How do you future proof the change function in insurance?

Insurance change functions are under pressure to deliver more transformation, faster, with less lenience for failure. As part of ECMS’s roundtable series, we brought together change and transformation leaders from across insurance to explore the industry’s approach to future proofing these crucial functions.

We examined how insurance companies are equipped to execute largescale change, what they’re doing right, and what lessons they can apply from other financial services.

The enduring truths of change and transformation

However much the world changes, core elements of change and transformation will always hold true. Business functions will always be resistant to change, so winning hearts and minds is critical for successful outcomes.

Every transformation project has its own unique needs and, therefore, resourcing requirements. What else is essential for any change function, and how do you ensure you take the business along on your journey?

Comparing insurance and financial services

With regulation possibly not as prescriptive and governance functions often not as prevalent in insurance as in banking, the ‘stick’ of compliance requirements is not really present in the same way.

Given this difference between sectors, how can you use the ‘carrot’ approach to build internal buy-in for change initiatives? What lessons can insurance learn from other financial services when it comes to change and transformation?

Request a download of Future proofing the Change Function in Insurance

To understand how senior change leaders are building competitive advantage, fill in the form below to request a download of our report, Future Proofing the Change Function in Insurance.

If your change function needs support with upcoming projects, ECMS can put in place the right resource and structures to equip you for success. Please get in touch with our team for an informal, confidential conversation.