Insurance change management: Why disruption also brings opportunity

Independent reviews suggest that 60-70% of major change programmes fail by their own standards, which is a major concern for insurance leaders operating in a volatile risk landscape that is increasingly disrupted by new drivers of change.

However, according to Deborah Bale, who leads Fifth Step’s change management team to deliver complex change projects and programmes for high profile insurance firms, the insurance industry can create methods to bring about a 100% success rate.

Bale says: “More than ever before, insurance companies are facing external and internal demands to manage complexity, disruption and transformation while still being expected to deliver a slick and efficient IT service to support the business and its customers.

“Solvency II, TOM, Cybersecurity, Mergers & Acquisitions, IT systems consolidation, automation, system implementations or re-organisations are a few examples of drivers for change, while increased competition, technology driven innovation and tight budgets only add to the pressure. Any one of these ingredients alone would make a Change Management programme challenging, and yet they are often just the tip of the iceberg. As well as providing an effective toolkit to successfully manage change and disruption, change management and Project Management Offices are increasingly focused on bridging the gap between IT and the business and on the people element, they are the key to success.”

That is why Bale is leading a free breakfast seminar & networking event for senior business and IT decision makers, IT managers, change managers on theme: “How to deliver success and make change happen while managing a large agenda with a continuous stream of disruptions.”

The seminar’s panel of Insurance Change Management Specialists and senior decision makers will lead an interactive, hands-on discussion with real-project experience and pro-active advice. Fifth Step has brought in an external moderator and key note speaker, Steve Harpum, who will add a different perspective to the discussion by drawing on his experiences as a senior NATO Commander in Afghanistan. Harpum will share his experience and lessons learned from delivering significant organisational and process change quickly, in a diverse, extremely hostile and rapidly changing environment, where even the smallest mistake could mean the difference between life and death.

Other participants will include:

Mark Bridges who offers interim operational and general management support to improve operational performance and create effective operating infrastructures.

Louise Day who in her current role as a Director of Market Modernisation at the International Underwriting Association, is the primary contact for all market modernisation initiatives.

Lastly, Fifth Step’s Deborah Bale who delivers complex Change Projects and Programmes for high profile insurance firms will be focusing on bridging the gap between IT and the business.

Fifth Step has extended an open invitation to insurance market practitioners to take part in what promises to be an informative, thought provoking and entertaining discussion!

Date and Venue: JUNE 22 @ 8am – 10am. 8 Fenchurch Place, London, EC3M 4PB. To attend Fifth Step's Free Breakfast Seminar: REGISTER HERE