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The human side of digitisation
Sempre XIV, September 2018
Sempre XVI , September 2018 2
Is the transference of love
really the future of
insurance?
Sempre XVI , September 2018
“You play here, between tepid indifference to active dislike”
View from an insurtech on how customers view traditional insurers
3
Active dislike Tepid
indifferenceEarn their love
“We play here, earn the love of our customers
through the micro moments that matter to them”
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Sempre XVI , September 2018
Key messages for today
5
Digitisation is more about humans than technology
Winners will embrace the `and`
Focus on learning agility
Sempre XVI , September 2018
Key messages for today
6
Digitisation is more about humans than technology
Sempre XVI , September 2018
Digitisation is about humans, not technology
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Customer
desirability
Technical feasibility
Business
viability
You are here!
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Customers are driving the change, employees face threats and opportunities
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We`re unattractive to those we need the most
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Fewer than one in ten millennials are interested in
working in the insurance industry1.....
1 Deloitte Human Capital Trends in the Insurance Industry 2017
…and those that do lack an innovative mind-set
Bottom five differences in aspirations of insurance-inclined students vs. all students globally, 2015
Sempre XVI , September 2018
Key messages for today
10
Winners will embrace the `and`
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Winners will embrace the `and`
Transference of loveMake it difficult for the
customer to leave
(Just) happening
after a disasterPrevention
BotHuman
AdvisoryRoutine
`Phygital`
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Example of know do gap
13
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How connected are you?
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Are you involved in innovation?
Would you have answered the
same 3 years ago?
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Multiple cultures need to co-exist
Traditional Hybrid New
Identifiers of new markets
and services, adopters and
creators of new ways to do
business
Disruptors, Innovators
Legacy and experience of
the strong history of the
business
Traditional Backbone
Translators and connectors of
old and new. Understand the
legacy but can adapt into new.
Moderate healthy conflict
Connectors
15
Sempre XVI , September 2018
Which has implications for who you hire, reward and promote
Profile A Profile B Profile C
16
Sempre XVI , September 2018
Whole-brained humans will be less replaceable…
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… can this be learned?
Sempre XVI , September 2018
Key messages for today
18
Focus on learning agility
Sempre XVI , September 2018
Learning agility is the
ability and
willingness to learn
from experience,
and subsequently apply
that learning to perform
successfully under
new or first-time
conditions.
Learning
Agility
Source: Korn Ferry
Learning agility is a key attribute for today`s employees
Sempre XVI , September 2018
Learning agility comprises
20
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Don`t rely on my word alone
Sempre XVI , September 2018
We`ve got some key advantages and can partner
22
Swiss Re is partnering across the value chain with a primary insurer, FlightStats
and App in the Air, to provide a parametric product which automatically triggers
payments for flight delays
Stork
example
Value Chain
Solutions
Distribution Products P/UW Carrier OperationsServices
Risk Pricing Full fledged digital value chain offered by Swiss Re
Partnerships
Claims
Automated Claims Digital OperationsCarrierNew Digital
Insurance Products
Risk Alerts and
Prevention
Automated
Underwriting Engine
Client Impact:
• New product that is plug-and-play
into the client’s environment and
offers an immediate source of
premium income
• Automated digital product
positions client well with
millennials, mobile-first
consumers
• Operation completely outsourced
to Swiss Re (and partners)
Primary
Insurer
Sempre XVI , September 2018
Key messages for today
23
Digitisation is more about humans than technology
Winners will embrace the `and`
Focus on learning agility
Sempre XVI , September 2018 24
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Employees may need to unlearn long-established patterns to remain relevant
26
Sempre XVI , September 2018
• www.cognizant.com
• Korn Ferry Learning Agility
• BBC Technology
• http://www.bbc.com/news/technology-34066941
Further resources
27
Sempre XVI , September 2018
Legal notice
28
©2018 Swiss Re. All rights reserved. You are not permitted to create any modifications
or derivative works of this presentation or to use it for commercial or other public purposes
without the prior written permission of Swiss Re.
The information and opinions contained in the presentation are provided as at the date of
the presentation and are subject to change without notice. Although the information used
was taken from reliable sources, Swiss Re does not accept any responsibility for the accuracy
or comprehensiveness of the details given. All liability for the accuracy and completeness
thereof or for any damage or loss resulting from the use of the information contained in this
presentation is expressly excluded. Under no circumstances shall Swiss Re or its Group
companies be liable for any financial or consequential loss relating to this presentation.
Sempre XVI , September 2018 29
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