Businesses are experiencing unprecedented levels of disruption affecting the way in which they compete and operate. Traditional companies are stretched to their limit and struggling with the simultaneous drive for productivity, innovation and unprecedented customer engagement.
In order to meet and overcome these challenges, companies are being forced to embrace change as a constant, starting with their strategies and business models which are at the very core of their organizations.
THE WHY, WHAT AND HOW
Successful companies must align their strategy and vision (the why), business models (the what) and their operating models (the how). A future oriented operating model is now a pre-requisite for success in the digital era.
CHARACTERISTICS OF FUTURE OPERATING MODELS
There are key characteristics that will shape the mindset, the structure and the economic viability of the organization. They include:
Ecosystems – Accelerating market-making solutions
Workforce – Unleashing passion, purpose and performance
Acquisitions – Flexibility and efficiency through modular building blocks such as ventures and acquisitions, and enablers like cloud and APIs.
Life insurers know that value is trapped in the middle market. To overcome barriers and grow new revenue, insurers must create activation points—or buying triggers—through behavioral economics.