
• Software as a Service (SaaS)
• User Interfaces / Experience
• Mobile Devices and Apps
• Big Data
• Analytics
• Wearables
• Sensors / Internet of Things
Social
• Culture
• Collaborations
• Co-Creation
• Sharing Economy
• Customer Centric
• Engagement
• Communication
• Conversation
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New Channels need to be at the heart of your business
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Telematics
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Secret #3: Make secrets 1 & 2 part of your Corporate DNA
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Innovation?
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Conway’s Law
Any Organization that designs a system
(defined broadly) will produce a design
whose structure is a copy of the
organization’s Communication structure.
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In summary….
1. It’s important to Future-proof your
business. Disruption is waiting for you.
2. Focus on Customers, not just today’s
but also tomorrows’.
3. Be part of the change – INNOVATE!
4. Make Customers and Innovation the
foundation of your business
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Thank You Andrew Dart
@ITInsuranceGuy