InsurTech Magazine - July 2020

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.

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CLICK THE MENU TO RETURN TO CONTENTS PAGE

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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.”

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w w w.insur techdigital.com

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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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Optimize mobility to scale for the future The importance of being prepared has never been clearer.

Savvy businesses are taking measures now to help meet their unique business challenges. Choosing the right business wireless solutions helps your organization scale services up (or down) quickly, while enterprise mobility management helps safeguard sensitive information across all devices and operating systems.

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Take a proactive approach to business continuity The growing need to provide 24/7 services to meet customer demands is changing organizations’ approach to business continuity. Moving critical applications to the cloud and implementing backup and recovery services help prepare your business for the unpredictable. That means getting reliability and security so your business stays online and can access expert customer service whenever you need it.

The future may look uncertain, but your business can evolve right along with it. With turnkey business solutions like Rogers UnisonTM and Rogers Virtual Private Cloud, as well as tools from Rogers partners like Microsoft®, your business can start moving forward today.

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

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0:50

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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

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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

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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

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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.”

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Visma | Raet: talent management CLICK TO WATCH

|

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

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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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47

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

49

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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

53

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

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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?

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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

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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

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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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A I & D ATA

IBM - ARTIFICIAL INTELIGENCE CLICK TO WATCH

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82

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

|

1:51

86

“ 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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87

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

90

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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.

w w w.i nsur te c hdi gi t a l. com

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.

LEARN MORE

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%.

w w w.i nsur te c hdi gi t a l. com

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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

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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

J U LY 2 0 2 0

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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.

J U LY 2 0 2 0

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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.

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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

114

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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Making a positive impact SOLUTIONS-DRIVEN CONSULTING

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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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Rogers & Design and related brand names and logos are trademarks of All other brands and product names are the trademarks of their respective owners.

“ 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

119

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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123

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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125

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

129

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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

J U LY 2 0 2 0

Join the CodeBlue Revolution CLICK TO WATCH

|

3:20

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.

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CODEBLUE

CodeBlue Join the Revolution #2 CLICK TO WATCH

|

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

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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.

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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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2:28

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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

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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

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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

J U LY 2 0 2 0

|

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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1:54

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PPI BENEFITS INC.

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“ 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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4:26

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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

175

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

J U LY 2 0 2 0

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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Marsh Captive Solutions CLICK TO WATCH

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2:32

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

187

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

192

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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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Lending farmers a hand for over 200 years CLICK TO WATCH

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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

200

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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

w w w.i nsur te c hdi gi t a l. com

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

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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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