(lively music)
Michelle: There is no doubt
that implementing bionic operations is a heavy lift.
It has a massive impact on workforce and IT
and requires significant investment.
We've identified the following principles
as keys for success.
Be bold,
set ambitious targets.
Think end-to-end, and front-to-back,
and adopt agile ways of working.
Focus.
You need to be clear on the strategic logic
of the transformation and where you want to start.
Understanding this from the beginning
is probably the single most important factor.
For the first point, we see several pathways.
For example, becoming first in class
in terms of customer service, based
on a customer journey-driven transformation.
Alternatively, redesigning the operating model
to become more efficient and effective
or leveraging customer data as an asset
and building the capabilities required for that.
Secondly, you need to be clear where to start.
This is determined by three factors.
Business model, starting point, and funding need.
Let's discuss examples for each of these.
If an insurer positions itself as a service insurer,
then fixing service levels in the contact center
might be the best place to start.
E.g., by shifting customer requests
from phone to digital channels.
Another example might be an insurer
with a monolithic IT architecture.
If this insurer wants to enhance customer experience
via customer journey redesign,
then they first need to implement an integration layer
so that the service-based journey front end
are able to interact with the host back end.
Finally, given current economic conditions,
funding might be limited.
In this case, there is no other choice
than starting with measures
that take out costs immediately.
E.g., via a rapid automation journey.
Finally, what is most important
is to define the blueprint
of your bionic operations upfront.
It'll serve as the north star,
ensuring that you stay on course
during the transformation.
In case of changing circumstances along the way,
like technological changes
or a crisis like COVID,
you review your roadmap and flexibility,
adjusted following an agile approach.
However, your north star will always stay the same.