Digital transformation and change management in the cloud www.insurtechdigital.com
JULY 2020
Building enterprise cybersecurity in the digital era
Insurance leaders
CUSTOMER-DRIVEN INSURANCE AND TECHNOLOGY TRANSFORMATION OTIP’s Stacey Rous and Samantha Liscio of WSIB discuss how digital technology is driving the insurance revolution
Establish trust remotely. Jumio uses informed AI to deliver identity verification as it should be.
Streamline eKYC Catch more fraud Convert customers faster
jumio.com
FOREWORD
W
elcome to the launch edition
and explore previously unchartered
of InsurTech magazine.
areas of the industry.
The insurance industry is on the
We also present an in-depth interview
cusp on unprecedented and digi-
with Inderpal Bhandari, IBM’s Global
tally-driven change.
Chief Data Officer. In a wide-ranging
With new players disrupting the sector, the rise of digital ecosystems and new, customer-centric models, each of us in the industry stands poised to grasp the many opportunities that will come. Those key trends, and many more, are discussed in this first edition of the magazine. We consider how, in an increasingly competitive environment, insurers are turning towards collabora-
interview with, arguably one of the world’s leading technology experts, we explore how data and cognitive transformation strategies are changing every industry worldwide. Alongside IBM, other innovators in this issue include OTIP and WSIB – two organisations using technology to bring significant change to insurance – as well as CodeBlue, Raiffeisen Bank, PPI Benefits and Marsh.
tive ecosystems. These provide an
The breadth of content in this first
interconnected set of services that
issue gives an indication of how
allow insurance customers to enjoy
rapidly this industry is accelerating.
a digital, integrated experience. For
It is an exciting time for insurance.
insurers, they offer the opportunity to work with innovative, niche technology companies, to improve the effectiveness and efficiency of their operations
Enjoy the issue Matt High matthew.high@bizclikmedia.com www.insurtechdigital.com
03
We lead so you can thrive Now is not the time to wonder about your security. In these rapidly changing times, you shouldn’t have to worry about your security program. Rapid7 is here to help you reduce risk across your entire connected environment so your company can focus on what matters most. Whether you need to easily manage vulnerabilities, monitor for malicious behavior, investigate and shut down attacks, or automate your operations — we have solutions and guidance for you.
EXPLORE OUR SOLUTIONS
CONTACT US
L EA R N MO R E www.rapid7.com | info@rapid7.com
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05
PUBLISHED BY
PRODUCTION MANAGER
MEDIA SALES DIRECTOR
Owen Martin
James White
DIGITAL VIDEO PRODUCERS EDITOR-IN-CHIEF
Matt High
Kieran Waite Sam Kemp MARKETING DIRECTOR
CREATIVE DIRECTOR
Steve Shipley
Leigh Manning DIGITAL MARKETING MANAGER
CREATIVE TEAM
Oscar Hathaway Erin Hancox Sophia Forte Sophie-Ann Pinnell PRODUCTION DIRECTORS
Georgia Allen Daniela Kianickovรก
Shirin Sadr
DIGITAL MEDIA DIRECTOR
Jason Westgate CHIEF OPERATIONS OFFICER
Stacy Norman PRESIDENT & CEO
Glen White
DIGITAL MARKETING EXECUTIVE
Evelyn Howat PROJECT DIRECTORS
Andrew Stubbings Jake Megeary Jordan Hubbard
www.insurtechdigital.com
CONTENTS
34
10
Next generation security for the digital era
46
60 62 74 90 Global insurtech leaders
108 Ontario Teachers Insurance Plan (OTIP)
122 XXXxxx
126
148
CodeBlue
XXXxxx
166 Raiffeisen Bank
100 148 PPI Benefits Inc.
192 Achmea Australia
178 MARSH
Combating COVID-19 with rapid digitalisation
10
WRITTEN BY
GEORGIA WILSON PRODUCED BY
GLEN WHITE
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www.insurtechmagazine.com
WSIB
Samantha Liscio, Chief Technology & Innovation Officer at WSIB, discusses industry trends, digital transformation and the impact of COVID-19
12
W
ithin the insurance industry, Samantha Liscio, Chief Technology and Innovation Officer at Workplace Safety and Insurance
Board (WSIB) has seen the sector mirror what the organisation itself is experiencing internally. “It’s that customer focus,” says Liscio. “Our customers want to be able to deal with us anytime, anywhere and however they want, so we need to ensure that our products and services support that. This trend is one of six key drivers for our 2020 IT strategy at WSIB, to develop new channels and a sustainable operating model that are digitally focused as well as digitalising our core services and developing our work-from-home operations. The other five elements of our IT strategy include business intelligence and analytics, cyber and digital security, modernising applications, providing digital infrastructure and modernising our operating models, all with the customer experience in mind.” J U LY 2 0 2 0
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w w w.insur techdigital.com
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Learn more
Rogers & Design and related brand names and logos are trademarks of All other brands and product names are the trademarks of their respective owners.
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Learn more | rogers.com/business
WSIB
“ Our customers want to be able to deal with us anytime, anywhere and however they want, so we need to ensure that our products and services support that”
16
— Samantha Liscio, Chief Technology and Innovation Officer, Workplace Safety and Insurance Board (WSIB)
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Expanding on the industry trends emerging within insurance, Liscio explains that rapid digitalisation is posing challenges for insurance companies. “Insurance companies tend to be older companies that have been around a long time and have been built on a foundation of processes developed over decades, sometimes centuries, which can be longstanding and hard to change. These longstanding business models however do need to change to be flexible and adaptable if they are to continue to meet customer expectations.”
Accessing your WSIB data just got easier CLICK TO WATCH
|
0:50
17
w w w.insur techdigital.com
Leading through extraordinary times The last 3 decades of TCS Canada has been an epic journey partnering with Top Banks & Insurance �rms, Financial Market Infrastructure entities, Crown Corporations, Retailers, Manufacturing �rms, EnergyResource & Utility majors. We have participated in innovation with marquee academic institutions and exciting �ntechs. We have continued to evolve as a leading job creator on IT services and have made foundational impacts igniting the passion of the younger generation through STEM in 21 Canadian cities touching more than 8000 minds (including members of Canada’s indigenous community & other underrepresented groups).
The last 3 months saw a pronounced effect across societies, industries, and economies. During this moment of truth, active employee engagement & well-being globally has been top priority for TCS, while we continue to support mission critical technology backbones of organizations. Financial Services sector is a key vehicle for governments to navigate and heal. From our deep relationships with top �nancial services �rms, we have seen three speci�c thrusts amidst lockdown and an emerging new beginning that pivots on elastic model of Technology, Operations and Workforce.
#bfsi #newbeginning #covid19
Ready to Weather the Storm
PURPOSE DRIVEN
The pandemic has forced organizations to look beyond the products they make and sell to the purpose behind their existence. As they embark on this transformative journey, we will continue to enable our clients’ strategic intent and journey of end-customer purpose centric themes (prosperity for SME segment, wellness of individuals, �nancial health of portfolios) orchestrated through an ecosystem of internal & partner solutions and catalyzed by Open Banking move towards pan-industry collaboration.
RESILIENT
Our adoption of a Secure Borderless Workspaces (SBWS™) model has ensured service continuity for elevated levels of customer conversations and high consequence transactions (deferrals, payments, investments). Our contextual knowledge has enabled swift realignment of efforts on government (Canada, US) relief & cross-segment (individuals, businesses) customer care imperatives while sustaining paramount initiatives around �nance, risk, cyber and �nancial crime using cognitive solutions.
ADAPTABLE
We are actively participating in endeavors around accelerated intelligent responsive processes, digital parity across channels, insights driven decisioning, open & agile architecture, elastic infrastructure to be operationally nimble and strategically progressive addressing the changing environment.
We are privileged to be a key partner for WSIB, who has 106 years’ heritage and organizational purpose of wellness protecting and promoting healthy & safe workplaces. We enabled 100% of our team working remotely within �rst 2 weeks of lock-down. We accelerated digital journey transformation for low touch frictionless experiences for all - employees, businesses, and healthcare providers - for claims registration, administration, and return-to-work. To pivot this change management and organizational redesign, we envisaged a strategy for enterprise quality management and operating agility.
Manmeet Chhabra
Business Head, Banking-Financial Services & Insurance, Canada Business Head, Banking-Financial Services & Insurance, Canada
As human ingenuity embarks on a new beginning, we look forward to meaningful contributions to Canadian industries for engendering resilience, driving adaptability, and enabling customer & societal purpose.
Having lived the reality of major transformations, our highly adaptable team supports all aspects of business change, including strategy development, digital and data driven process and service improvement, program execution management and the establishment of an enabling culture.
Our services www.avenai.com
Contact us
21
When it comes to its own IT strategy,
needs met within the first MVP. Before,
Liscio explains that WSIB adopts an
that would have taken us more than
agile approach for rapid innovation
a year to develop a solution, by gather-
which encompases three key areas
ing requirements, working on those,
working together to develop a minimum
developing, testing, and then putting
viable product (MVP). “These key areas
into production. With our new approach
include service design with a human
we have been able to bring projects
centered design approach, followed
live within three months of starting an
by product owners identifying friction
MVP which immediately addresses the
points. Finally the DevsOp group takes
key customer pain points, and provides
a scrum based approach to developing
a base for opportunities to build addi-
MVPs to target customer pain points.
tional functionality incrementally. This
With this ‘digital factory’ approach you
approach has become our foundation
can get about 80% of those immediate
for the future.” w w w.insur techdigital.com
“ There are so many opportunities for IoT in the worker’s compensation space, especially as it relates to health and safety” — Samantha Liscio, Chief Technology and Innovation Officer, Workplace Safety and Insurance Board (WSIB) Many of WSIB’s new digital products are the outcome of this approach, which it has engaged with key partners for its agile-based solution development. “Within the last few months, partners such as Wipro and others have helped us develop a new service that provides secure digital access to claims information for injured workers. TCS – Tata consulting services – is our strategic partner and have been instrumental in transforming our end-to-end quality assurance process with industry best practices and innovations in the area of Automation, AI, Cloud Testing and Test Data Management,
E X E C U T I V E P R OF IL E :
Samantha Liscio As Chief Technology and Innovation Officer at the Workplace Safety and Insurance Board, Samantha leads digital transformation, leveraging technology to streamline processes and modernize the business, helping the WSIB provide responsive services to customers. Samantha drives IT service excellence and directs innovation while ensuring value from technology investments. Samantha has over 20 years of experience in IT leadership roles in eHealth Ontario, Accenture, and the Ontario Public Service. Currently Samantha serves on the Ryerson University IT Business Management Program Advisory Council and the Toronto CIO Governing Body. She is a past board chair for Cornerstone Family Violence Prevention and a past board member of the CIO Association of Canada and the Institute for Citizen-Centred Services. Samantha holds a Bachelor of Science (Honours) and a PhD from Queen’s University in Belfast. w w w.insur techdigital.com
23
WSIB
which has meant that we’ve eliminated 95% of the defects from our projects by implementing the optimized approach and methodology that TCS has helped us with. In addition to this we are also looking into opportunities to harness RPA, within our operations which is also something that we are working on with TCS.” As part of the company’s digital strategy to drive digitalisation in the heart of its operations, Liscio details the company’s adoption of cloud, internet 24
of things (IoT) and AI-enabled analytics.
CLOUD “For the WSIB, cloud is an opportunity to significantly accelerate the delivery of value, both to our internal business and to our end customers. From an IT perspective, cloud deployments can help to reduce risk. It’s complicated and expensive to host, deploy and maintain software that’s at the core of your business, and so increasingly big vendors offer those types of services better than we can ourselves. They can help us to use cloud native capabilities and drive innovations. WSIB’s cloud strategy focuses on the implementation J U LY 2 0 2 0
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w w w.insur techdigital.com
How CGI helped WSIB transition to a fully remote workforce When Ontario Public Health declared a ‘Work From Home’ policy due to COVID-19, the WSIB, like many organizations, faced an unprecedented challenge: How to quickly transition to a fully remote workforce while maintaining service levels for employers, and payment continuity for injured workers.
WSIB and CGI mobilized and united the resources necessary, including senior management, technology, and expert personnel. With highly collaborative and creative thinking, WSIB and CGI were able to overcome conventional limitations and transition 4,300 WSIB workers and their IT devices into a remote workforce. Careful planning and crisis management from the deployed CGI service teams paid off when each team readily handled the spike in call volumes and increased handling times as WSIB workers moved home. It was imperative that WSIB data remained secure outside the traditional working environment, and that end users experienced no service degradation despite the increased load on technological infrastructure.
“
Together, WSIB and CGI rapidly implemented a range of risk management approaches to preserve the customer experience of the WSIB workforce. This included digitizing document handling, remote desktop re-configuration, creating a new toll-free helpline, and redeploying a number of support teams. WSIB and CGI were subsequently able to guide WSIB workers through the challenges of setting up their workstations from home while in parallel CGI quickly configured and issued over a 1,500 new laptops. In just over 3 weeks, WSIB and CGI demonstrated resiliency in crisis by transitioning all WSIB workers to remote work arrangements while maintaining critical service levels and uninterrupted payments to injured workers.
CGI’s exceptional support enabled the WSIB to maintain critical services to injured people from distributed locations while transitioning from a traditional bricks and mortar operation to facilitating employees working from home. I look forward to continuing this partnership and working collaboratively together. – Samantha Liscio, WSIB Chief Technology & Innovation Officer
ABOUT CGI
Founded in 1976, CGI is among the largest IT and business consulting services firms in the world. Operating across the globe, CGI delivers end-to-end capabilities, from strategic IT and business consulting to systems integration, managed IT and business process services and intellectual property solutions, helping clients achieve their goals, including becoming customer-centric digital enterprises.
“
WSIB engaged CGI to support their transition to the new working reality by providing tailored end user computing and service desk solutions.
of a hybrid cloud service model using
We’ve been thinking very carefully
both public and private cloud, with
about what our infrastructure needs
partners such as Microsoft Azure and
to look like when it comes to the cloud
IBM. As a result we have a specific
and we are now underway with our
software-as-a-service (SaaS) solution
key partners.”
approach that’s aligned to our application strategy. We also have database
INTERNET OF THINGS (IOT)
and integration-as-a-service offerings
“With the internet of things (IoT), it’s
and we are introducing other platform-
an interesting point on our innovation
as-a-service capabilities and providing
radar right now. There are so many
Windows and Linux virtual machines as
opportunities for IoT in the worker’s
an infrastructure-as-a-service offering.
compensation space, especially as
This is all underpinned by a restructured
it relates to health and safety. So our
network architecture and cloud man-
innovation lab is exploring things like
agement platform.
connected devices that can detect
“ When the emergency was declared in Ontario in the middle of March, the WSIB saw its remote workforce increase from about 2% to more than 99% of the workforce in the space of about 10 days” — Samantha Liscio, Chief Technology and Innovation Officer, Workplace Safety and Insurance Board (WSIB)
fatigue. Devices that can be connected to the wearer or the dashboard of a truck — or both – that can detect if they’re falling asleep and can alert them. We’re also looking at things like proper posture and biomechanics which are especially important in the construction industry where people are lifting and bending and moving. Having those kinds of devices that can be connected to people or the surroundings to provide real-time feedback rather than corrective action after, this is something really interesting that we are working on in the lab relating to IoT.” w w w.insur techdigital.com
27
WSIB
AI ENABLED ANALYTICS “On the analytics side, being an insurance organisation, WSIB relies on predictive analytics for things like risk scoring, case based reserving, claims segmentation models, anomaly detection and text mining. As a result, business intelligence and analytics is a key pillar for our IT strategy and we’re investing in the capabilities, the tools and the backend infrastructure to be able to make decisions better and faster. Currently we extricate data from various data marts to create diagnostic 28
and predictive models. We’re in the progress of creating a central data store and intend to leverage in-database analytics that will allow us to execute extensive analytical workloads directly against our data. That’s going to be really important to us in increasing our decision making speed.”
CYBERSECURITY While innovations are revolutionising the insurance industry, it is important to remember that progress comes with challenges, in particular cybersecurity. “At WSIB we operate a 24 hours a day, seven days a week, 365 days a year security operation center,” J U LY 2 0 2 0
“ Longstanding business models however, do need to change to be flexible and adaptable if they are to continue to meet customer expectations” — Samantha Liscio, Chief Technology and Innovation Officer, Workplace Safety and Insurance Board (WSIB)
incidents. So in total that 85 billion was whittled down to roughly 150 incidents requiring action.” In order to combat these potential threats, WSIB has a cybersecurity strategy and strong governance in place. “We’ve assessed our main maturity across security and we’ve taken an inventory of all of our critical data and assets, so we know where our crown jewels are and how those are protected and we’ve applied the appropriate controls to those protections. We also conduct regular testing via the likes of audits and penetration testing, as well as monthly vulnerability assessments.” In addition to harnessing technology to maintain security, WSIB comments Liscio. “We keep track of
has also established a breach response,
all of the security records we receive,
as well as awareness and training
these are essentially all of the potential
programs in place, cyber security intel-
hits on our perimeter from a security
ligence and cyber security insurance.”
perspective, and between January and September last year we had more than
THE IMPACT OF COVID-19
85 billion security records. Of those 85
“When the emergency was declared
billion we sent 19 billion to our security
in Ontario in the middle of March,
information event monitoring system
the WSIB saw its remote workforce
for a second look to determine if they
increase from about 2% to more than
are events that need to be monitored,
99% of the workforce in the space
events that are relevant, events that are
of a few weeks. With that sudden shift
possible threats or events that become
to over 4,000 employees working w w w.insur techdigital.com
29
from home, a host of issues can arise,
corporate collaboration tools such as
from inadequate video conferencing
Microsoft Office 365, Microsoft Teams
capabilities due to connectivity at
and OneDrive, as well as encrypting all
the employee’s homes or additional
hard drives so that we could protect
challenges in maintaining security
and manage data remotely.”
of confidential information outside the
In addition to these changes, Liscio
office. But we’ve been able to effectively
explains that provisions have also
direct the company on how best to
been made for specific job functions
work remotely using our virtual private
such as call centers. “You can imagine
network which is robust and secure.
that within a large company like WSIB
We also have multi factor authentica-
there is a large call center and our
tion to ensure secure logins so that
service reps need to be able to answer
those working from home can con-
the phone. So even though they’re at
nect to the WSIB systems and our
home, they still need to be in that call
Your next clearance will be simple CLICK TO WATCH
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0:21
w w w.insur techdigital.com
31
WSIB
center environment. To achieve this we turned the WSIB computers into soft phones, rolling out on-screen dial pads to place and control calls from the desktop. In addition we have deployed more than 400 mobile devices in a couple of weeks since the state of emergency, so that end users working from home could maintain critical business services.” Without the support of its partners, Liscio emphasises, “would not have been able to get more than 4,000 peo32
ple productively working from home within a few weeks without the support of our partners, especially CGI and RCI Rogers who helped us expedite equipment provisioning across their supply
standard technology, providing that
chain and provide after-hours support
kind of flexibility for mobile work. We
for our IT and front-line staff.”
are also quickly digitising hard copy
While this has been a huge change
mail and things like access requests.
for WSIB, Liscio explains that now
When our customers ask for access
they are effectively and productively
to their file, we would typically go find
work from home, “the new normal
all of the paper, scan all of that paper
for us will be one where we probably
and then send them boxes of paper.
won’t be returning to our offices in
With digitised access requests we can
the same way as we worked before
share that information back with them
and things like phones and desktop
through encrypted email, making the
computers will be retired and lap-
need to do these kinds of paper-based
tops and cell phones will be the new
processes again obsolete. In addition
J U LY 2 0 2 0
1914
Year founded
$2,165mn Revenue in US dollars (2018)
5,000
Approximate number of employees
we are pivoting to accelerate the deliv-
changes, premium deferrals, lower
ery of online services for people with
interest rates, volatile investments.
claims, as well as identify additional
Guided by our digital strategy, the
rapid-fire digital transformations and
WSIB will respond by: Creating new
we have adopted an electronic sig-
digital channels and digitizing our core
nature solution to ensure we can still
services, fully implementing a sustain-
procure, approve and authorise things
able IT operating model to support
in a virtual way.
the new digital WSIB and continuing
“Looking ahead, I see the key driv-
to support remote and flexible work.�
ers for change in the InsurTech sector and for the WSIB being very similar. Post COVID-19 there will be changes in the workforce resulting in revenue w w w.insur techdigital.com
33
34
J U LY 2 0 2 0
Visma Raet: digitally transforming to drive efficiency WRITTEN BY
GEORGIA WILSON PRODUCED BY
JAMES PEPPER
w w w.i nsur te c hdi gi t a l. com
35
D I G I TA L S T R AT E G Y
Tom van Dael, Finance and IT Director at Visma | Raet discusses digital transformation and change management
T
om van Dael, Finance and IT Director at Visma | Raet, began his career at the company in March 2019. Prior to his role
as Finance and IT Director, van Dael worked for 36
Tele2 (Netherlands), M7 Group and KPN. “I’ve always worked in telecoms and finance,” he says, “So moving to Visma | Raet was interesting for me. I moved from telecoms, to a Software as a Service (SaaS) cloud computing company that combines HR with other business critical software. Currently the company is going through a digital transition, which is a big challenge and one that is very interesting. I still work within finance at Visma Raet, but in a different market with big transformation and integration plans.” In July 2018, Visma Group acquired 100% of Raet, forming Visma | Raet in the Netherlands. “Being acquired by Visma there was a culture change. Before, we were solely focused on HR and payroll software for businesses. With Visma, the company can now provide a wider range of business J U LY 2 0 2 0
37
1965
Year founded
€150mn Revenue in euros
1,100 Number of employees
w w w.i nsur te c hdi gi t a l. com
D I G I TA L S T R AT E G Y
“ Becoming a part of a bigger company has given a lot of new energy” — Tom van Dael, Finance and IT Director, Visma | Raet 38
software to companies,” says van Dael. “In the Netherlands our vision at Visma | Raet is to be the leading HR company in the Netherlands. But on top of that, we want Visma to be the leading critical business software provider that offers the best business solutions.” Since joining the company, van Dael has seen it drastically evolve in the wake of Visma’s acquisition of Raet. “Becoming a part of a bigger company has given a lot of new energy due to new investments and the new competencies available. The acquisition has had a very positive impact on Visma | Raet, not only from a business growth point of view, but in terms of personnel and culture as well.” When it comes to digital transformation at Visma | Raet, van Dael highlights that one of the biggest challenges he has faced is the continued use of legacy systems. However, he says“the acquisition has given us access to a multitude of software from Visma that we can internally use. The use of this gives us the ability to optimise our software internally and provide our customers the best experience with our improved products.”
J U LY 2 0 2 0
Visma | Raet: talent management CLICK TO WATCH
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1:08
39 Currently, van Dael is working to
business software industry. “If you are
drive efficiency and a better experi-
selling software, you need to make sure
ence via digital transformation. “We
that your own company is using it too,
are working to make sure our backend
to become your own advocate for the
has a clear setup of systems that are
software you are selling,” he adds.
fully integrated, cloud based and eas-
While the company provides cloud-
ily accessible for the business,” says
based technology to its customers,
van Dael, who believes that “finance is
van Dael is working towards becom-
one of the drivers of change within the
ing a fully cloud-based organisation
business. In order to be more efficient
internally: “Cloud technology currently
in the market we need to foster larger
provides our users with a lot of flex-
quantities of more efficient insights.”
ibility and accessibility, something the
Van Dael also sees digital trans-
company can benefit from internally.”
formation providing multiple benefits
When asked about other innovative
for remaining competitive within the
technology, van Dael highlights the w w w.i nsur te c hdi gi t a l. com
D I G I TA L S T R AT E G Y
40 company’s use of big data, analytics
van Dael believes Visma | Raet is begin-
and robotics. “When it comes to big
ning to build a solid foundation for its
data, we are on the edge of a huge
software in order to not only incorpo-
opportunity to harness this technol-
rate innovative technologies such as
ogy efficiently. Building good data
artificial intelligence and machine
governance as we continue our digital
learning within the business in the
transformation and company restruc-
future, but to drive efficient use of
ture will undoubtedly benefit Visma |
these technologies.
Raet.” At the moment, the company is
During its digital transformation
laying the foundations for collecting
journey, Visma | Raet has partnered
higher quality data to drive its analytics
with multiple companies to comple-
to the next level, as well as to improve
ment the Visma best of breed business
and extend the use of robots currently
software set up. Macaw has been
already used within its business process
the company’s integration partner
outsource department. Ultimately,
from the beginning, implementing
J U LY 2 0 2 0
the foundations for a flexible Azure integration platform within Visma | Raet. This stable platform has helped the company to transform its internal IT towards a business enabler and take on the challenge to move away from legacy systems. The integrated cloud business software consists of Visma Severa, capturing all projects of Professional Services, Visma. net Financials, as well as supporting accounting, invoicing and Visma 41 E X E C U T I V E P R OF IL E :
Tom van Dael Title: Finance and IT Director
Company: Visma | Raet
Industry: Business software
Location: Netherlands
Tom leads the business systems transformation to a fully cloud-based, integrated, predominantly Visma stack. Finding the right balance between finance, IT, customers, processes, employees, skills and culture in this continuous transformation is a great challenge which gives a lot of energy. Being surrounded by so many different highly skilled professionals stimulates continuous learning and development. Another great reward is knowing that the company’s customers benefit from its internal optimisation of the Visma business software. Tom believes the internal internal set up of integrated cloud-based best of breed Visma business software, complemented with efficient use of data analytics and robotics, needs to evolve to the ultimate showcase. w w w.i nsur te c hdi gi t a l. com
D I G I TA L S T R AT E G Y
Visma | Raet Managing Director Debby de Gelder
43 ProActive running the procurement process. To complement its business software, Visma | Raet uses Zuora to optimise its Software Subscription billing, which is also integrated within its Salesforce CRM. In addition to Macaw, Zuora and Salesforce, Visma | Raet has also partnered with Netive to support the management of its external layers of personnel and Kryon to optimise its processes by automating the mundane and repetitive activities. “The data set up of the new integrated business systems combined with the robotics capabilities opens a whole new window
“ If you are selling software, you need to make sure that your own company is using it too, to become your own advocate for the software you are selling” — Tom van Dael, Finance and IT Director, Visma | Raet
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D I G I TA L S T R AT E G Y
for the next step of data analytics to support our business,” says van Dael. Discussing the topic of change management, van Dael highlights the importance of continuously upskilling your workforce. “If a company is looking to change its way of operating or implementing new systems and technology, it’s not just processes that need to change. People need to change too – they need to be upskilled. Becoming part of a bigger company makes you look more closely at the 44
things that you do and the resources you use to ensure efficiency and optimisation.” As a result of becoming Visma | Raet, van Dael speaks proudly of its increased access to talent. “We are no longer limited to the Netherlands,” he says, “now we have multiple markets in which Visma is active, which provides access to different talents and competencies to develop our workforce.” When it comes to the impact of digital transformation on the company’s workforce, van Dael details the impact it is having specifically on his department. “Moving to a new system is a big change,” says van Dael. “Replacing legacy J U LY 2 0 2 0
software with new software enables us to provide more high value services in the future. However, this does mean our workforce needs to develop as a result, by learning new skills and potentially changing their way of working.” van Dael adds that, although change requires a lot of work, he believes people find it interesting, and that ultimately it helps employees and businesses to move to the next level. With this belief in mind, Visma | Raet looks to its people – alongside support from external organisations – to improve the operations of the business. “People themselves know the areas they want to improve and where the opportunities are to make processes work better. By involving people, whether from IT, finance or the business at large, everyone sees the personal benefits in transforming and as a result develop themselves in a natural way alongside the business.”
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Next generation security for the digital era WRITTEN BY
MATT HIGH PRODUCED BY
GLEN WHITE
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TECHNOLOGY
Rapid7 Director of Research, Tod Beardsley, on the cybersecurity landscape for digital enterprises and the company’s latest Threat Report
“M
arch 2020 will be the point we look back and see a fundamental change in how the internet functions, as well as how
people and enterprises interact with the internet,” says Rapid7’s Tod Beardsley, referring to the seismic shift in the digital and IT landscape that 48
has occurred as a result of the global COVID-19 pandemic. For Beardsley, and indeed Rapid7, this change will be analysed and understood in the broader context of cybersecurity, threat and risk. The business, based in the US, offers a host of solutions that simplify the complex, and which advance security for enterprise customers with visibility, analytics and automation delivered through its insight cloud. Beardsley has been with Rapid7 for 10 years – a period that he concedes is “a lifetime in a tech job” – and today is responsible for software vulnerability research efforts, vulnerability disclosures, and contributing to the company’s data science-driven research projects. Prior to this, as he explains, he was a technical engineering manager for the open source Metasploit project. “Kids these days have it so J U LY 2 0 2 0
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TECHNOLOGY
“ March 2020 will be the point we look back and see a fundamental change in how the internet functions, as well as how people and enterprises interact with the internet” 50
— Tod Beardsley, Director of Research, Rapid7 easy,” he jokes, dissecting his career path to the present day. “My route to Rapid7 came when the company acquired Metasploit, which is an open source project that’s pretty much seen as the de facto standard for penetration testers – so exploits, proof of
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concept codes, evasion techniques; it’s essentially everything a penetration tester would need, and I helped work on that. “Rapid7, prior to the acquisition, used Metasploit routinely, and after that acquisition I’ve continued to work here – it’s super fun and always exciting,” he continues. “That background at Metasploit, though, as well as previous work that included bug hunting, patch management, auditing, and
Rapid 7: Project Recog CLICK TO WATCH
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51 stints at companies such as Dell and
insight into the rapidly evolving threat
Westinghouse, has really informed a
landscape for businesses, provides a
kind of ‘security common sense’ that
clearer picture of the key threats fac-
continues to drive my work today.”
ing industries and defines how those threats will evolve over the course
UNDERSTANDING THE THREAT LANDSCAPE
of 2020.
Most recently, that work is reflected
business or leader embarking on, or
in Rapid7’s 2020 Threat Report, the
entrenched in, a digital journey of any
latest iteration of a quarterly report
scale. For Beardsley and Rapid7, it is
that leverages intelligence from the
a moment in time in the continuing evo-
company’s extensive network. This
lution of the threat landscape which
includes Rapid7 Insight Cloud, Rapid7
can be very different for organisations,
Managed Services and Rapid7
depending on the industry sector they
Incident Response. The report gives
work in. Indeed, during his time at the
As a snapshot, it’s invaluable to any
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TECHNOLOGY
52
organisation, Beardsley has seen much
everyone now concerned about a host
change. “The most significant,” he says,
of technologies and risk factors that
“certainly over the last five or 10 years,
didn’t even exist 10 years ago.”
is the moving of significant amounts of
Aside from this key change, Beardsley
information into the cloud and having
relates that phishing is still the number
a really good infrastructure provided
one cyber risk for enterprises, explain-
by Microsoft or Google, for example.
ing that “if you can solve phishing,
“For most, it’s just so much better
you solve 90% of your problems – it’s
than running your own racks of serv-
that simple. Network segmentation
ers; everyone is awful at that and, if it’s
is one way of combating it,” he con-
not your business, you’re doubly bad,”
tinues, “and you do get some notion
he continues. “But at the same time,
of that with the shift to the cloud
that change also alters the potential
because, on the most basic level, it’s
threats for your organisation, and has
not on your premises – it’s Google’s
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problem, unless they get lucky and hit one of your developers. The problem with the enterprise is that everything is a big flat network, and it’s still very hard to get people to change that. The concern is that with the sudden shift to remote working as a result of COVID-19, you’ve gone from a home workforce of 5-10% to 100% and a whole new bunch of VPN traffic that lets anyone have a straight shot to an internal network. It’s a recipe for security failure.”
2020 THREAT REPORT Rapid7’s latest Threat Report was published in February, before the major implications of the coronavirus pandemic had become well known –
E X E C U T I V E P R OF IL E :
Tod Beardsley Title: Director of Research Company: Rapid7 Industry: IT & Network Security Location: Austin, Texas I’m an individual contributor on software engineering projects, a technical security researcher, a no good dirty hacker, an open source maintainer and advocate, a conference organizer, a podcaster, blogger, and all-around new media gadfly, and an often-quoted primary spokesperson — often several to all of these roles at the same time!
the business is set to publish a report on this topic later in the year. The Threat Report analysed the Rapid7 data with the view to answer three core questions: what does this mean for you, how can you use it, and how can it improve your security programme? These are answered across the four key areas of threat telemetry, detection telemetry, recommendations and security programmes. w w w.i nsur te c hdi gi t a l. com
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TECHNOLOGY
Rapid7: Security Framework CLICK TO WATCH
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54
On the former, it was revealed that organisations continue to host vulnerable, internet-exposed systems.
remain the preferred method for breaching an environment. “A lot of what we found, we predicted,”
Rapid7 also found the levelling off of
he explains. “For example, that com-
EternalBlue exploit attempts in its
panies continue to build and deploy
project Heisenberg honeynet, and
straight up, vulnerable systems and
revealed that the overall population
then put them on the internet. So,
of vulnerable services holds steady,
things like Windows machines with
therefore holding the attention of
SMBs – Windows’ ‘everything’ protocol
attackers. In detection telemetry – and
for file sharing, administration, authori-
as Beardsley already has mentioned –
sation, printing… everything – just
attackers continue to favour phishing
exposed to the internet. That’s pretty
attacks, as well as malware and mali-
shocking, it was probably the most
cious documents; valid user accounts
visceral reaction I had to the data.”
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“ The most significant change over the last five or 10 years is the moving, is the moving of significant amounts of information into the cloud” — Tod Beardsley, Director of Research, Rapid7
framework and, I don’t think this report should be about us patting ourselves on the back, but those figures are really good and impressive. I would say that, for a mature security organisation, 50% would be a good baseline, so the fact we’re hitting 90% is kind of shocking – in a good way.” Conclusions from the Threat Report covered several areas. Based on the above, it should be little surprise
For the first time in a Threat Report,
that Rapid7 encourages all organisa-
Rapid7 has addressed the recommen-
tions to adopt the MITRE ATT&CK
dations that its Managed Detection
Enterprise Framework to guide threat
and Response (MDR) team identifies.
prevention and response programmes.
This team currently identifies and
Other key recommendations included
stops 85% of threats within one hour
a greater focus on external footprint,
of initiation and more than 90% within
the use of multiple threat detection
one day. “At first I thought the data
methodologies and the augmentation
was wrong on that,” says Beardsley. “We’re huge fans of the MITRE ATT&CK Enterprise Framework at Rapid7 because it really lets you lay out all the preconditions for an event, showing what attackers do to move from compromise, privilege, escalation and lateral movement, through payload, execution and exfiltration of data. We’ve moved all of our detection and response to fit into the attack w w w.i nsur te c hdi gi t a l. com
55
TECHNOLOGY
56
R A P I D 7: WHAT I S A T HRE AT ? When there is an adversary with the intent, capability, and opportunity, a threat exists. When two or more of these elements are present (e.g., intent and capability, but no opportunity), we call it an impending threat, because there is just one missing piece before it becomes a true threat. When there is just one element present (e.g., an opportunity in the form of a software vulnerability), we call it a potential threat. There is the potential for it to turn into a true threat, although there are additional components that need to come to fruition before it has a real impact on most organisations.
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“ I would say that, for a mature security organisation, 50% would be a good baseline, so the fact we’re hitting 90% is kind of shocking – in a good way” — Tod Beardsley, Director of Research, Rapid7
of technology with skilled individuals, and countering attacks on valid user accounts by patching, network segmentation and UBA. Organisations should also proactively deploy mitigating controls based on trends in the threat landscape. “If you have more than one person in your organisation you need to be adopting attack framework right now,” Beardsley states. “It just makes everything so much easier and is in the absolute best interest of your enterprise. Having some kind of endpoint
Rapid7: Vunerability Disclosure CLICK TO WATCH
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TECHNOLOGY
E X T R A FACT S 2020 Threat Report: key takeaways and recommendations • There is a need for focusing on external footprint. • Attackers most commonly exploit a public-facing application or valid accounts. This can be countered by patching, network segmentation and UBA.
58
• Organisations should use multiple threat detection methodologies and augment detections and technology with skilled individuals. • Close to 80% of breaches detected by Rapid7’s MDR service are malware-related, phishing-related or malicious documents • Earlier focus on detecting threats in the initial access and execution tactics of the attack lifecycle can reduce the cost and impact of breaches • Investing in collecting and reusing threat indicators improves security programme efficiency • Proactively deploying mitigating controls based on trends in the threat landscape can reduce the risk of a breach
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“ Companies continue to build and deploy straight up vulnerable systems and then put them on the internet” — Tod Beardsley, Director of Research, Rapid7
2000
Year founded
1,200+
59
Number of employees
protection that does instrumenting,
threats facing enterprises as part of our
lets you get into detecting at a very
series of conversations with Beardsley.
early stage of compromise right before anything bad happens, and finally,
Read the latest Rapid7 Threat
scanning your enterprise network is
Report here.
essential – and we do that very easily for anyone that needs it. You look at those three things, you’re 80% of the way there.” In the next edition of the publication we will look more closely at several of the w w w.i nsur te c hdi gi t a l. com
CLOUD & CYBER
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DIGITAL ECOSYSTEMS: THE FUTURE OF INSURANCE INNOVATION WRITTEN BY
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M AT T HIGH
61
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CLOUD & CYBER
As the pace of digital disruption in insurance quickens, survival relies on innovative digital ecosystems driven by technology and the consumer
T
he insurance industry stands on
the precipice of a paradigm shift. Digitisation is accelerating at pace,
with new and innovative technologies,
the greater use of data and a mobile-first approach not only changing how the industry
62
operates, but also how customers expect it to operate. So too is the competitive landscape changing the playing field for those incumbents in the industry, forcing them towards a better defined, service-based approach similar to that being adopted by many of the larger players in the financial services industry. But, unlike that industry, the insurance sector has typically been slower to adopt digitisation. That has to change. Digital can no longer be the preserve of the innovators or pioneers in the sector, it should permeate every level of the competitive landscape if insurers wish to reshape their business in line with customer expectations. Indeed, according to research by J U LY 2 0 2 0
“ The insurance industry stands on the precipice of a paradigm shift�
63
w w w.i nsur te c hdi gi t a l. com
From Inspiration
to Innovation
To know more, visit us at www.capgemini.com.au/insurance or email us at capgemini.marketing.au@capgemini.com
Accenture that analysed close to 20
and reliable data and the effective
industries, insurance is among those
analysis of that data. According to
most susceptible to future disruption.
Accenture, however, “the most fas-
Accenture explained that, by 2022,
cinating and potentially disruptive
carriers that are slow to respond to
developments lie at the intersection
digital – or ‘hyper-relevant’ – competi-
of new technologies, where they
tors could suffer market share erosion
combine to offer new, integrated and
close to $200bn and miss the oppor-
diverse value propositions”.
tunity to pursue new growth activities worth $177bn. It should come as little surprise that
For customers, it says, this converging of technologies will enable a greater delivery of end to end services
technology will change insurance.
that better address specific and real
The industry, regardless of what is
needs. For incumbents and legacy
being insured, relies on transparent
insurers to deliver on this technology
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CLOUD & CYBER
driven by the increased use of digital technologies by consumers and the realignment of global markets into one, connected whole. As an example, it notes that seven of the 10 largest companies in the world by market capitalisation operate within ecosystems, including Apple, Amazon, Alibaba, Microsoft and Facebook. Further, it explains that by 2025, 12 distinctive ecosystems will emerge, accounting for $60trn in revenues, or close to 30% of all global revenues. 66
innovation will require the nurturing of digital ecosystems that sees tra-
According to McKinsey, there are
ditional insurers join forces with new,
three key values derived from being
innovative insurtechs.
an ecosystem player:
THE AGE OF THE ECOSYSTEM
1. They can be gateways that reduce
According to McKinsey, “as traditional
friction for customers wishing to
borders fall away, the future of insur-
switch between related services,
ance stands to be greatly influenced
to not toggle between different
by platforms and ecosystems�. The
portals or log-in networks.
latter, it explains, is an interconnected set of services that allows users to
2. They harness network effects.
fulfill a variety of needs in one integrated experience. McKinsey explains
3. They integrate data across several
that digital ecosystems are already
different services, thus providing
emerging in several sectors world-
better and more personalised solu-
wide, such as healthcare and finance,
tions to customers.
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What do digital ecosystems mean for insurers? CLICK TO WATCH
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67 Accenture explains that the power of
partnered with organisations from other
the ecosystem lies in its complementary
industries. In particular, the highest level
nature – no single enterprise needs to
of disruption was reported in the areas
own or operate all the component parts
of products, services and customer ser-
of an insurance solution, for example.
vice – all crucial aspects of the insurance
Rather, overall success is measured
value chain.
by the depth and breadth of the col-
Accenture goes on to explain that
laboration between the various parties
“if insurers fail to create their own eco-
belonging to that ecosystem. Specifically
systems, they run the risk of being limited
on insurance, says Accenture, more
to the role of a pure risk cover provider.
than half of the industry executives
Other players may then be in a bet-
it surveyed for its The Ultimate Guide
ter position to provide a more nuanced
to Insurance Ecosystems report said
and valuable customer experience, to
they were seeing disruption or competi-
impose their brand, and to own the cus-
tion from others in the sector that had
tomer relationship.” w w w.i nsur te c hdi gi t a l. com
CLOUD & CYBER
68
INSURERS AND ECOSYSTEMS: BUILDING THE NETWORK
insurers show an interest in becom-
Accenture’s research shows that
may lack the understanding and
more than four of five surveyed
knowledge to implement an effective
acknowledge the importance of
ecosystem strategy. When compared
ecosystems in their overall digital
to other industry sectors demonstrat-
strategy, while 54% said that they
ing a strong approach to ecosystem
are actively seeking to join an eco-
development, insurers fall short in
system model. There is, however,
several areas including capability,
a broader consensus that while
culture, technology and resources.
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ing part of a wider ecosystem, they
“ Customer experience is a driving force behind insurance digital ecosystems� needs of any partner that the business can address.
ECOSYSTEM STRATEGY McKinsey states that insurers will be able to play multiple roles in a modern digital ecosystem, thus enabling them to reinvent their wider digital strategies. For example, the growth of automotive technology and a focus on automated vehicles by organisations like Tesla, Apple and Google offers considerable opportunity for auto insurers. Building an effective ecosystem
Here, says McKinsey, “insurers
strategy should start with several
already have a strong foundation
key areas of focus: how to create
[...] thanks to their current customer
a better experience for customers
base, distribution power, and stick
through their interactions with the
of personal data from auto insurance
insurer and the wider ecosystem;
policies. To position themselves as
how to value and enhance the impact
true ecosystem players and to fend
that the business takes on; what
off moves by other stakeholders,
makes the business stand out in the
insurers need to build capabilities in
ecosystem; and what are the specific
a number of areas including mobile w w w.i nsur te c hdi gi t a l. com
69
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Insurers: Digital ecosystems are already forming CLICK TO WATCH
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sensors, analytical tools, and customer interfaces.� More broadly, both Accenture and McKinsey suggest that partnerships should play a crucial role in the establishing of ecosystems. These should cover a broad spectrum of technology and market partners, but all should bring value in terms of new opportunities in the market and scope to expand beyond traditional product and services models. Customer experience, as with many industries, is a driving force behind insurance digital ecosystems. Just as in fintech and financial services all institutions are shifting the balance in their strategies so that they are geared towards customer interaction, so too should insurers approach any ecosystem with a view to greater ownership of the customer relationship.
“ Digitisation is accelerating at pace, with new and innovative technologies, the greater use of data and a mobilefirst approach� w w w.i nsur te c hdi gi t a l. com
71
CLOUD & CYBER
M C KI N S E Y
Key questions insurers should consider before developing an ecosystem strategy: 1. How highly does ecosystem strategy rank in overall priorities for the business? 2. What is the current state of the organisation’s customerfacing approach?
72
3. Is there an existing network of partners and does it reach beyond the industry? 4. How does technology drive change at present? 5. What is the culture and how do customers fit into that?
For example, consumers can use tools
among those partners involved in the
such as Amazon Alexa and Google’s
ecosystem. In its research, Accenture
search engine to receive advice on
sets out that insurers should build this
insurance and obtain quotes – that user
into a clearly defined strategy that
experience makes products like these
considers the role they want to play in
well positioned to drive the distribution
both the ecosystem and their custom-
side of the insurance ecosystem.
ers’ lives; fully understand their own
Other areas that are crucial to success of any ecosystem are trust J U LY 2 0 2 0
ecosystem strengths and weaknesses and be clear about what makes them
73
an attractive partner; and only choose
means that those businesses that
partners that support and align with
dare to attempt going alone, will
the previous two points.
be left by the wayside. In contrast,
To avoid falling short in a rapidly
a strong, customer-centric ecosystem
evolving marketplace insurers must
strategy that is broad enough to
adopt an ecosystem approach that
consider those products or inno-
suits their overarching business ambi-
vations that lie outside traditional
tions as rapidly as possible. The nature
insurance boundaries is a foundation
of today’s competitive landscape
for the future. w w w.i nsur te c hdi gi t a l. com
A I & D ATA
74
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IBM’S BLUEPRINT FOR A DATA-DRIVEN ENTERPRISE WRITTEN BY
MATT HIGH PRODUCED BY
GLEN WHITE
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A I & D ATA
Inderpal Bhandari, IBM’s Global Chief Data Officer, discusses data and cognitive transformation strategies and the role of the Chief Data Officer
“ T
o be a good Chief Data Officer is a true craft; when I walk into an organisation I immerse myself in the business strategy
and the detailed end-to-end business processes to know exactly what I’m going to implement, the strategy behind it, measure how well it’s going to unfold and the milestones to be hit,” says Inderpal 76
Bhandari, IBM’s Global Chief Data Officer. With more than 20 years of experience transforming industry-leading organisations, Bhandari has defined the scope, expectations, and deliverables of the modern Chief Data Officer role. Indeed, it wouldn’t be unreasonable to suggest he is the Chief Data Officer. Bhandari is a recognised expert in transforming data into business value. He improves customer experiences by delivering strategic and innovative capabilities that use data-driven insights to enable growth and streamline productivity. Most recently, he has been doing so at IBM. Bhandari joined the global tech leader in December 2015 to lead IBM’s data strategy and to drive its internal data and artificial intelligence (AI) transformation. This work,
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A I & D ATA
“ Our aim was to transform IBM into a data and AI enterprise”
78
His experience and an intimate knowledge of what an effective Chief Data Officer can deliver took shape in the trenches of corporate America where data was becoming the new natural resource. “I became the very
— Inderpal Bhandari, Global Chief Data Officer, IBM
first CDO in the healthcare industry in
which Bhandari joined us to discuss
on in the profession – at that point
in more detail, has culminated in the
there were four of us globally. Today
company’s Data and AI Enterprise
the role has expanded massively with
Blueprint – a roadmap for IBM clients
thousands of CDOs, Chief Analytics
to use when embarking on their own
Officers and Chief Digital Officers,
data and AI journeys.
and I’ve been fortunate to have been
2006, and was an entrepreneur in data products before that. It was very early
at the forefront from the very beginning, learning, and understanding the profession. “Data is a hugely valuable asset and so the importance of the role has transformed within enterprises,” he continues. “My experiences enabled me to contribute to multiple
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IBM - DATA STRATEGY CLICK TO WATCH
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79 organisations while honing the craft
to the cloud – cloud computing has
of using data and technology to fuel
been a major game changer at the
the powerful and complex transforma-
industry level,” he states, expanding
tions that enterprises are undergoing.”
on the technology evolution that has shaped today’s landscape. “And with
TECHNOLOGY AND TRANSFORMATION: DRIVING CHANGE
that came a heightened focus on
Understandably, during his career
which remain core areas for any CDO.
Bhandari has been at the forefront
Once the resources become available
of technological innovation. He has
through cloud or, more recently, hybrid
also seen data evolve to become a
cloud, AI and many of the devices
crucial success factor for the mod-
at the ‘edge’ can and will come into
ern enterprise.
play, such as robotic technology, the
“The rapid change we’re seeing today really started with the journey
cybersecurity, data privacy and ethics,
Internet of Things (IoT), and autonomous vehicles.” w w w.i nsur te c hdi gi t a l. com
A I & D ATA
80
The ability to keep ‘building’ on
terms of transforming their businesses.
the hybrid cloud, says Bhandari, will
Leaders and organisations all over the
accelerate the adoption of AI as part
world have come to realise that it’s not
of enterprise transformation. Other
a question of ‘should we do it’, but a
important technologies that will be
question of ‘when do we do it’. If you
adopted include 5G and blockchain,
don’t, you’ll very quickly be irrelevant.”
which he says has the potential to “It’s a rapidly changing industry. But
IBM: THE CDO’S BLUEPRINT FOR CHANGE
with that, comes an acute awareness
When Bhandari joined IBM five years
and willingness on the part of the
ago, his role was specifically created
c-suite and enterprises to gain a much
to facilitate the mission of transform-
greater understanding of what these
ing IBM into a Data and AI enterprise.
trends and technologies can do in
He built a transformation strategy
transform data and data ownership.
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E X E C U T I V E P R OF IL E :
Inderpal Bhandari Title: Global Chief Data Officer Company: IBM Corporation Industry: Information Technology & Services
Location: New York
Inderpal Bhandari rejoined IBM as Global Chief Data Officer in December 2015. In this newly created role, he has leveraged his extensive experience to lead the development of IBM’s data strategy and drive IBM’s internal data and AI enterprise transformation. The work has culminated in the Data and AI Enterprise Blueprint; a roadmap for IBM’s clients on their own transformation journeys. Inderpal brings to IBM more than 20 years of experience in leadership roles at such leading companies as Cambia Health Solutions and Express Scripts/Medco Health Solutions. Prior to joining IBM, Inderpal served as Senior Vice President and Chief Data Officer of Cambia Health Solutions where he led the development of Cambia’s data strategy and drove the transformation of the company’s consumer experience strategies. Prior to that, Inderpal served as Vice President
of knowledge solutions and Chief Data Officer at Express Scripts/Medco Health Solutions, where he was responsible for maximizing the utility of the company’s data and its readiness to respond to emerging market trends. Before that, he founded Virtual Gold, growing the company into an international market leader for analytics in call centers and professional sports. Inderpal is an expert in transforming data into business value and improved customer experiences by delivering strategic, innovative capabilities that use analytic insights to enable growth and productivity. In 2017, he was named U.S. Chief Data Officer of the Year by the CDO Club, and has been featured as an industry expert by Wall Street Journal, Washington Post, US News & World Report, CNN and FOX. Inderpal earned his Master of Science Degree in Electrical & Computer Engineering from the University of Massachusetts and holds a PhD in Electrical & Computer Engineering from Carnegie Mellon University. w w w.i nsur te c hdi gi t a l. com
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IBM - ARTIFICIAL INTELIGENCE CLICK TO WATCH
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roadmap based on three steps:
the company is going to make money,
develop a clear data strategy; execute
maximise business impact, and delight
enterprise-wide data governance and
customers,” he explains. “In IBM’s case
management systems; and become the
it was clear that we were going to make
central data and AI framework for the
money primarily from best-in-class AI
IBM enterprise.
and hybrid multi-cloud offerings. But
The first is crucial for any enterprise
it wasn’t clear what AI meant for an
embarking on such a journey and starts
enterprise or how to go about it. Thus
with one straightforward question:
we thought why not make IBM itself into
what is your company’s monetisation
an AI enterprise and use it as a show-
strategy? This is, says Bhandari, key to
case for our clients.” Bhandari created
a successful data strategy. “Any data
a dedicated team that consists of
strategy has to be tied to the business
world-class data and AI specialists who
strategy, and that revolves around how
collaborate across the entire business.
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“ To be a good Chief Data Officer is a true craft” — Inderpal Bhandari, Global Chief Data Officer, IBM
IBM’s Data and AI Blueprint encompasses technology, organisational considerations, data, and business process transformation. For example, cognitive services give the ability to see and contextualise across all data as well as infuse insights into the work-
Next, the focus rested on consolidat-
flow of business processes. Hybrid
ing critical enterprise data and making
cloud solutions encompassing public
it available as a service. Rapid inte-
cloud, private cloud and on-premise
gration of critical data into a single,
environments, provide enterprise cloud
consolidated data platform can bring
container support while implementing
unprecedented connection and is
and enforcing security standards
the moment, Bhandari says, where a
and privacy policies. Further, the
data strategy ‘really comes alive.’ He
convergence and curation of data that
adds that a unified data platform is the
would have previously been siloed and
fundamental enabler of advanced AI
fragmented across an organisation,
solutions in an organisation, and brings
to create a reliable and trusted source
new business capabilities, drives effi-
that AI systems can build upon.
ciency and top-line improvement. “Our aim was to transform IBM into a Data and AI enterprise,” he notes. According to Bhandari, AI systems – all of which are underpinned by data – have four main attributes: they learn from data, they support forms of expression more natural for human interaction, their primary value is their expertise, and their learning evolves continuously as they encounter new information or scenarios. w w w.i nsur te c hdi gi t a l. com
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A I & D ATA
“ Cloud computing has been a major game changer at industry level” 84
— Inderpal Bhandari, Global Chief Data Officer, IBM
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Cognition also brings distinct advantages to points of business that require significant human judgement. In Bhandari’s Global Chief Data Office, for example, several projects utilise IBM’s Data and AI Platform. “As an example,” he adds, “take a role within our business, which essentially revolves around an employee having to classify whether a client that we’re working with is a government-owned entity. We hold ourselves to very high standards, and so that kind of classification and judgement is crucial. We have to get it right. Previously, that classification would have involved research, communication with other parties and eventually arriving at the classification. This is a perfect example of where AI comes into its own. Using our IBM Watson capabilities, we can now access historical data as to how we have previously labelled companies, and we can sift and monitor real-time information about those same businesses. “That capability makes the decision more quickly, accurately and improves efficiency of the work,” he continues. “As an example, it may be at a lower w w w.i nsur te c hdi gi t a l. com
85
A I & D ATA
How the IBM Integrated Analytics System Helps You Do Data Science Faster CLICK TO WATCH
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1:51
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“ We have to work AI into every business process, whether it’s supply chain, finance, marketing, accounts payable. There’s no area it can’t bring significant advantage to” — Inderpal Bhandari, Global Chief Data Officer, IBM J U LY 2 0 2 0
level in terms of the vast amounts of activity we undertake at IBM, but you multiply it one million-fold across every significant business decision that we make, and you have an insight into the potential of AI. That’s what I envisioned when I began this journey – we have to work AI into every business process, whether it’s supply chain, finance, marketing, accounts payable. There’s no area it can’t bring significant value to.” The challenge, says Bhandari, is for enterprises to undertake that scaling of data and AI solutions. Core to that,
he says, is a strong central function
quickly ramp up their AI solutions and
which is the role that he and his imme-
processes and drive business value
diate team provide. However, he also
covering areas including data strategy
adds that in his experience, many
and architecture, automating business
organisations are still in the early
metadata, data privacy and trust, and
stages of their AI adoption journey.
AI applications.
IBM’s learnings from its data and AI
“When I started the Global Chief Data
transformation form the basis of how
Office at IBM, we were effectively at
IBM interacts with clients.
‘ground zero’ in terms of this,” Bhandari
Take the company’s AI Enterprise
notes. “But our success allows us to
Accelerator as an example. This col-
share and take it to a completely new
laborative cross-enterprise initiative
level for both internal transformation
builds on IBM’s AI transformation
and with our clients. Our Enterprise
and is designed to help leaders
Data and AI platform was established
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A I & D ATA
1911
Year founded
$79.59bn+ Revenue in US dollars
350,000 Number of employees
88
at the end of 2017 and by year end
freely admits to adopting a ‘fail fast’
2019 we had over 100,000 active
approach to his role and mission at
users on it internally, who were infus-
IBM and is not afraid to admit – even
ing AI into their business processes,
with his experience – that he and his
and several clients replicating these
team are always learning. “If you are
use cases externally. That’s a really
the CDO then you must be aware it’s
high rate of adoption for both internal
a transformation role and you are
use and by our customers.”
primarily a change agent,” he explains. “You have to change the enterprise to
A BLUEPRINT FOR LONG-TERM SUCCESS
transform it, so the data and AI blue-
Any transformation journey is an
print that we developed has all of the
ongoing process, even with a CDO as
aspects that any change agent should
capable as Bhandari at the helm. He
focus on.
J U LY 2 0 2 0
89
“You use the data and the technol-
data comes from millions of devices
ogy to affect the change, of course, but
at the edge. That and technologies
there’s also the people and culture fac-
such as quantum computing have the
tor that is equally important. You can’t
potential to revolutionise everything
neglect any aspect of that blueprint if
we do. It’s an exciting prospect and a
you want to succeed. Technology will
very exciting time for Chief Data and
continue to evolve, and so we must
Technology Officers at the forefront
evolve too. The move to the hybrid
of these transformations.”
cloud is only accelerating, for example, and things like cybersecurity, privacy and data ownership will become more and more relevant. Similarly, edge computing will be a critical driver as w w w.i nsur te c hdi gi t a l. com
T O P 10
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Global insurtech leaders Here, in no particular order, we consider the top global senior executives driving digital transformation in the insurance sector
WRITTEN BY
MATT HIGH
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T O P 10
State Farm Company
HQ
Bloomington, Illinois
92
10
Fawad Ahmad [ C H I E F DI G I TA L OF F I CE R , STATE FA RM ]
Having been a trusted provider in the US since 1922, State Farm needs little introduction in the insurance sector. Ensuring an incumbent that remains dedicated to helping people realise their dreams can remain at the forefront of the industry in the digital age has, since 2016, been Ahmad’s responsibility. Since January of that year, he has held several digital positions, from VP digital, through SVP Digital & Customer Experience to his current role of Chief Digital Officer. Ahmad is an experienced and result-driven leader with a breadth of experience and digital knowledge that encompasses financial services, retail and ecommerce. Ahmad has been responsible for overseeing the digital transformation of State Farm, driving the company’s digital and customer experience.
J U LY 2 0 2 0
QBE Insurance Company
HQ Sydney
09
Mark Gay
93
[ C I O , Q B E I NS UR A NCE ]
Gay specialises in digital transformation, technology strategy, enterprise architecture, progamme delivery, strategic outsourcing and innovation and talent development. Such a broad scope of related skills is testament to his more than 25 years’ experience in driving change across global roles spanning financial services and banking, logistics, education and entertainment. In 2017, Gay was named finance CIO of the year at the iTnews Benchmark Awards in recognition of his delivering a five-year transformation of ME Bank’s IT infrastructure.
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Better Business Decisions FICO powers decisions that help people and businesses around the world prosper. Using FICO solutions, businesses in more than 100 countries do everything from protecting 2.6 billion payment cards from fraud, to helping people get credit, to ensuring that millions of airplanes and rental cars are in the right place at the right time.
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Š 2019 Fair Isaac Corporation. All rights reserved.
CONTACT US
08
Gunawan Chiu Wu Pin [ C H I E F T E C H NOLOGY OF F I CE R , A I A S I NGA PORE ]
Insurance firm AIA Singapore announced the appointment of Gunawan Chiu Wu Pin as Chief Technology Officer in March 2018. Chiu had previously held the same role for AIA Financial Indonesia, where he was responsible for IT operations, digital initiatives, data protection, business continuity and strategic project development. At AIA Singapore, Chiu was hired to oversee the driving and development of digital initiatives as part of the company’s wider digital transformation plans.
95
AIA Singapore Company
HQ
Singapore
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T O P 10
RSA Group Company
HQ London
96
07
David Germain [ G RO U P C I O, RS A G ROUP ]
Germain, a highly experienced chief information officer and chief operating officer has, over the course of more than two decades, worked at leading international financial institutions including GE Capital, Deutsche Bank, RBS and, more recently, RSA. At the latter, he holds the position of Group Chief Information Officer, leading RSA’s global IT and technology function and working across the group to define and drive the role of technology in its overall growth strategy. Alongside his work at RSA, Germain is also the Co-chairman of the UK CIO Executive Council. This role sees him work to facilitate the design of ‘by CIO for CIO’ peer-driven content and insight and look to grow networking opportunities for the UK’s senior CIOs. J U LY 2 0 2 0
Santam Insurance Company
HQ
Bellville, Western Cape
97
06
Kevin Wright [ C IO , S A NTAM I NS UR A NCE ]
Wright has led business transformation programmes at three public listed entities and, as a result, is a highly experienced and entrepreneurially-driven CIO that is inspired by change. He has worked at Santam Insurance since the start of 2014, leading on the company’s transformation journey. Santam has a long and illustrious history, having been dedicated to protecting South Africa’s most important assets and valuables. As a consequence, the company is today the largest general insurer in the country, with a market share in excess of 22.5%.
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K.V. Kumar [ E XE C U T I VE VI CE PRE S I D E NT - I T & MI S , QATA R I NS U R A NCE COMPA NY G ROUP ]
According to Kumar, his goal is “to make IT solutions simple, user friendly and the driving force behind the success of a business.” Kumar, an experienced IT veteran with more than 20 years’ experience in the industry, has been fulfilling this goal at Qatar Insurance Company (QIC) Group since 2006. During his time at the company, which is the market leading insurer in Qatar and one of the highest rated in the Gulf region, Kumar has been responsible for developing IT strategy and vision for the group, for planning the processes that allow for the regular evaluation of technology and systems, and overseeing the entire IT 99
department’s operations.
Qatar Insurance Company Group Company
HQ Doha
jumio.com
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T O P 10
04
Ash Shah
[ G LO BA L P ROG R A M D I RE CTOR , A X A G RO U P OPE R ATI ONS ]
Shah has been with AXA for close to five years, most recently holding the position of Global Program Director. He has, in this time, overseen the technology transformation that underpins AXA’s ambition to become a customer-driven, but tech-led digital organisation. Shah said of this mission: “When we undertake a transformation, we do it on a truly global scale with technology at the forefront as one of the enablers.” To achieve this Shah, who has more than 20 years’ experience as an international organisational leader in sectors including financial services and retail, ensured that innovative technology moved from being a support function 100
to an intrinsic part of AXA’s everyday operations. At a more granular level, this included a strong focus on the better use of data and a migration to both private and public clouds.
AXA Company
HQ France
J U LY 2 0 2 0
Great-West Lifeco Company
HQ Toronto
03
Phil Armstrong
[ E X E C U T I VE VI CE PRE S I D E NT A ND GLO BA L CI O, G RE AT-WE ST L I F E CO ]
Armstrong is a global financial services executive with more than 40 years’ IT experience. As Global CIO of Great-West Lifeco, he has overseen the organisation’s digital transformation, which sought to build on the company’s original promise and customercentric approach while focusing on the greater use and understanding of data and the adoption of innovative new digital solutions. This included all technology strategy, delivery, infrastructure, procurement and operations, and a particular focus on areas such as technology architecture, cybersecurity, hybrid-cloud enablement and AI and RPA implementation. Armstrong is a Hall of Fame CIO inductee.
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E M E A | A P A C | | APAC N O R T H | A EMEA MERICA AMERICAS FIND OUT MORE
FIND OUT MORE
T O P 10
Bajaj Allianz Company
HQ
Pune, India
104
K V DIPU, President and Head of Operations, India, Bajaj Allianz General Insurance CLICK TO WATCH
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1:10
02 Dipu KV
[ PR ESI DE NT - O P E R AT IO NS , CO MMUNI T I E S & C X , BA JAJ A L L I A NZ ] 105 Dipu KV drives digital transformation and industry leadership as the Head of Operations, Communities & CX at Bajaj Allianz, Asia’s leading general insurance company. To say he is an award winning CXO-level executive is something of an understatement. Bajaj Allianz’s and Dipu KV’s digital accolades during his tenure at the company include the industry’s first blockchain and IoT solutions; twice digital insurer of the year across Asia; ranked seventh in the global top 100 digital insurers; best CX award; two innovations in moneycontrol’s top five; the BFSI’s Digital Innovation Award; and the BFSI 100 Innovation Leadership Award. He was also responsible for rolling out an AI-powered chatbot that was subsequently showcased by Gartner and was the winner of the SKOCH Order-of-Merit & Digital Transformer awards. Dipu KV specialises in business process re-engineering, payments, insurance, credit cards, blockchain and the internet of things, RPA, AI, insurtech and fintech.
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T O P 10
AXA Company
HQ Japan
106
David Paget [ CHIEF TECHNOLOGY OFFICER & GROUP OPERATIONSv HEAD OF JAPAN MARKET, AXA LIFE JAPAN ] Paget has been an integral part of AXA’s technology and digital journeys since joining the company in 2007. During this time, he has worked at several divisions of the business including, between 2014 and 2018 at AXA Gulf. Here, he led a five-year strategy to transform operational capabilities, including redesigning the operating model, rolling out an Agile methodology and new data strategy, reviewing the organisation’s digital strategy and delivering a new digital platform and reviewing and improving several existing solutions. Alongside his CIO and COO roles, Paget leads activities across a diverse range of functions, including marketing, audit, HR, procurement, facilities management and communications. This has, he concedes, allowed him a wider operational perspective from which to approach his work and allowed for the successful delivery of business objectives.
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CM | Know you can CLICK TO WATCH
|
0:30
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OTIP’s technology driven, peoplefirst response to COVID-19 WRITTEN BY
GEORGIA WILSON PRODUCED BY
GLEN WHITE
J U LY 2 0 2 0
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O N TA R I O T E A C H E R S I N S U R A N C E P L A N ( O T I P )
Stacey Rous, EVP & CFO at OTIP discusses the company’s people-first strategy, technology trends and its response to the impacts of COVID-19
W
hen it comes to the workforce at Ontario Teachers Insurance Plan (OTIP), Stacey Rous, EVP & CFO, shares that the organi-
zation understands that staying connected, whether with coworkers or senior leaders, is key. “Creating that sense of community at work is really important, 110
as is the ability to listen and evaluate opinions,” she says. “After anything we do as an organization, we ask for feedback to develop a safe space for people to talk about the organization in a collaborative way. This allows us to be both responsive and agile in an ever-changing world.” This mindset played a key role in OTIP’s response to COVID-19. Rous believes that relocating the majority of our workforce to home offices has been the biggest disruption to the company from the COVID19 pandemic. “We moved more than 600 people into home offices in less than two weeks, moving them onto a technology platform that is compatible with working from home. Protecting the health and well being of our employees was top of mind, but at the same time we managed to accomplish this task while maintaining our service to members.” J U LY 2 0 2 0
1977
Year founded
$1.5bn Revenue in Canadian dollars
500+ Number of employees
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Success begins and ends with people. We help organizations optimize the health and productivity of their people, through innovative and entrepreneurial solutions. Our technology, people and processes help organizations simplify administration burden and increase productivity, while providing industry-leading member support. benefits administration, Morneau Shepell takes a holistic approach to beneĂžts retirement services, absence management and employee assistance. We provide the tools and expertise to help organizations solve complex problems to improve productivity and engagement, wellbeing,and and financial security.
adminsolutions@morneaushepell.com www.morneaushepell.com
HR Benefits: Technology and Experiences that Exceed Expectations As the leading provider of technology-enabled HR services that deliver an integrated approach to employee wellbeing, Morneau Shepell has been a valued partner to OTIP since 2014. We continuously deliver innovative solutions to their members that support the mental, physical, social and financial wellbeing of their people. With unmatched industry experience, Morneau Shepell has been providing plan administration services for more than 50 years. We serve mid-sized and large clients, including complex organizations with multiple locations, across all industries, in both the public and private sectors. We support nearly 9,000,000 members through our administrative solutions and have an average client size of 15,000 participants in our North American Health and Welfare client group. Our teams of industry professionals and IT specialists are trusted advisors, subject matter experts and technology enthusiasts. We provide flexible and integrated benefits and pension administration solutions, employee and family assistance, health and wellness programs, and recognition and workplace learning solutions that support organizations in helping their people be healthy and engaged, all towards delivering measurable gains in productivity and results. Morneau Shepell’s proprietary benefits administration software is a highly configurable system designed to efficiently implement and execute client-specific provisions and processes. The complexity of benefits administration can be magnified and made prohibitively costly to organizations that lack the right technology platform. Our advanced enterprise technology provides a comprehensive and innovative single system for all benefit administration solutions, and is specifically designed to support complex organizations. Our highly flexible technology seamlessly integrates with clients’ existing platforms and infrastructures while providing the security and compliance that is absolutely crucial. Integral to our advanced platform is intuitive design and navigation so participants can easily interact with the system, and gain a benefits experience that meets their consumer technology expectations.
Paul Sywulych @ Morneau Shepell
Online self-service on any device is standard, with features and functionality covering all aspects of benefits and pension administration, including decision support tools and an AI virtual assistant. “Morneau Shepell has been partnering with us for over six years. They have helped OTIP through a digital transformation process by streamlining our benefits administration solution. The value of offering a single system to our members that simplifies the administration process and delivers the services that participants want and need has enhanced the experience for both administrators and plan participants. As our organization continues to digitally transform and grow, having a proven and reliable partner that understands our culture and truly cares about our members is invaluable.” – Stacey Rous, Executive VP and Chief Financial Officer, OTIP Now more than ever, organizations need a complete benefits administration solution that utilizes the latest technology and a single platform to improve accuracy and productivity, but also helps participants improve their lives. Morneau Shepell’s solutions deliver advanced technology for simpler, more cost-effective management that improves participant wellbeing, engagement and overall financial security. Our approach spans services in employee and family assistance, health and wellness, recognition, pension and benefits administration, retirement consulting, actuarial and investment services. By improving lives, we improve business.
O N TA R I O T E A C H E R S I N S U R A N C E P L A N ( O T I P )
“ We are a people-first organization. There will always be tweaks to how we work, but our core strategy of ‘people first’ has not and will not change” — Stacey Rous, EVP & CFO, OTIP
Achieving this incredible feat was not easy, and not done alone. Rous says that OTIP’s partners and stakeholders have been vital in adopting this work from home strategy. “Prior to COVID-19 we didn’t have the system capacity for everyone to work from home. We had been planning for 20 to 25%, but certainly not 100%. Our partners really stepped up to help us implement this capability once the healthcare sector was under control, allowing us to stay connected to our
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employees and members.”
The OTIP Story CLICK TO WATCH
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1:53
E X E C U T I V E P R OF IL E :
Stacey Rous Stacey Rous is the Executive Vice President and Chief Financial Officer at OTIP, Ontario Teachers Insurance Plan. OTIP serves the education community across Ontario, providing health benefits and other insurance needs as a not-forprofit Trust. At OTIP, Stacey is responsible for Finance and IT strategy, including financial operations of the company and accountable for the Project Management Office. Stacey is an accomplished financial executive known for achieving financial and service benchmarks by creating a compelling vision, clearly communicating strategies and providing strong leadership. Over the years, Stacey has been helping insurance and health care organizations grow and improve member experience with her finance and operational expertise. She has more than 25 years of progressive leadership experience in operational finance. Stacey has provided executive financial leadership to the Waterloo Wellington Local Health Integration Network, Allianz Global Assistance and Cowan Insurance Group of Companies. Outside of her role with OTIP, Stacey is
actively involved in building strong partnerships with communities to make a positive impact on social issues such as social isolations, poverty, inequality and mental health. She serves on the Board of the YMCA for Kitchener Waterloo, the Canadian Mental Health Association for Waterloo Wellington and International Women’s Forum Waterloo. She previously served on the IWF Canada Sponsorship Committee to raise funds for the IWF World Leadership Conference. Stacey is an MBA graduate from Athabasca University and holder of CPA designations in Canada and the US. Throughout her career, she has continued to seek educational opportunities and certifications that enhance her finance and operational capabilities, including: Chartered Professional Accountant (CPA, CMA) designation, Certified Public Accountant (US designation), Chartered Global Management Accountant (CGMA) designation and Advanced Health Leadership certification from the Rotman School of Management Executive Program.
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brooklinconsulting.com info@brooklinconsulting.com +1-647-261-6486
Brooklin Consulting: accelerating productivity with OTIP Brooklin Consulting is a management consulting organisation with worldwide experience in several leading industries. The firm helps companies overcome their unique business challenges, discover their greatest opportunities and achieve significant results. Brooklin Consulting has over 30 years of experience in global consulting, primarily focused on productivity improvement, strategic implementation and digital transformation. Brooklin Consulting specialises in achieving measurable results that improve their client’s performance quickly and efficiently. Michael Flemming is the Vice President of Brooklin Consulting. He leads projects to execute strategy and improve productivity, working with both senior leaders and frontline employees. Brooklin Consulting has formed a partnership with Ontario Teachers Insurance Plan (OTIP) to help improve productivity. Flemming believes this collaborative business partnership is essential and is the “archetype” of any successful consulting relationship. “We’re able to build trust, and work closely with every level of the organisation, which is the key to building solutions that drive the largest impact and are sustainable beyond the term of our engagement,” he says. “Every single change, large and small, is developed with the front-line managers responsible for the area. We work through the development and testing of solutions, but most importantly, we see those changes through to implementation. The collaboration between consultants and operating managers ensures changes are not just theoretical, but drive improvements in the real world.” When seeking to establish a mutually beneficial and sustainable partnership, Flemming has a clear idea of what he looks for. “We find that the most successful relationships are the ones where we collaborate through every step of the process, regardless if the problem is big or small,” he explains. “We’re prepared to work with clients through every step of the journey to find a solution that is going to succeed. Solutions developed together are always the most successful, and that is a key reason for the strength of our relationship with OTIP, and a key reason our projects have consistently generated 3:1 returns in their first year, while at the same time improving customer service and satisfaction.”
BizClik Media Interviews Michael Flemming, VP at Brooklin Consulting
Over the next few years, Flemming expects the future of Brooklin’s relationship with OTIP to continue to thrive as new technology shakes up the industry. “Organisations like OTIP need to be nimble and ready to change at a moment’s notice in order to stay competitive, and I expect key trends revolving around robotics and AI will push analytical decision-making to the next level and provide better quality to customers,” says Flemming. “We’ve been able to install a culture of continuous improvement with OTIP and help adopt those trends quickly and in a meaningful way. I believe the continued strength of our relationship will allow for those future opportunities to be adopted efficiently and robustly.” Stacey Rous, EVP & CFO at OTIP, says “The team at Brooklin Consulting has supported OTIP through several improvement projects over the past two years, each resulting in a significant return on investment. Their methodology has helped us transform our management operating system, allowing for better analytics, faster decision-making, and ultimately improved service to our members. Most importantly, they have helped our people to see challenges as opportunities, leaving behind an approach to continuous improvement that carries on internally beyond the term of their engagements. I would strongly recommend their services to organizations looking to improve their operations.”
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“ My best advice for girls and women looking to get into tech is to seek out a mentor or coach in the industry” — Stacey Rous, EVP & CFO, OTIP
the pandemic. “Our industry is under extreme financial pressure. People’s driving habits have changed, and there is an expectation that auto premiums will reduce accordingly. At the same time, the closure of things like dental offices and other health providers creates a mountain of questions for us and our members on how we handle things like claim limits, cancelled procedures and benefit premiums during and after the pandemic.” Rous believes that technology will be key as COVID-19 continues to change how organizations and the insurance
Rous adds that she is extremely
industry continues to operate. Post
proud of how OTIP’s employees have
pandemic, she says, a digital mindset
adapted, driving new ways of con-
should be seen as a way of doing
necting with its members, clients and
business, whether that be on-line
employees, but at the same time not
virtual doctor’s appointments, or using
exhausting them with the technology.
Telehealth and Telemedicine more
“Our members and our management
proactively. “COVID-19 should teach
teams are very accepting that there
us that it’s okay to do some things digi-
may be children in the background,
tally. We need to harness what we’ve
dogs barking or doorbell rings from
learned through this and not go back to
home deliveries, which previously
the old normal where it doesn’t make
would have been considered very
sense. Many of these technologies
unprofessional.”
are so powerful, and they will be cost
She adds that the insurance industry itself has not escaped impact from
effective for both our community and our healthcare system .” w w w.i nsur te c hdi gi t a l. com
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O N TA R I O T E A C H E R S I N S U R A N C E P L A N ( O T I P )
While Rous thinks that we are a long way from a post COVID-19 world, she does believe that “we are entering into a new normal and that the industry is going to have to settle. For me the future is about the financial stability of a company going forward. I think the finance and the tech folks are going to have their hands full for quite some time.”
TECHNOLOGY TRENDS IN INSURANCE Looking past the current pandemic, Rous highlights that digital innovation, 120
artificial intelligence (AI) and data are still the overriding trends in the insurance industry, adding that “these are the technologies that allow us better understand and service our members.” She details that, at the core, OTIP’s digital transformation strategy is designed to streamline communication and harness data analytics, using a data warehouse and data mapping to provide a seamless service to its members. “This is something that is still ongoing for us at OTIP. We have only just scratched the surface of this journey, however, the recent hiring of a new director of data and digital technologies supported by a dedicated team is going to allow us to really grow this potential.” J U LY 2 0 2 0
“ COVID-19 should teach us that it’s okay to do some things digitally” — Stacey Rous, EVP & CFO, OTIP
When it comes to adopting innovative technology to drive this strategy, Rous explains that the organization started using robotics in collaboration with RPAI and Blue Prism Software. “We were one of the first in Canada in 2016 using robotics to reduce the amount of non-value-added tasks from our people,” she explains. For OTIP, Rous continues, the use of robotics is seen as an extension of its workforce. “Our employees like it because they can focus on the valueadd work for our members.” Rous continues, saying that even though OTIP was one of the first in Canada to use robotics, it was doing very small projects. “We were more in the investigation stage, using it to understand how our members wanted to do business with us. Now, with our new director and dedicated team, we are ramping up our innovation and adoption of robotics for automation.” With regards to developing these technologies, Rous stresses the importance of strategic partnerships. “Our strategic partnerships with Rogers, our internet provider, or Central Logic, lay the foundation and w w w.i nsur te c hdi gi t a l. com
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our insurance partners like Morneau,
“From a woman in tech perspective, we
Manulife, Economical and Aviva, are
have a number of BSA and data spe-
all intertwined. We don’t want to build
cialists – at least 50% – that are women,
our own tech, we want to build our own
which we are doing very well in,” she
intelligence around our members with
explains. “On the traditional side of
the help of the technology our strategic
tech, such as networking systems, the
partners provide. You don’t need to
figures are slightly less with about 25%
own those technologies, you need to
being women.”
leverage those technologies.”
Outside of the working environment, Rous explains that the organization has
WOMEN IN TECH
key people helping young girls learn
Rous believes strongly in the inclu-
code, known as girls for coding, to
sion of women in tech, a mindset that
promote females joining the industry.
is shared by the entire organization.
“However, I think it is still a generation
OTIP Sponsorship of Schools Projects and Initiatives CLICK TO WATCH
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O N TA R I O T E A C H E R S I N S U R A N C E P L A N ( O T I P )
124
away. Currently schools are working
is about finding people who you trust
to get the materials needed to show
and are willing to help you navigate the
girls the opportunities within the STEM
challenges you will face in this industry.
industry, but it is going to take time for
Don’t try and do it alone. You need
young girls to see themselves as coders.”
people out there advocating for you.”
Rous, seen by many as a leader and a mentor herself, shares that she did
WHAT THE FUTURE HOLDS
not get where she is today by herself.
Returning to the organization’s strat-
“My best advice for girls and women
egy, Rous reiterates that regardless of
looking to get into tech is to seek out
COVID-19 or changes in technology,
a mentor or coach in the industry. I
OTIP’s member-first approach has not
cannot underscore the importance of
changed. “We are a people-first organi-
finding people to help you through your
zation. There will always be tweaks to
career. Gender isn’t important here. It
how we work, but our core strategy of
J U LY 2 0 2 0
‘people first’ has not and will not change.” Throughout the pandemic, OTIP has been active in the communities it serves, donating more than $250,000 to food banks and mental health associations across Canada. “I’m on the Canadian Mental Health Association of Waterloo Wellington and a recent study highlighted that 70% of us are feeling isolated due to that lack of connectivity, which is having a detrimental effect on all our mental health right now.” In addition, she continues, 70% of those same survey respondents said they were concerned about becoming
“ The recent hiring of a new director of data and digital technologies supported by a dedicated team is going to allow us to really grow this potential”
sick from COVID-19, or losing someone close to it. “This crisis remains at the top of everyone’s mind. Given the corresponding mental health challenges we are going to see from an industry perspective, we need to be ready to help the people that maybe unwell, and be there for both employees and members to help them.”
— Stacey Rous, EVP & CFO, OTIP
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126
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CodeBlue: Leading an industry
WRITTEN BY
AMBER DONOVAN-STEVENS PRODUCED BY
ANDY TURNER
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127
CODEBLUE
Jason Manns, COO of CodeBlue, details the rise of insurtech as CodeBlue leverages science and cutting-edge technology to meet industry challenges
T
echnology is transforming every industry, and insurance is no exception. The landscape is rapidly evolving and with
this, insurance companies are challenged with managing change. The transformation toward digital solutions creates an opportunity to have 128
a better understanding of customer behaviours and to provide immediate customer solutions. When harnessed successfully, these newly acquired technologies improve policyholder satisfaction while reducing costs for insurance carriers. Jason Manns, COO of CodeBlue, has over 25 years’ experience in the personal and commercial lines insurance industry. As a transformational change leader, he has led claims and operations for a number of insurance carriers with a passion for delivering best-in-class performance, while ensuring that the customer experience is at the heart of decisions. As an insurance executive, Manns has seen the insurance industry begin to slowly shift with technological adoption advances and, consequently, sees three of the most significant challenges J U LY 2 0 2 0
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CODEBLUE
“ The insurance industry is paying close attention to the technological advancements of other industries but continues to significantly lag behind in the adoption rate of the innovations that exist today in the marketplace” — Jason Manns, COO, CodeBlue
The second challenge insurance carriers face is the embedded inefficiencies in the claim handling process
130
currently faced by insurance carriers.
from inadequate initial claim damage
The first is the effective management
evaluations. “For example, it is common
of labour and the expenses associ-
for insurance carriers to experience 25%
ated with insurance carrier workforces.
to 40% supplemental claim payments
“This is particularly important because,
due to inaccuracies in the initial
in today’s low unemployment rate
damage evaluation process.” Today,
economy, there are shortages of
technology is available to provide
qualified and technically proficient
real-time digital capture of damages
insurance staff. I expect the virtual
at the policyholder’s initial loss report,
technologies that are now available
reducing supplemental work.
will significantly change traditional
Lastly, policyholder engagement
insurance carrier staffing models,”
presents a new challenge. The expec-
he says.
tations of customers have increased to the point where an Amazon-like standard of service, with same-day turnarounds between orders and deliveries, has become the norm. “This level of service with regards to policyholders seeking immediate same-day property claim inspections
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Join the CodeBlue Revolution CLICK TO WATCH
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131 and contractor on site arrivals is typi-
insurance claims management pro-
cally unheard of across the insurance
vider with full scale customisable
industry,” says Manns. “There is a mas-
solutions. Drawing from his experi-
sive potential for insurance carriers
ences in the insurance carrier industry,
to catch up to what other industries
he focused on immediate policyholder
are doing.”
actions at first contact and the contin-
Early in CodeBlue’s inception,
ued development of proprietary claim
Manns — while working at an insur-
management software with digital
ance carrier — was involved in the
technologies. This included virtual
development of CodeBlue’s proactive
inspections strategies that provided
claims management model, which
solutions for insurance carrier staff
was and continues to be significantly
to view loss damages real-time and
different than all others in the industry.
remotely. “Insurance carrier staff
Today, Manns leads the operations
can now view initial damage inspec-
at CodeBlue, an industry-leading
tions from their office in a few hours w w w.i nsur te c hdi gi t a l. com
Let us grow together. Bamboo is a newly formed insurance organization, backed by some of the largest carriers in the industry, and established on the principles of customer advocacy and transparency. We aren’t looking to reinvent the wheel, but to add some grease that ultimately delivers a smooth and pleasant experience for our Customers.
Learn more
LEARN MORE
CODEBLUE
CodeBlue Join the Revolution #2 CLICK TO WATCH
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1:59
134 after claim notification as opposed
reporting of claims, CodeBlue has
to having to be physically present at
advanced this by providing a 24-hour
the site, removing the additional costs
service, available 365 days a year,
incurred with travel time and fleet
for first notice of loss claim reporting
vehicles,� says Manns. In addition,
with virtual damage inspections and
virtual damage inspection solutions
contractor integrations that provide
reduce vehicle usage, promoting envi-
immediate actions for policyholders.
ronmentally friendly carbon practices
This approach maximises the accu-
and are a strategy that can be used to
racy of initial damage inspections
protect staff against exposure to air-
while driving high levels of policy-
borne viruses and contaminants often
holder engagement. In addition to
found at loss locations.
this, says Manns, “insurance carriers
While it remains an industry stand-
include policy language that stresses
ard to use call centers to interact
the policyholder’s obligation to pre-
with policyholders during the initial
vent additional damages at the time
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of the loss by taking the needed
as “First Notice Of Loss” claim report-
actions. However, policyholders often
ing, but instead, we call it “First Notice
need greater levels of assistance in
And Response” with immediate actions
the claim process than they typically
for policyholders.” Vault Insurance
receive.” This is where CodeBlue’s
Chief Claims Officer, Peter Piotrowski
combination of technology, staff with
stated, “by partnering with CodeBlue,
property subject matter expertise
we can leverage best-in-class technol-
and contractor network, are lever-
ogy to respond quickly with the right
aged to ensure insurance carriers
resources and skills to policyholders.
and policyholders receive immediate
Together with CodeBlue, customers
actions that translate to science-
will always receive efficient, empa-
based outcomes. Manns explains,
thetic and personalised assistance,
“because of this advanced approach,
leveraged by technology in order
we no longer refer to our process
to deliver the best repair services.
E X E C U T I V E P R OF IL E :
Jason Manns Title: Chief Operations Officer Industry: Insurance
Company: CodeBlue
Location: United States
Jason Manns is the Chief Operations Officer at CodeBlue, an industry-leading insurance claims management provider servicing North America. Jason has over 25 years of experience in leading claims and operations at insurance carriers at the executive officer level. At CodeBlue, Jason is responsible for overseeing and scaling company-wide operations, including the continued development of proprietary claim software with digital applications that support virtual damage inspection strategies for insurance carriers. He is passionate about working with personal and commercial lines insurance carriers to provide property claim solutions that assist in making technology transformation easier. w w w.i nsur te c hdi gi t a l. com
135
CODEBLUE
D ID YO U K N OW?
The CodeBlue Flood House Experience
136
Facilities That Embody The CodeBlue Culture CodeBlue is headquartered in Springfield, Ohio, USA, with two additional offices in Hudson, Ohio, and Eau Claire, Wisconsin. Much like the company itself, CodeBlue’s headquarters in Springfield, Ohio, is a blend of history and innovation. CodeBlue is located in the historic 1893 Bushnell Building, where the Wright brothers patented their design for the airplane. The building renovations since its erection have achieved Platinum LEED (leadership in energy & environmental design) Certification by the U.S. Green Building Council (USGBC). J U LY 2 0 2 0
In the CodeBlue flood house, they train and certify (IICRC S500) CodeBlue staff, insurance carrier staff, and contractors to be subject matter experts on the science of drying. The Springfield OH, CodeBlue flood house has been flooded with 1,500 gallons of water over 200 times since being built in 2011. “In this live water damage home environment, we demonstrate and teach the science of drying with participants using industry water and fire mitigation equipment to understand what is possible using today’s technology. Participants witness the ability to dry and restore wet materials such as carpet, hardwood flooring, cabinets, trim, and drywall versus replacing materials. This enables CodeBlue to return policyholders to pre-loss condition in the fastest and least disruptive manner.” CodeBlue has a 2nd flood house used to train and certify staff, built in 2007 in Eau Claire, Wisconsin.
137
Classroom teaching session with Ed Jones in the CodeBlue Flood House Vault Insurance and CodeBlue are
smart-connected homes and buildings
united by the same ethos: excellent
that measure the inside environmental
customer service.”
conditions. These emerging technolo-
“The insurance industry is paying
gies provide insurance carriers with
close attention to the technological
missing data points and consumer
advancements of other industries but
behaviors to better predict underwrit-
continues to significantly lag behind
ing risks, loss frequency and all of the
in the adoption rate of the innovations
costs associated, as well as the ability
that exist today in the marketplace,”
to take actions to avoid losses through
Manns notes. “We are seeing innova-
virtual real-time policyholder interac-
tions ranging from automotive loss
tions. The opportunity exists for
avoidance capabilities and self-driv-
insurance leaders to challenge the
ing vehicles, aerial photography
status quo in their organisations,
and the use of drones, to IoT
embrace available technologies, w w w.i nsur te c hdi gi t a l. com
T H O UG HTF UL, SIM PLE, DYNA M IC
Vault is the new standard in personal insurance.
Vault is the new standard in personal insurance. Everything we do from building superior insurance products to interacting with our customers, is just that: personal. Our business is about empowering people to live spirited, passionate, and fulfilled lives, and we’re deeply committed to creating an unrivaled experience for our agents and our customers. Our mission is to create the perfect balance between living life and protecting it, and where the status quo doesn’t cut it, we’re rethinking insurance. Easier to do business with. Insurance should feel intuitive and direct. At Vault we work obsessively to make this a reality. We’re constantly reinventing how the technology we build saves customers time -- from how our bespoke insurance plans are generated to how we’ve redesigned the billing process for a more intuitive, less cumbersome process.
The luxury of support for all. Simply put, Vault is protection done in a new way -- the broadest coverage on the market today, with real humans, prioritizing real lives in the background. Customers will feel supported by Vault before a claim is ever filed. After all, we’re here to make their lives less stressful, not more complex.
The tenacity of a startup with backing you know and trust. Vault is backed by significant financial and operational support from Allied World, a global insurance and reinsurance company. Our team is led by top industry veterans focused on developing a better holistic experience for customers, because we believe you can have it all.
Learn more at vault.insurance or contact us at 844 36 VAULT (82858)
CODEBLUE
140 I N DU ST RY FACT S
According to US Housing Study and Chubb Water Survey, 1 in 12 homes experience a plumbing leak each year with more than 2.5 million US homeowners experiencing water damage (excluding f looding) annually. US$10bn is paid annually by US insurance carriers to repair water damage (excluding f looding) each year.
J U LY 2 0 2 0
and to become champions for change
For example, insurance carrier staff
to improve existing insurance models.�
can typically drive to inspect five to
To add to this, Manns asserts that
eight claims in a day, yet with the utili-
the fast emergence of startups in the
sation of digital technologies, the
insurtech space supports that there is
same staff member can virtually
evidence of insurance carrier sectors
inspect between 15 to 20 claims
dedicated to financially supporting
a day. This approach maximises the
this evolution. We are seeing insurance
accuracy of initial damage inspec-
carriers use emerging technologies
tions, reduces expenses and delivers
in the claim process to evaluate dam-
high policyholder satisfaction.
ages to the exterior of houses and
Another CodeBlue advantage is
buildings, but often overlook using
its proprietary claim software specific
available technologies in the evaluation
to each property line of business:
of damages to the interior of the home
water and fire mitigation, reconstruc-
or building. This is where CodeBlue has
tion, contents and inventory. These
become an industry leader, differenti-
are digitally connected to photo and
ating itself from its competitors by
video chat technologies that give
having the best-in-class interior vir-
the insurance carrier staff the ability
tual damage inspection solutions.
to confirm the cause of loss, verify w w w.i nsur te c hdi gi t a l. com
141
CODEBLUE
142
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Policyholder Video CLICK TO WATCH
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CODEBLUE
144
coverage and evaluate damages in
Information Institute, this averages
real-time at the loss location. At the
out at a cost of US$9,633 per claim.”
same time, personalised assistance
“Here is a pipe break example. The
is provided to the policyholder so that
insurance carrier directs the policy-
immediate action is taken to avoid
holder to report the loss to CodeBlue,”
additional loss damages and to start
says Manns. “Through targeted ques-
the repair process. Manns comments,
tions, CodeBlue identifies loss
“In the world of insurance property
specific details and uses a scientific
claims, one of the most frequent
algorithm in our proprietary database
losses are water-related damages
of 3,100 certified contractors to
caused by broken pipes and leaks.
select the best contractor for the job.
According to the Insurance
The chosen technology enabled
J U LY 2 0 2 0
contractor arrives at the loss location within four hours. CodeBlue staff complete a virtual damage inspection video chat with the contractor and policyholder on-site, which provides insurance carrier staff the needed information — such as measurements, materials, and a sketch document — to be able to evaluate the loss damages from their office.” After this, CodeBlue’s certified IICRC staff use the proprietary software with the sci-
“ We’re highly customisable to insurance carriers and provide a suite of property claim solutions and virtual damage inspection strategies that insurance carriers can choose” — Jason Manns, COO, CodeBlue
ence of drying to proactively create
insurance carrier field staff coverage
a water mitigation drying plan with
locations,” he says. “Our success
the on-site contractor to restore wet
is driven by our ability to identify the
materials instead of replacing them.
best virtual inspection solution for
This keeps the focus on returning the
each specific claim, with inspection
policyholder to pre-loss condition
methods including policyholder self-
in the fastest ,most efficient and and
service, contractor dispatch, and the
least disruptive manner possible.
deployment of CodeBlue W2 staff.
To deliver the highest level of detailed
All virtual damage inspections utilise
loss documentation, CodeBlue uses
our proprietary claim software and
a combination of 3D cameras, digital
digital technologies to meet a policy-
applications and video chats to cap-
holder’s specific needs. This assists
ture the loss in a virtual environment,
insurance carriers with the effective
which allows insurance carrier staff
management of labor and the expenses
to tour the site from their computer
associated with large workforces,
or mobile device. “Our virtual damage
while reducing the inefficiencies of
inspection solutions vary and are
supplemental claim payments.”
determined by the type of loss and
Bamboo Insurance founding member w w w.i nsur te c hdi gi t a l. com
145
CODEBLUE
“ Our success is driven by our ability to identify the best virtual inspection solution for each specific claim, with inspection methods including policyholder self-service, contractor dispatch and the deployment of CodeBlue W2 staff” 146
— Jason Manns, COO, CodeBlue and Chief Advocacy Officer, Stann Rose, explained: “Code Blue’s partnership and technology has enabled Bamboo Insurance the ability to scale operations from a startup into a high
Since no partnership is the same, Manns
growth company by providing imme-
emphasises the importance of listen-
diate information gathering, coverage
ing to partners to understand their
identification and faster claim han-
desired operating model and individ-
dling which has translated to high
ual needs. “We’re highly customisable
policyholder satisfaction.”
to insurance carriers and provide
CodeBlue partners with companies
a suite of property claim solutions and
throughout North America, including
virtual damage inspection strategies
three of the top 10 insurance carriers
that insurance carriers can choose.
in the US, regional insurance carriers
Insurance carriers like to partner with
and insurtech-like startup companies.
established companies with a history
J U LY 2 0 2 0
2004
Year founded
$63mn Revenue in US dollars
455
Number of employees
of success, while simultaneously
solutions centered on virtual inspec-
providing innovative services with
tion strategies inside the home and
technology at the core. CodeBlue
building, they continue to focus on
has been providing property claim
the next innovation to achieve best
solutions to insurance carriers since
-in-class performance levels for poli-
2004 and is leading the way in making
cyholders and insurance carriers.
technology transformation easier for insurance carriers that choose to embrace innovations.� While Manns and the CodeBlue team provide industry-leading property claim w w w.i nsur te c hdi gi t a l. com
147
148
Empowering clients with new technology and services WRITTEN BY
WILL GIRLING PRODUCED BY
ARRON RAMPLING
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PPI BENEFITS INC.
Ed Hofstede, President, and Inthida Ngeth, Vice President of Operations, explain how PPI Benefits is prepared to deliver a modern benefits programme
P
art of Canadian insurance and financial services company PPI, PPI Benefits is an experienced team of consultants
and third-party administrators for group benefits. With a reputation for outstanding customer service and cutting-edge proprietary solutions, the 150
organisation provides access to plans that cover over 1,000 businesses across Canada, tailored to suit that particular enterprise’s individual needs. An expert in its field, the company offers technical support, consulting services, comprehensive implementation services, a range of benefits plans and more, all for an affordable, manageable cost. The success and results of PPI Benefits are driven by its leadership team, who join together in a united effort to promote the best services for clients. Ed Hofstede, President, has been in the insurance sector for over 30 years and calls PPI – “a major player in the Canadian insurance marketing sector” – a natural evolution in his career. Joining the company almost 15 years ago, he started out as a Regional Leader at PPI Financial Group before going on to become the J U LY 2 0 2 0
151
1995
Year founded
60
Number of employees
w w w.i nsur te c hdi gi t a l. com
The group benefits market has changed. Have you? Whether you’re an insurer, MGA, or broker, your customers are demanding more from you today than ever before. Faster time to market when designing plans, group on-boarding and employee enrolments are table stakes. Your customers are now looking for efficiency with real-time integrations that lower manual processing, personalization and mobile enablement, all with the idea of shifting focus to a customer-centric approach. Oliver Enterprise Digital Platform is backed by our comprehensive premium billing engine that enables better customer engagement and improves overall operational effectiveness. Oliver is a platform you can trust to deliver a digital-first experience for your customers. Learn more at Oliver.app
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PPI BENEFITS INC.
E X E C U T I V E P R OF IL E :
Ed Hofstede Title: President Location: Toronto, Canada
Vice President (VP) of Marketing at PPI Advisory, the VP of PPI Benefits and finally President in 2016. Inthida Ngeth, VP of Operations, on the other hand, came up via a slightly less linear path. “I don’t have much background
154
Ed Hofstede is President of PPI Benefits and its fast-growing administration division, CustomCare, where he has embraced technology to build one of Canada’s leading Third Party Administrators (TPA’s). As a prolific idea generator, Ed has reshaped companies through focus on a differentiated customer experience, team building, and revenue growth. Ed believes that people perform their best when they enjoy being at work so he tries to keep things light and even serious meetings are rarely concluded without a few rounds of laughter. His formula for business is: (Innovation + Execution) X Caring = Success Ed is a passionate, vibrant speaker and an active advocate for workplace and youth mental health initiatives. When not working, you will likely find Ed with family, golfing, exercising, or playing guitar. J U LY 2 0 2 0
in employee benefits or insurance per se,” she explains. “My background is in technology, consulting and telecoms; I worked in different roles across various industries before focusing on technology transformation.” Ngeth states that PPI’s open attitude towards digital innovation and its desire to
leverage technology to improve its
change should look like. “I’ve tried to
customers’ and advisors’ experience
always view our business as working
is what encouraged her to join in early
through advisors to help their clients
2019. “I wanted to be part of something
create healthy, engaged, loyal and
exciting and evolutionary; the industry
productive employees,” Hofstede says.
is changing right now.”
He identifies this simple strategy as
Change is certainly in the global zeit-
integral to helping PPI’s clients provide
geist – whether socially, economically
necessary services and be success-
or technologically motivated, in the
ful. “ We believe our role goes beyond
digital era, most businesses are finding
simply employee benefits and pension.
that the only way to stay relevant is to
Our mission is to help clients improve
identify trends and adapt to them. In
their work environment and build an
this regard, PPI Benefits has a clearly
exceptional employee experience for
defined view of what good industry
the modern world.”
PPI Business Formula CLICK TO WATCH
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155
Group benefits made easy Insight-driven integration and innovation Insurance & Investments Simple. Fast. Easy.® The Empire Life Insurance Company. ® Registered trademark of The Empire Life Insurance Company. Group-PPI-Custom-Care-Ad-half-page-2020-05-EN-v3.indd 1
beyond
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1.866.383.6646 x227
2020-05-19 2:21 PM
PPI Benefits: The Advisor centric TPA CLICK TO WATCH
|
0:29
157 This ability to see beyond the mere
contrast that with the Actual results
product or service which it provides is
they are currently achieving,” explains
what gives PPI its edge and continues
Hofstede. Focusing on the two ‘Ps’ –
to inform its approach. Having worked
Possibilities and Priorities – PPI helps its
with some of the top advisors in the
clients identify what’s important to them
country, PPI has developed a sophisti-
and how to execute an effective plan.
cated mode of operation which factors
Access to the latest technology and
in high business ethics, technological
an integrated system for deploying it
innovation and a strong, customer-
is crucial to this operating model, and
centric philosophy. “We use what we
that, in turn, requires a well thought
call a ‘G.A.P.P. consulting methodology’:
out digital transformation. “We know
we look at the goals set by the client,
what our member and advisor jour-
understand why they are running a
ney should look like in terms of what
benefits programme and what they
we aspire to and how we want to
are trying to accomplish, and then we
transform in each of the steps,” says w w w.i nsur te c hdi gi t a l. com
PPI BENEFITS INC.
Ngeth. Taking an iterative approach,
problems and allows staff to focus their
PPI Benefits has begun to deploy AI
energy on more critical client-facing
(artificial intelligence) in increments to
activities. “I want to automate the
automate less crucial functions whilst
predictable so we can humanise the
gradually developing larger tech solu-
exceptional,” he adds. “It’s all about
tions. It’s an approach that allows the
making PPI Benefits really effective
company to constantly be achieving a
and efficient on the predictable pro-
string of small victories which will add
cesses so that we’ve got more time
up to a larger goal. After all, Hofstede
to deal with people.”
says, repetitive data-entry tasks are
158
Handling the vast amounts of data
tedious for employees and subject to
relevant to the insurance sector and
manual error. Transferring the respon-
placing it in an integrated environment
sibility of these tasks from humans to
for analytics software led PPI Benefits
machines eliminates this margin for
to start moving to a cloud-based
PPI Automation & AI CLICK TO WATCH
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2:16
platform – the company as a whole is actively transitioning to the cloud. Gathering, analysing and presenting that data to advisors and clients forms one of the company’s biggest techno-
E X E C U T I V E P R OF IL E :
Inthida Ngeth Title: Vice President, Operations Location: Toronto, Canada
logical challenges. “We’re looking to evolve how we gather the information in a way that is easier and more consolidated in one location. From there, we can slice and dice it any way we want and structure it accordingly to make it meaningful,” Ngeth states. In the digital era, where data is king, knowing how to extract value from it and use historical
Inthida Ngeth is Vice President of Operations at PPI Benefits. She oversees P&L performance across divisions and leads all facets of operations. As a value builder and connector, Inthida thrives on bringing vision, ideas, and people together to create new potential. With 15 years of experience across the insurance, tech, consulting and telecom sectors, she has led organisations and teams to exceptional growth, by leveraging her diverse operational, marketing and strategic background to deliver impactful results and create customer-first solutions and services. Passionate about helping others develop and succeed, Inthida is a coach and mentor, and serves as an advisor for a portfolio of emerging startups. She is also an active champion for diversity and inclusion and the advancement of women in leadership.
w w w.i nsur te c hdi gi t a l. com
159
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www.ppi.ca
patterns to determine decision-making,
we also know that there are a growing
predict and inform risk assessments
number of millennial clients coming
is PPI’s objective. However, far from
through, and sometimes they may also
being purely utilitarian, Hofstede
value interacting with a chatbot, so we
emphasises that a technological
need that capability too.”
approach is crucial to business conti-
Despite a strong tech underpinning
nuity with a new generation of people
to its operations, PPI Benefits ensures
with different expectations. “PPI is
that the human touch is never lost at the
starting to use AI in the customer ser-
customer service level. The company is
vice realm and there’s an opportunity
also careful to ensure that its staff can
to use it for some of our narrower prod-
wield the digital tools they are equipped
uct deliveries. Our wonderful people
with securely. Indeed, cybersecurity
have always been an important part
is a top priority of both clients and the
of PPI Benefits’ value proposition, but
modern, digitalised insurance sector.
PPI AI + Machine CLICK TO WATCH
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161
PPI BENEFITS INC.
162
“ Our role goes beyond simply employee benefits and pension. Our mission is to help clients improve their work environment and build an exceptional employee experience” — Ed Hofstede, President, PPI Benefits
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The company’s focus on digitisation couldn’t have come at a more fortuitous time; the coronavirus (COVID-19) pandemic has made global businesses question the integrity of their previous ways of operating and seek out more advanced solutions. In this uncertain, new environment, Hofstede says that forging a way forward is “about picking partners that PPI can work with to deliver the digital employee and advisor experience” that it envisions. Critical to helping PPI Benefits on this journey so far have been companies like Oliver, a modern benefits and pension administration software company; and Venngo, a work-perks group discount programme, and IA Financial Group. Although they all collaborate with PPI Benefits on different things, Hofstede explains that there’s one consistent element that these relationships are based on: trust. “One of the first things PPI Benefits does is assess the reasonableness of their promises and commitments. We deal with partners and suppliers every day, so we have to ensure we’re comfortable dealing with them. If we choose to work with them, it’s because they provide high-quality goods and services, they’re ethical and they work well with our team.” w w w.i nsur te c hdi gi t a l. com
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PPI BENEFITS INC.
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“ I think, more than anybody else, we’re poised for success with our foundation of technology. PPI Benefits is optimistic because we know the possibilities and how to reach them” — Inthida Ngeth, Vice President, Operations, PPI Benefits J U LY 2 0 2 0
Although the rest of 2020 will be a challenge, both Hofstede and Ngeth are confident that PPI Benefits has hit the ground running. The changes being ushered in are all about creating a better experience for the people who need PPI’s services, and the company is not being complacent in trying to find out the best way to secure that goal. “These days, you’re not just being compared to other advisors, administrators or insurance companies,” Hofstede says. “Now, you’re being compared to the best experience a customer can
165
have anywhere, dealing with anybody.”
to empowering advisors with new
With companies like Amazon revolu-
technology and services to deliver bet-
tionising the convenience of shopping
ter value for corporate clients. “We’re
and same/next day delivery, why
excited about the future and how we’re
shouldn’t PPI Benefits try to do some-
doing it differently,” Ngeth concludes.
thing similar in its field, he asks. “In
“I think, more than anybody else, we’re
addition to just the traditional benefits,
poised for success with our foundation
dental plan and pension, maybe there
of technology. PPI Benefits is optimis-
could be an employee assistance pro-
tic because we know the possibilities
gramme, a mental health programme,
and how to reach them.”
alcohol treatment program, employee discounts, etc.” Clearly, the sky’s the limit for what a modern benefits programme could be, and PPI is dedicated w w w.i nsur te c hdi gi t a l. com
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A SUPERIOR CUSTOMER EXPERIENCE WRITTEN BY
WILL GIRLING
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PRODUCED BY
JAMES PEPPER
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RAIFFEISEN BANK KOSOVO
Shukri Mustafa, COO/CIO of Raiffeisen Bank Kosovo, describes the bank’s mission to use continuous innovation to improve the customer experience
T
he story of Raiffeisen Bank Kosovo (RBK) begins in 2002, when the Austria-based company Raiffeisen Bank International
AG (RBI) established itself in the territory. Following the 100% acquisition of the American 168
Bank of Kosovo’s shares, RBI rebranded it with its current name in 2003. Offering its individual and corporate customers a wide variety of products and solutions, including financial services, asset management and loans, RBK also prides itself on an innovative approach to banking, which ensures its clients receive the highest-quality experience possible. Leveraged through careful research of the latest technology and strategic investment in its IT and Operations departments, RBK’s thoroughly modern outlook was awarded the first Registered Quality Assurance ISO 20000 certification in Kosovo. Heading up RBK’s digital transformation is Shukri Mustafa, Chief Operating Officer and Chief Information Officer. Coming from a financial, insurance and banking background, Mustafa’s previous J U LY 2 0 2 0
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RAIFFEISEN BANK KOSOVO
“ We are upgrading our core banking system, which will help our front line staff know our customers better by having the analytical CRM in front of them”
experience as an entrepreneur, non-profit manager and relationship manager illustrated to him early on how important linking the customer experience with technology is. When he became a member of RBK’s board in 2007, the Bank implemented a three-point-plan to drive the changes it considered to be necessary: updating out-dated systems, creating an infra-
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— Shukri Mustafa, COO/CIO, Raiffeisen Bank Kosovo
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structural shift and introducing new business applications. “The legacy of our systems made us consider ‘if we
Agile E-banking CLICK TO WATCH
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want to be at the cutting-edge and
Mustafa expounds. “We are upgrading
ready ourselves for the digital changes
our core banking system, which will
that the market will require, RBK will
help our front line staff know our cus-
need to change’,” he says. “So, that’s
tomers better by having the analytical
where we started.”
CRM (customer relationship manage-
Introducing a suite of new electronic
ment software) in front of them.” RBK
services, including e-banking and
has also introduced Viber banking - a
mobile banking, RBK fully embraced
cross-platform IM (instant messag-
the digital era by providing its custom-
ing) application - which enables the
ers with next-gen communications
company to give its clients convenient
and intuitive services. “We introduced
access to necessary services, such
chatbots to assist customer service
as account information, processing
and gain a better understanding of
transactions, balance enquiries and
what people think about our products,”
statement history. Viber also gives w w w.i nsur te c hdi gi t a l. com
STRONGER TOGETHER InfoSoft Systems, specialized in system integration, provides technological consultation, implementation and support services to small, medium and large size organizations. One of first ICT companies, Infosoft Systems has become a regional leader. With over 300 employees in Albania, Kosovo, North Macedonia and several international partnerships, its collaborative approach delivers innovative solutions. InfoSoft Systems is part of the larger InfoSoft Group, which comprises 15 business units. LEARN MORE
open doors and encourage new stu-
Looking ahead to 2020 and beyond,
dents to work for us. We achieve that
RBK, like every bank, must explore
by introducing fresh ideas and ways of
ways to retain its customers and attract
working that young people would like
new ones. “It’s hard to try and market
to see.” The bank is also organising
for Generation X and Y. RBK is meas-
‘hackathons’ at the university, wherein
uring itself at all times to guarantee
students can experiment and explore
customer satisfaction and keeping the
the potential of data analytics. The
organisation alert and agile,” Mustafa
bank’s spirited attitude also led to it
says. This makes defining a clear
recently employing QR coupons in
corporate strategy and liaising closely
stores, utilising augmented reality
with partner companies absolutely
through a downloadable app, in order
essential. Collaborators like InfoSoft
to make banking a more enjoyable,
Systems and Temenos , providers
interactive and fun experience.
of specialised system integration
E X E C U T I V E P R OF IL E :
Shukri Mustafa Title: Chief Operation Officer Industry: Banking
Location: Albania
Shukri Mustafa is a Board Member and Chief Operation Officer at Raiffeisen Bank Kosovo. He is responsible for IT and operations management in the bank. Mr Mustafa leads agile teams that deliver measurable results using tools such as Agile module and Canban. He has twelve-years’ experience in managing operations and IT in his current role. He is also a consultant in Raiffeisen Bank Albania for Operations, IT Area, Project office, Cost Management, Facility Management, Lean Management and IT Security. w w w.i nsur te c hdi gi t a l. com
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RAIFFEISEN BANK KOSOVO
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“RBK is measuring itself at all times to guarantee customer satisfaction and keeping the organisation alert and agile” — Shukri Mustafa, COO/CIO, Raiffeisen Bank Kosovo
solutions, have been essential in helping RBK shape its approach. “As a bank, we invite our partners to sit with us so that they can understand what we want, conduct market research for us and come up with different ideas,” he explains. “InfoSoft Systems and Temenos go further: it looks at things from the client’s perspective and helps us stay one step ahead.” When asked how he would characterise his methodology for implementing digital transformation, Mustafa says that it’s based on offering w w w.i nsur te c hdi gi t a l. com
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RAIFFEISEN BANK KOSOVO
176
“ We want to become the most recommended financial service group on the market”
RBK the opportunity to engage with its customer base in a revolutionary way via personalised promotional activities. Displaying a keen awareness that the symbiosis of people and technology can yield highly successful results, RBK has become a champion of innovative fintech startups and emerging talent within the sector. A platinum sponsor of the University for Business
— Shukri Mustafa, COO/CIO, Raiffeisen Bank Kosovo
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and Technology, Mustafa explains that the company is dedicated to investing in the people who will help to shape the bank going forward. “RBK wants to
encryption. Account fraud, transaction monitoring, data leakage prevention, incident handling, threat intelligence - these are things that clients aren’t directly aware of, yet they’re vital to making clients feel safe when they use our digital channels.” Although investing in the newest technology can yield a more modern experience, what RBK is achieving is a rare feat: a service which feels personal, secure and cutting-edge. Its corporate culture, which prioritises delivering superlative customer experience, is what helps set the bank apart from its competitors. RBK is striving to unite its customers with the superior customer service and making
digital age’s greatest opportunities in
the banking procedure as easy as pos-
a way which feels innovative and fresh.
sible. Whether it is through the use of
“Making sure the customer has an easy
artificial intelligence or machine learn-
experience is very important to us,”
ing software to make data easier to
Mustafa concludes. “The customer
navigate or enhanced security features
experience is RBK’s mission and its
to put customers at ease, RBK is con-
vision. We want to continue to be the
stantly exploring people-centric ways
number one Bank in Kosovo”.
of modernising its products. “We have introduced fingerprinting, face recognition and biometrics,” he explains. That’s on the side our clients see, but, behind the scenes, we also invest a lot in security - especially on data w w w.i nsur te c hdi gi t a l. com
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178
Helping clients navigate risks in uncertain times WRITTEN BY
WILL GIRLING PRODUCED BY
KRISTOFER PALMER
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MARSH
Douglas Ure, President Director and CEO of Marsh Indonesia, shares his thoughts on growing a business and why putting clients and colleagues at the heart of everything is paramount
E
stablishing its national presence in 1983, Marsh Indonesia is part of Marsh & McLennan Companies, a global pro-
fessional services firm specialising in insurance 180
brokering and risk management solutions. The company distinguishes itself by its commitment to an always client-centric mode of operation and a breadth of expertise that focuses on the client’s specific industry for a higher quality of advice and service. Following a merger with Jardine Lloyd Thompson (JLT) Indonesia in early February 2020, Marsh now employs over 200 staff with more than 30 certified practitioners ready to dispense advice and create bespoke insurance solutions. To this end, the company is able to offer a suite of varied and interconnected services to satisfy the needs of its clients, including insurance claims management, valuation services, specialised risk management assessments for core industries and more.
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MARSH
“ Marsh has global strength, a geographical footprint and it covers so many different aspects of the sector” — Douglas Ure, President Director and CEO, Marsh Indonesia 182
The consummate professionalism and depth of knowledge are what first struck Douglas Ure, President Director and CEO, when he joined the company 13 years ago. “Marsh offers something different to a large number of other organisations,” Ure explains. “It has global strength, a geographical footprint and it covers so many different areas of expertise. If you look at the broader Marsh & McLennan Companies, I could not envisage many companies that would match the broad range of expertise across the business.” Starting as a managing consultant within Marsh’s consulting practice based in London, he took on a wider Asia regional role based in Singapore, before taking up his current role as CEO of Indonesia, based in Jakarta. Coming from a background in risk management at Accenture and Primary Group, Ure states that this experience has been invaluable in shaping his approach to the role. “We put our clients at the heart of what we do and that means helping them manage risks through these uncertain times. There’s more risk facing our clients today than ever before: cyber
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183 threats, political uncertainty, terror-
currently looking to set up our digital
ism, war and pandemics,” he says.
team by attracting a lot of people into
Marsh’s aim, then, is to redress the bal-
the Marsh organisations globally who
ance by serving its clients by helping
don’t necessarily have any insurance
them manage those uncertainties and
or risk management experience,” he
positioning them for growth.
says. “Then, the collaboration with
Achieving that goal necessitates
our other teams will ensure that we
a company which knows how to
provide our clients with risk and
assemble a great team and drive col-
insurance solutions in a much more
laboration at all levels of the business.
efficient way.” However, this is a depth
Recently, Ure points out, this meant
of collaboration which doesn’t simply
thinking outside the box in terms of its
rest at the colleague-to-colleague
digital transformation strategy: hiring
level; Marsh also engages its partner
tech-savvy people to augment the
companies to join its mission to put
company’s field of expertise. “We’re
clients first, understand the problems w w w.i nsur te c hdi gi t a l. com
MARSH
184
they face and put forward workable
knowledge to be able to quantify risk,
solutions on the best way to proceed.
the understanding of other common
In combination with financial strength,
associated risks and communicating
stability and overall trustworthiness,
a more effective way to manage them.
this cultural fit is the most invaluable
Ure highlights this as something that
aspect of a partner’s business to Marsh.
the company feels very strongly about.
Coinciding with the rise of the
“Marsh is practicing what it preaches
global digital revolution has been the
by making sure that its operations
proliferation of cyber threats and the
are digitally secured by the right tools
need for greater online security. As
and with the proper infrastructure in
an expert in risk management, Marsh
place to protect both client and col-
has been more than up to the task:
league data.� Despite best intentions,
providing the right advice to help
however, the fast-paced nature of the
clients manage specific risks, the
tech industry means that new threats
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1983
are always appearing just as the old ones are resolved. This means Marsh
Year founded
has to stay agile and be mindful of innovative new developments in order
35,000+
to guarantee best-in-class service. “It’s very difficult to completely remove risk,” Ure says. “The idea is that we’re
Number of employees (Globally)
200+
trying to minimise the increase in risk and manage it effectively.” Cybersecurity is necessarily a primary concern of companies in the
Number of employees (Indonesia)
insurance sector, owing to the voluminous quantities of data which must be gathered in order to operate
E X E C U T I V E P R OF IL E :
Douglas Ure Title: President Director and Chief Executive Officer Industry: Insurance
Location: Indonesia
Douglas Ure is the President Director and Chief Executive Officer of Marsh Indonesia, with over 20 years of experience working in insurance and risk management. He began his career in in the manufacturing sector where he was responsible for corporate risk management and insurance before moving into the consulting industry. Ure joined Marsh in 2007, and has been involved in various roles covering consulting, analytics and claims across UK, Europe, and Asia. Ure moved to Asia in 2014 to be based in Singapore, before moving to Jakarta, Indonesia in 2019. w w w.i nsur te c hdi gi t a l. com
185
Insurance that sees the heart in everything
At MSIG, you are at the heart of all we do. MSIG is about going above and beyond. We do this by doing and being more. We actively strive to exceed the expectations of our customers and clients. We aim to be an active partner and advisor, to give you the support you need when you need it. And we do this to make sure you can be confident in our promise to protect your needs. msig.co.id Home | Motor | Personal Accident | Fire | Cargo | Travel | Engineering
“ We put our clients at the heart of what we do and that means helping them manage risks and through these uncertain times” — Douglas Ure, President Director and CEO, Marsh Indonesia
advice,” Ure explains. Bringing together the various strands of a digital transformation could prove challenging, particularly in the Asia Pacific market which has some disparity between the needs of emerging and developed sectors. However, the company understands that, geographically, everything doesn’t move at the same pace and that different countries or regions have specific requirements. Unfortunately, the event which has framed remote working as a key work trend globally, COVID-19
effectively. Marsh is no different and
(coronavirus), is still around and is
already invests significant resources
likely to shape the fortunes of whole
into its analytical capabilities, helping
industries, let alone individual com-
it assess data to help clients make
panies, for at least the next year.
informed decisions. Developed tech-
However, Ure believes that Marsh’s
niques include its Marsh Analytics
decades of experience in the field
Platform (MAP), Global Loss Data
of risk management has it perfectly
Library (LDL) and its Economic Cost
poised to support its clients and col-
of Risk (ECOR) measure. “Making
leagues as they navigate this very
sure that the data collected is help-
uncertain time. “COVID-19 is going to
ful and meaningful for our clients is
have a profound effect on the global
paramount. As the more information
economy, so putting our colleagues
gets collected, the more we’ll need to
at the heart of the decisions we take
ensure that it’s accurate, hasn’t been
and making sure that they are feeling
duplicated and is providing a correct
secure is critical,” he explains. “There
analysis in order to deliver reliable
might be fewer face-to-face meetings w w w.i nsur te c hdi gi t a l. com
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MARSH
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“ The Marsh global strategy comprises four critical pillars: aligned clients, colleagues, communities and growth” — Douglas Ure, President Director and CEO, Marsh Indonesia 189 and certain opportunities that we thought were going to happen in 2020 might be delayed to 2021, or might never happen at all.” However, despite this, Marsh’s overall plan and vision for the rest of the year remains relatively unchanged: continuing to grow as an organisation and making sure that clients receive a service that’s superior. Ure introduced a flexible working policy for Indonesia in 2019, providing employees much more flexibility in how and where they work. This included moving to a smart office and having all colleagues equipped with a laptop, still not commonplace w w w.i nsur te c hdi gi t a l. com
MARSH
191 in Indonesia. Marsh has been a pio-
business with Marsh,” he states. “The
neer of remote working for its staff
Marsh global strategy comprises four
in Indonesia and has been utilising
critical pillars: aligned clients, col-
conference call facilities across its
leagues, communities and growth. If
operations for a number of years. As
we do those things right, provide lead-
such, the current disruption caused
ing advice using the best sources of
by COVID-19 has not yet presented
information and use the best people
much disruption in business continuity.
to put clients at the heart of every-
When asked how Marsh will con-
thing we do, then we’ve probably got
tinue to ensure a quality service and
a better chance to build long-term,
guarantee client retention, Ure is can-
stable relationships.”
did about the threat of complacency for such a large and well-established enterprise. “I don’t think we have any given right to automatically assume that clients are going to renew their w w w.i nsur te c hdi gi t a l. com
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ACHMEA AUSTRALIA EMBRACES DIGITAL TO KEEP FARMERS FARMING WRITTEN BY
SEAN GALEA-PACE PRODUCED BY
ANDREW STUBBINGS 193
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ACHMEA AUSTRALIA
Emma Thomas, CEO of Achmea Australia, discusses the importance of meeting the changing needs of Australian agribusiness through a digital transformation
A
chmea Australia is committed to helping agribusinesses protect their livelihoods and business continuity. It understands
the power of embracing digital innovation to reach new heights, without compromising on the value of face-to-face service to deliver on its purpose of keeping farmers farming. 194
The insurer is part of the wider Achmea Group, which began 200 years ago in the Netherlands with 39 farmers cooperating together to collect money in a glass jar, to compensate each other in the event of a haystack fire. From there, the Achmea Group became a global insurance brand. With 14,500 employees in the Netherlands and 2,500 internationally, the Achmea Group supports the lives of 13 million people in six countries. Through its brands, the Achmea Group has supported the Netherlands in becoming the world’s second largest agricultural exporter Emma Thomas is the Chief Executive Officer (CEO) of Achmea Australia. Passionate about accelerating its sustainable business growth, Emma says through cherishing Achmea’s cooperative heritage, Achmea Australia has ensured J U LY 2 0 2 0
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ACHMEA AUSTRALIA
“ WE DISTINGUISH OURSELVES IN THE MARKET THROUGH OUR HISTORY; OUR SOCIAL RESPONSIBILITY IS PARAMOUNT” — Emma Thomas, CEO, Achmea Australia 196
that helping agribusinesses and supporting their communities continues to be at the heart of its strategy. “We distinguish ourselves in the market through our history; our social responsibility is paramount,” she explains. “We are a direct insurer, which means agribusinesses can partner directly with us, the insurer for their farm insurance, as opposed to purchasing insurance products through a broker or another third party. Through this direct relationship, we offer Australian agribusinesses an insurance product that is built on 200 years’ expertise, whilst providing local on-farm service. Our purpose is to keep farmers farming; we exist to protect the continuity of farming businesses and the livelihood of farmers – as we have been since 1811.” Achmea Australia has made a long-term investment in its digital transformation, with its digital initiatives translating into increased agility and speed for the entire organisation. As the world confronts the challenges of the coronavirus (COVID-19) pandemic, Achmea Australia’s digital strategy enabled the company to move quickly
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197 to transition employees from its office
Having grown up on her family’s farm
buildings and to work from their homes.
in the Otago region of New Zealand,
“Through the integration of technology
Emma has built a comprehensive
into all areas of the business, we have
understanding and passion for agricul-
built capacity for crisis resiliency. This
ture that she combines with more than
meant that we were in good shape to
20 years’ experience in the financial
accommodate this shift to remote work-
services industry. “As a child, when I
ing, whilst continuing to manage service
wasn’t at school, I was on my grandpar-
delivery without service disruptions to
ents’ merino sheep farm. Later I moved
our clients. COVID-19 has changed the
with my husband to a small farm on the
way we work, and it has underscored
Kapiti Coast, where we brought up our
the business continuity mandate. With
children,” she says. “We lived on our
secure and flexible cloud solutions, we
farm while I held several senior roles
can continue to service our clients from
spanning from finance to sales at a
anywhere – and at any time.”
large rural insurer in New Zealand.” w w w.i nsur te c hdi gi t a l. com
ACHMEA AUSTRALIA
198 In 2017, Emma moved to Sydney
of seeing the results of hard work and
to begin her role as CEO of Achmea
appropriately balancing opportunity
Australia, and instantly felt her personal
and sustainable risk management,”
purpose aligned with the company’s
she affirms.
values. “I am passionate about continu-
Achmea Australia has experienced
ing Achmea’s co-operative principles,”
rapid growth over the past few
she says. “I come to work each day
years. Having begun in Australia in
and proudly support a sector and
2013 with just two executives and a
country that helps feed not only the
couple of laptops, it is now achieving
nation but the world.” Emma believes
double-digit year-on-year growth.
that her personal family history is a
“Over the last three years, we have
major driving factor in how she lives
embarked on a journey of digital
her life today. “I have a love for the land.
transformation, our startup culture
This is where my personal values were
has evolved into a disrupter in the
shaped to appreciate the satisfaction
agricultural insurance industry,”
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says Emma. “Since joining Achmea
With digital transformation playing
Australia, I have led the team to dou-
an increasingly prominent role across
ble the size of the business based
all industries, Emma says technology
on employee numbers and turnover.
is a core part of Achmea Australia’s
Achmea Australia has been a final-
growth strategy. “We have planned
ist in the Australian Direct Insurer
ahead to ensure a strong technol-
of the Year for 2018 and 2019 (by
ogy foundation for our future. It was
the Australian and New Zealand
important for us to differentiate
Institute of Insurance and Finance),
ourselves in the competitive insur-
and last year we were rated five
ance industry and speed-to-market
stars for our claims service by LMI
and enhancing service delivery were
ClaimsComparison.”
critical business drivers for us. 199
E X E C U T I V E P R OF IL E :
Emma Thomas Title: Chief Executive Officer Company: Achmea Australia Industry: Insurance
Location: Australia
As Chief Executive Officer, Emma leads Achmea Australia’s rapid growth as a direct and specialist farm insurer. Having recently delivered a significant modernisation of its insurance technology platform, Emma is proud to continue Achmea’s co-operative principles which are underpinned by continued innovation, excellence in customer service and working together with industry partners to build a ‘better tomorrow’. Her credentials include: Chartered Accountant, CA ANZ, ANZIIF Senior Associate, Bachelor of Commerce, Accounting and Diploma for Graduates in Management (University of Otago, NZ). Passionate about continued personal development, Emma recently became a member of Australian Institute of Company Directors. w w w.i nsur te c hdi gi t a l. com
ACHMEA AUSTRALIA
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“ PARTNERSHIPS ARE MORE IMPORTANT THAN EVER AND INTEGRATED OFFERINGS ARE GAINING IN POPULARITY THROUGH THE EFFECTIVE USE OF DATA” — Emma Thomas, CEO, Achmea Australia
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We help Achmea know and serve farmers better. guidewire.com
“ I COME TO WORK EACH DAY AND PROUDLY SUPPORT A SECTOR AND COUNTRY THAT HELPS FEED NOT ONLY THE NATION BUT THE WORLD” — Emma Thomas, CEO, Achmea Australia “What we look for in a strategic
Guidewire Software, Inc. has not only given us a competitive edge, it has also enabled us to differentiate ourselves and grow by adapting to the changing needs of our clients. This, in turn, has enabled us to employ more people in regional Australia, focus on mutually beneficial partnerships with agricultural associations and help to realise our vision of protecting and enhancing agricultural communities.” Despite the considerable growth
partnership is an alignment of cultural
and focus on digital transformation,
values, in which each partner has a
Emma affirms that its people remain
clear role to play. As an insurer with
the lifeblood of the organisation.
co-operative values, we take a long-
“Along with a cloud-based telephony
term approach, choosing to partner
system, the successful deployment of
with Guidewire Software, Inc based
our cloud-based policy administration
on a shared understanding of strate-
and underwriting solution has allowed
gic needs and priorities for innovation.
us to focus on developing our people,
They have provided us with a state-of-
so that they in turn can concentrate on
the art, intuitive, cloud-based policy
delivering the best service possible
administration and underwriting sys-
to our clients.”
tem. Achmea Australia and Guidewire
“In a time of accelerating change,
Software, Inc both share a passion for
I am inspired by the positive mindset
enabling the growth of their clients,
of our people and how we are working
meaning we seek to understand their
together with our partners to actively
needs and determine how to best serve
think outside the box, present innova-
them. Partnering with first-class tech-
tive ideas and business adaptation,”
nology service providers, including
she continues. “We are working together w w w.i nsur te c hdi gi t a l. com
203
ACHMEA AUSTRALIA
“ I AM INSPIRED BY THE POSITIVE MINDSET OF OUR PEOPLE AND HOW WE ARE WORKING TOGETHER WITH OUR PARTNERS TO ACTIVELY THINK OUTSIDE THE BOX TO DELIVER ON OUR PURPOSE” — Emma Thomas, CEO, Achmea Australia
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in challenging times, and by adapting and embracing digital opportunities, I am confident we will emerge from the COVID-19 pandemic stronger than ever.” Emma believes that Achmea Australia is not just an insurer, but also a disrupter that delivers a farm insurance product to meet the evolving needs of Australian agribusinesses. “Instead of only providing an insurance solution, our focus on both digital optimisation and on-farm service has enabled us to service our clients, both now and into the future. Through our direct approach, we discuss with our clients how they can proactively prevent the types of losses we have seen in our 200 years of international experience and local rural knowledge, and what impacts to consider should they need to rebuild after a loss,” she says. “We talk to our clients about what risks they can prevent without insurance, and then for the remaining risks, our clients have the ability to tailor our cover so they can insure what they want and how they want it. Through our direct distribution model, we can meet faceto-face with our clients to discuss the w w w.i nsur te c hdi gi t a l. com
205
ACHMEA AUSTRALIA
206
needs and requirements unique to
help our clients to limit climate-related
their farm.”
damage on the one hand (adaptation)
Emma believes Achmea Australia’s
and on the other support them in
proactive and innovative approach
reducing their carbon footprint (miti-
gives the insurer an edge over com-
gation). We must work together on
petitors in the industry. “We are
a healthier, safer and more future-
continually looking for ways we can
proof society. At Achmea Australia,
stay ahead of the market. We research
we do this in a committed, customer-
methodologies and invest in tools and
driven and results-oriented way and
expertise so we can help our clients
it doesn’t get much more important
by providing insight and solutions,”
than our core company values. One
explains Emma. “As an insurer, we
of these is “we aim for solutions” which
are looking at offering services that
is all about innovation and looking
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“ OUR DIGITAL TRANSFORMATION HAS MEANT GREATER EFFICIENCY FOR OUR PEOPLE AND BETTER SERVICE OUTCOMES FOR OUR CLIENTS” — Emma Thomas, CEO, Achmea Australia
outside the box for a solution that is a win-win for both our clients and the Achmea Group.” Sharing information and ideas, particularly during these difficult economic times, can help to transform businesses, elevate performance and deliver value according to Emma. Achmea Australia values its partnerships and affirms that in collaboration with its partners, the insurer is continuously seeking innovative solutions that strengthen its business proposition as much as w w w.i nsur te c hdi gi t a l. com
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possible. “To meet today’s global chal-
From August 2019 to January 2020,
lenges, partnerships are more important
Australia experienced an unprec-
than ever. Integrated offerings are
edented bushfire emergency which
gaining in popularity through the effec-
burned more than 18 million hectares
tive use of data,” she explains. “How
of land and destroyed thousands of
we remain relevant as a partner to our
homes and businesses. Tragically,
clients, true to our purpose whilst agile
34 people lost their lives and up to
in solving the new problems that our cli-
one billion native animals were lost.
ents face, will ensure Achmea Australia
Achmea Australia’s people witnessed
continues to strive as a business.
first-hand the devastation caused
We cherish our cooperative principles
in communities across the coun-
that we can achieve more by working
try. “The destruction caused by the
together for a sustainable future.”
catastrophic bushfires has served to
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“ WE UNDERSTAND THE POWER OF TECHNOLOGY TO REACH NEW HEIGHTS, WITHOUT COMPROMISING ON THE VALUE OF FACE-TO-FACE SERVICE TO KEEP FARMERS FARMING” — Emma Thomas, CEO, Achmea Australia
With the future in mind, Emma has a clear idea of how her organisation can continue to grow over the next few years and help agribusinesses do what
remind us of the essential nature of
they do best. “The digitalisation of
food security, reinforcing the value of
agriculture is seen as the next (fourth)
the agriculture sector and the impor-
agricultural revolution, it is trust, trans-
tance of insurance for continuity of
parency and relevance that will keep
supply,” explains Emma. “Our insur-
farmers farming,” she says. “Through
ance platform enables our people to
this revolution, we will continue to
focus on what we do best: stand shoul-
walk side-by-side with our clients and
der-to-shoulder with our clients to
communities, using our international
rebuild livelihoods and get farms back
expertise and local knowledge to aim
up and running again when something
for solutions to emerging problems.
unexpected happens.
I am passionate about accelerating
“It is being recognised that Achmea Australia’s focus on both digital opti-
our sustainable business growth as a direct insurer.”
misation and on-farm service is truly something special. We understand the power of technology to reach new heights, which has allowed us to respond to the challenges arising from COVID-19, without compromising on the value of face-to-face service to keep farmers farming.” w w w.i nsur te c hdi gi t a l. com
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