Insurance Operating Models Service Sheet

Designing Models in a Disruptive Age

In today’s world, change is constant and many insurance organizations now recognize that evolving their operating models to leverage digital technologies and meet changing customer expectations is a top priority to remain competitive. The accelerating pace of change is driving a need for organizational agility and innovative ways of working. If an operating model is the vehicle that translates business strategy into action, then potential for a persistent gap between the setting of strategy and execution is increasing. The reality is that many insurance organizations lack the ability to apply an enterprise-wide, holistic approach to develop and implement a new operating model that is aligned to strategy and fit for purpose.

Many insurance organizations have evolved using multiple iterations of change programs applying either a one-dimensional approach or series of uncoordinated transformation initiatives to deliver incremental performance improvements. These changes can also result in complex organizational structures or vertical silos adversely impacting accountabilities, communication and performance.

The impact of market conditions, new regulations, changing customer behaviors and an accelerating rate of digital innovation are all contributing to the need for a more agile, strategic-minded operating model.

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