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Roy Jubraj The Value Proposition Maintaining trust in the digital economy 2016 President’s Conference - Customer 360° 23 rd November
Roy Jubraj
The Value Proposition
Maintaining trust in the digital economy
2016 President’s Conference - Customer 360°
23rd November
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Consumer Mega Trends Video
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data captured and stores, gets doubled in every 1.2 years
Google, on its own, processes more than 40 thousand search queries every second. This comes up to more than 3.5 billion in a single day
Facebook users send on average 31.25 million messages and view 2.77 million videos every minute
By 2020, a third of all data will pass through the cloud
At the moment less than 0.5% of all data is ever analysed and used
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The challenge for the IT organisation is to interpret and act upon the fundamental
elements that are enabling the new digital era…
Mainframe
Client-Server and PCs
Web 1.0 eCommerce
Web 2.0, Cloud, Mobile
Big Data, Analytics, Visualization
IoT and Smart Machines
Artificial Intelligence
Quantum Computing
Quantum
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… and the ways digital leaders are combining them to nibble at elements of the
insurance value chain (and in some cases reinvent the value chain)
Intelligent Automation New co-workers for the digital age
Platform EconomyTechnology-driven business model innovation
Predictable DisruptionDigital ecosystems drivewaves of change
Internet of MeOur world, personalized
Intelligent EnterpriseBigger data, smarter systems, better business
• Mobile• Social• Analytics
Customer experience in B2C shapes B2B
expectations for personalization and “Living
Services” that anticipate needs and preferences
• Big data• Analytics• Data
classification
• Artificial intelligence
• Smart advisors
Diverse data and advanced analytics combine to
enhance decision-making; design thinking coupled
with data mining predict valued customer interactions
Machines and software for greater automation and
lower costs and machine learning for automatic and
relevant responses to changing requirements
Platforms provide basis for new business models
and “meta services” that aggregate valued customer
experiences
Business partners across industries providing
connected services as differentiated synergistic value
propositions
• Cloud services• APIs
• IoT• Analytics• APIs
Elemental
Technologies
Combinatorial Technology
Trends
Description
Digital TrustStrengthening relationships through ethics and security
Liquid WorkforceBuilding the workforce for today’s digital demands
Earning the right to use and share data as a trusted
/ secure business by practicing proper and respectful
“services with manners”
Aligning value propositions and ways of working to
changing workforce expectations; using employee
experience design to catalyze change
• Digital security• Blockchain• IoT
authentication
• Social• Mobile• Analytics
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In summary, insurance firms are left with two main call to actions – ‘GO Digital’
and ‘BE Digital’
“GO Digital”
“BE Digital”Develop and
Launch New Ideas
Faster
Design a Delightful
User Experience
Sense & Interpret
Disruption
Understand and
Leverage Data
Products
Expanding into
Services
Alternative
Capital Services
Platform-Based
Models
Machine
Learning
Supported
Decision
Making
+
Reorganize for
Speed
Partner and Build
Camps
Build a High Digital
Quotient Team
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Exploring “GO DIGITAL” is important right now
Lower risk of failure
Lower (and clearer) Capex
Requires mainly IT talent
Proven ROI, results in 6-12 months
“Brilliant
Basics”
“Cutting New
Ground”
Requires “portfolio mentality”
for risk management
Requires design thinkers, technologists,
business strategists and entrepreneurs
Higher risk and reward; 1-5 year horizon to realise value
Requires new structures, new mind-set,
new culture and new metrics
Improves current user experiences
Mostly requires third-party
partnerships and APIs
Focused on reinventing customer experience
with new propositions, new business models
Requires no change in
existing structure, mind-set and culture
A good digital strategy covers two topics – Being brilliant at the basics and exploring new ground
opportunities
Input Existing IT Strategy
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