WEBVTT 1 00:00:00.091 --> 00:00:02.674 (lively music) 2 00:00:08.890 --> 00:00:10.110 There is no doubt 3 00:00:10.110 --> 00:00:13.943 that implementing bionic operations is a heavy lift. 4 00:00:14.940 --> 00:00:18.430 It has a massive impact on workforce and IT 5 00:00:18.430 --> 00:00:20.373 and requires significant investment. 6 00:00:21.400 --> 00:00:23.740 We've identified the following principles 7 00:00:23.740 --> 00:00:25.213 as keys for success. 8 00:00:26.110 --> 00:00:27.510 Be bold, 9 00:00:27.510 --> 00:00:29.570 set ambitious targets. 10 00:00:29.570 --> 00:00:32.330 Think end-to-end, and front-to-back, 11 00:00:32.330 --> 00:00:34.193 and adopt agile ways of working. 12 00:00:35.410 --> 00:00:36.750 Focus. 13 00:00:36.750 --> 00:00:39.190 You need to be clear on the strategic logic 14 00:00:39.190 --> 00:00:42.180 of the transformation and where you want to start. 15 00:00:42.180 --> 00:00:43.950 Understanding this from the beginning 16 00:00:43.950 --> 00:00:46.663 is probably the single most important factor. 17 00:00:48.100 --> 00:00:52.060 For the first point, we see several pathways. 18 00:00:52.060 --> 00:00:54.770 For example, becoming first in class 19 00:00:54.770 --> 00:00:56.980 in terms of customer service, based 20 00:00:56.980 --> 00:00:59.453 on a customer journey-driven transformation. 21 00:01:00.300 --> 00:01:03.650 Alternatively, redesigning the operating model 22 00:01:03.650 --> 00:01:06.280 to become more efficient and effective 23 00:01:06.280 --> 00:01:09.250 or leveraging customer data as an asset 24 00:01:09.250 --> 00:01:11.913 and building the capabilities required for that. 25 00:01:13.250 --> 00:01:17.130 Secondly, you need to be clear where to start. 26 00:01:17.130 --> 00:01:20.170 This is determined by three factors. 27 00:01:20.170 --> 00:01:23.733 Business model, starting point, and funding need. 28 00:01:24.650 --> 00:01:26.873 Let's discuss examples for each of these. 29 00:01:28.090 --> 00:01:32.350 If an insurer positions itself as a service insurer, 30 00:01:32.350 --> 00:01:35.200 then fixing service levels in the contact center 31 00:01:35.200 --> 00:01:37.900 might be the best place to start. 32 00:01:37.900 --> 00:01:41.040 E.g., by shifting customer requests 33 00:01:41.040 --> 00:01:42.883 from phone to digital channels. 34 00:01:43.880 --> 00:01:46.200 Another example might be an insurer 35 00:01:46.200 --> 00:01:48.713 with a monolithic IT architecture. 36 00:01:49.791 --> 00:01:52.670 If this insurer wants to enhance customer experience 37 00:01:52.670 --> 00:01:54.990 via customer journey redesign, 38 00:01:54.990 --> 00:01:58.410 then they first need to implement an integration layer 39 00:01:58.410 --> 00:02:00.730 so that the service-based journey front end 40 00:02:00.730 --> 00:02:03.473 are able to interact with the host back end. 41 00:02:05.130 --> 00:02:08.678 Finally, given current economic conditions, 42 00:02:08.678 --> 00:02:10.760 funding might be limited. 43 00:02:10.760 --> 00:02:13.474 In this case, there is no other choice 44 00:02:13.474 --> 00:02:15.320 than starting with measures 45 00:02:15.320 --> 00:02:17.910 that take out costs immediately. 46 00:02:17.910 --> 00:02:20.623 E.g., via a rapid automation journey. 47 00:02:22.120 --> 00:02:24.820 Finally, what is most important 48 00:02:24.820 --> 00:02:26.490 is to define the blueprint 49 00:02:26.490 --> 00:02:28.783 of your bionic operations upfront. 50 00:02:30.120 --> 00:02:31.980 It'll serve as the north star, 51 00:02:31.980 --> 00:02:34.450 ensuring that you stay on course 52 00:02:34.450 --> 00:02:36.440 during the transformation. 53 00:02:36.440 --> 00:02:39.560 In case of changing circumstances along the way, 54 00:02:39.560 --> 00:02:41.370 like technological changes 55 00:02:41.370 --> 00:02:43.650 or a crisis like COVID, 56 00:02:43.650 --> 00:02:46.320 you review your roadmap and flexibility, 57 00:02:46.320 --> 00:02:49.340 adjusted following an agile approach. 58 00:02:49.340 --> 00:02:53.183 However, your north star will always stay the same.