Fast tracking digital transformation publish

www.InsuranceFrameworks.com
© Insurance Frameworks
 Challenges in Digital Transformation
 Digital Transformation Program Life Cycle
 Business Capabilities
 Digital Transformation Leveraging Business Capabilities

 Management consulting organization totally focused on Insurance
and Wealth Management
 Provider of Panorama 360, an integrated set of Insurance and
Wealth Management:
◦ Capability Map
◦ Enterprise Business Architecture Framework
◦ Information Models
◦ Process Models
◦ Training Courses
◦ Facility to populate modeling tools with Panorama 360
 Operate Globally

 200 Clients
 6,000 Enterprise and
Business Architects
/ Analysts
 20 Countries

 Worked in insurance for 40 years in the business and in IT
 Degrees in:
◦ Information Technology
◦ Business Management
◦ Insurance
 Assisted approximately 100 insurance companies in 10 countries
 Co-founded two management consulting organizations totally focused
on insurance and wealth management
 Co-author of Panorama 360, Insurance and Wealth Management
Enterprise Business Architecture Framework and Process Models

 Usage of digital technologies to create new or to modify
existing
◦ culture
◦ business processes
◦ customer experience
to meet changing business and market requirements.
 Digital transformation begins and ends with how you think
about, and engage with, clients.
 It is about doing business using technology.

 Process Transformation
◦ A significant focus of corporate activity
 Business Model Transformation
◦ Fundamental building blocks of how value is delivered
 Domain Transformation
◦ New sets of non-traditional competitors

1. Business role in Digital Transformation
◦ Business needs to take a leading role in the setting of strategies
2. The Changing Customer Experience
◦ How customers value the brand experience above all else
3. Pushback or lack of readiness from different angles
◦ You can’t accomplish your goals without the support of the entire
organization or your extended value chain
4. Lagging, Legacy Business Models
◦ Legacy can be a real burden

1. Scope the Digital Transformation – Understand the business context, map
investments to digital value, identify challenges, identify and interview key
stakeholders.
2. Design the Digital Future State Vision – Define the key digital outcomes
your customers want and create a set of guiding principles to deliver on
them.
3. Define the Digital Roadmap – Identify the initiatives to achieve digital
outcomes and create a customer-centric digital strategy and roadmap.
4. Sustain Digital Transformation – Establish the role of culture in digital
transformation and plan the cultural changes needed for success.

Business
Planning
Processes
Target
Architectures
Development/APIs
Existing
Architectures
Customers
Journey
Change
Management

Processes
Target
Architectures
Development/APIs
Existing
Architectures
Customers
Journey
Change
Management
Business
Planning

Center to Digital Transformation

 Business capability modeling is a technique for the
representation of an organization's business model,
independent of the organization's structure, processes,
people or domains. (Gartner)
◦ You can develop your model or adopt an industry proven model
or a combination of both
◦ Developing requires significant time and resources
◦ Business Capabilities link planning, designing, developing and
implementing major business changes

• Industry blocks
• All integrated
• Accelerators to projects
• Used globally
Panorama 360
Insurance and Wealth
Business Capabilities = What needs to be done

Value Chain
Capability Map
(2nd level)
Capability Map
(3rd level)
Metrics
Stakeholders
Info. Subjects
(2nd level)
Info. Subjects
(3rd level)
Processes
Activities
Uses
Creates
Owns
Panorama 360
Enterprise
Model
Panorama 360
Business
Process
Models
Business Integration

Panorama 360
Enterprise Model
Panorama 360
Business
Process
Models

Business Model Map
Business
Capabilities

Copyright Insurance Framework Inc.
Business
Domain
Business
Capability
Description Impact Level
on Business
Strategies
Strenghts
and
Weaknesses
Metrics Level of
Planned
Investment
to Support
Strategies
Investment
Priorities
1.0 Marketing 1.1 Research Markets From many sources, on different subject matters, and from various
angles, gather information about markets which are the target of the
organization. With this information on hand, assess the viability and
macro-opportunities offered by the observed environments.
Among the functions that would be included under this, are
consolidations of consumer profiles, gathering of external consumer
data, and assessment of the political environment...
1.0 Marketing 1.2 Develop Markets Within each of the identified potential markets, prepare a business
case for the market segments that are perceived as strategic for the
organization. Based on various observed criteria, the business case
describes the business opportunities within the segments and the
challenges that lie ahead.
Among the functions that would be included under this topic are
segment need analysis, distribution needs, and accomplishment of a
competitive analysis, as well as defining the value proposition and
proposed segment initiatives.
1.0 Marketing 1.3 Develop Buying
Behaviour
By analyzing the defined segments and their potential customers,
purchasing behavioral profiles and patterns will emerge. These
profiles are the beginning to defining how each customer segment
wants to do business with the organization and according to which
rules.
assessments of buying behaviour trends, definition of the buyer life
cycle and product affinities, access mode requirements....
1.0 Marketing 1.4 Define Customer
Service Strategy
Based on identified customer segment requirements, servicing
strategies are defined to support and to meet the expectations of
the target markets. These strategies are defined as a broad
reference model for future product introductions.
defining the service strategy, support strategy, cost
considerations...These service strategies could be defined for
specific market segments.
Panorama 360 Business Planning Framework

Business Model Map

Major Business
Capabilities
Maturity
Level
Importance
to Strategy

Maturity
Level
Importance
to Strategy

Strategic Level
Business Domain Business Capability Description Functional Capability Description Initial:
Success is
based upon
individual
effeort
Repeatable:
Basic and
consistant
processes
Defined:
Consistent
practices are in
place
Quantitatively
Managed:
Data is
collected on
quality of
processes
Optimizing:
Pro-active
process
improvement
is
implemented
Level of
Differentiation
Capability
1.0 Marketing 1.1 Research Markets From many sources, on different subject matters, and from variousangles, gather
information about marketswhich are the target of the organization. With this
information on hand, assessthe viability and macro-opportunities offered by the
observed environments.
Among the functionsthat would be included under this, are consolidationsof
consumer profiles, gathering of external consumer data, and assessment of the
political environment...
1.1.1 Identify Potential Markets Gather relevant information about the variousmarketswhich
may be of interest in order to expand the organization. The
information related to these marketscould be high level
impressionsbased on trends, population growth, evolution of
economy and perceived readinessto do business.
1.1.2 Consolidate Internal
Consumer Profile
Gather relevant information, available internally, on customer
profiles, purchasing behaviour, complaint profiles, consumers
requests, previousfocusgroups, customer satisfaction surveys,
profitability assessmentswhich could be useful to perform the
research of potential new marketsin line with the corporate
objectives and directions.
1.1.3 Integrate External Consumer
Data
Gather relevant information, available through external sources,
on consumer needs, consumer purchasing behaviourbased on
consumer profiles by revenue, by regions, by distribution
channels, etc..., current sales volumes and profitability, which
will provide indicatorsasto where the market is, where it seems
to be going, how and where it isgrowing, and what consumers
expect.
1.1.4 AssessPolitical Environment Gather information on the political environment, how
supportive the government istowardscertain productsorways
of doing business, how the government ispreparing to legislate
certain fiscal aspectsaswell associal benefits, and what isthe
likelihood that thismay change in the future. Assessthe existing
regulatory environment and how it supportsthe productsand
services that are part of the offering.
Maturity Level
Panorama 360 Business Capability Maturity Assessment Framework
Business Model Map

Business Capabilities
Involved

6.4.4 Complete Forms
Forms need to be completed depending on the type of
benefit requests. These forms could be related to
professional verifications, servicing invoices, or others
documents to justify the requested amounts or to
release the company’s liability.
The activities are:
• Complete all the forms requested to assess the
situation and to bring the benefit request to the
desired result.
Business Capabilities to
Functional Touch Points

The activities are:
desired result.

CopyrightInsuranceFrameworkInc.
BusinessDomain BusinessCapability Description FunctionalCapability Description Personas Awareness Consideration Decision Delivery Servicing Payments Awareness Consideration Decision Delivery Servicing Payments
3.0DistributionandSales 3.5PerformSalesCampaign Salescampaignsareimportanttogeneratingrevenue.Thesesalescampaignsneed
tobeplannedandcarriedthroughmeticulouslyinordertocreatethedesiredlevel
ofinterestinthetargetedmarket.
Amongthefunctionsthatwouldbeincludedunderthistopicaredefiningthe
productcampaigns,estimatingtheappropriatetiming,definingtheawareness
channelstobeused,managingthecampaignsandassessingtheresults...
3.5.4PerformSalesCampaign Roll-outthecampaignasplanned,makingsurethatthe
mechanismfortrackingisavailable.Keeptrackofallsignificant
campaignevents.
3.0DistributionandSales 3.5PerformSalesCampaign Salescampaignsareimportanttogeneratingrevenue.Thesesalescampaignsneed
tobeplannedandcarriedthroughmeticulouslyinordertocreatethedesiredlevel
ofinterestinthetargetedmarket.
Amongthefunctionsthatwouldbeincludedunderthistopicaredefiningthe
productcampaigns,estimatingtheappropriatetiming,definingtheawareness
channelstobeused,managingthecampaignsandassessingtheresults...
3.5.5AssessSalesCampaign
Success
Evaluatethesalesthathavebeenregisteredastheresultofthe
campaign,byregion,targetmarket,distributionchannel,
distributor...
3.0DistributionandSales 3.6PerformSales Theessenceandthekeytorevenuegenerating,thisfunctionincludesallthe
processesfromadvisingclientsonpotentialproductsorservices,includingthe
completionofanydocuments,uptotheactualclosingofthesales.
Amongthefunctionsthatwouldbeincludedunderthistopicareselectproduct
option,selecttransactionoption,completeapplication,obtainauthorization,
establishcontract,therolloverofmaturinginvestments,thebenefitmanagement
rules,closetransaction...
3.6.1AdviseonRelated
Products/Services
Basedoncustomerneeds,customerprofile,customerlifecycle,
customerpreferences,provideinformationaboutmostsuitable
products,alternatives,andsupplementary/complementary
productsthatwouldsupportthecustomerobjectives.
3.6.2ProvideSaleIllustration Providemodels,graphs,productsprofiles,productcomparisons
andperformanceexpectationssocustomerscanseehowthe
acquisitionsofselectedproductswillbenefitthemintheyearsto
come.Capabilitytosimulatevariousscenariosisalsoexpected.
3.6.3AssessMoralRisk Assessthemoralriskassociatedtoapersonortoacorporation
andwhatcouldbetheirimpactontheprofitabilityofthe
company.Theriskcouldbeintermsofpotentialexposureasa
resultofpreviouslegalproblems,unstablecompany,money
launderingexposure,benefitsabuse,propertiesnotworththe
mortgageagainstit,etc…Monitorriskimprovementsovertime.
Prospect/CustomerLifeCycle WhattoUseforTouchpoints
Panorama360CustomerJourneyMappingFramework-Level3

Existing technology on
each business capability

Panorama
360
Capabilities
Functions
Processes
Information
Mapping existing technology maturity
levels vs Customer Journey expectations
Technology Health

End-to-end processes
• Marketing
• Product development
• Cross-selling/up-selling
• Sales
• Policy administration
• Customer service
• Claims/benefit
• Distribution channels
• Service providers

In scope
Integra
tion

6.4.3 Assign Benefit Request
Benefit requests can be assigned to internal or external experts according to workload, request type,
expertise level and severity of potential request. The required skills by the experts to handle certain
types of losses would also be taken into consideration. The request can be handled by one or more
experts and may need to be accessed and updated by all or have restricted access based on the
confidentiality of the information.
6.4.6 Confirm Eligibility
Benefits requests are payable only if the contract stipulates that they are. Verifying that the contract
contains the clauses related to the claimed benefits is key being moving forward with the requests.

6.4.3 Assign Benefit Request
Benefit requests can be assigned to internal or
external experts according to workload, request type,
expertise level and severity of potential request. The
required skills by the experts to handle certain types
of losses would also be taken into consideration. The
request can be handled by one or more experts and
may need to be accessed and updated by all or have
restricted access based on the confidentiality of the
information.
The activities are:
• Confirm location
• Confirm availability
• Confirm expertise level
• Confirm language required
• Confirm current workload
• Match current workload with expected workload
• Assign benefit request
• If assigned to robots, ensure knowledge required is
available
The activities are:
desired result.

New
Compliance
Model
Former
Compliance
Model

E- Identifierles solutions financières
5.3.3Concevoirdes plans de solution
8.1.3Déterminerlaqualité et la
combinaison des catégories d'actifs
5.3.4Déterminerdes produits liés
8.1.7Élaborerun plan d'investissement
3.6.8Préparerles soumissions
3.6.1Donnerdes conseils surles
produits et services
Art.12Code de déontologie de lachambre de lasécurité financière: Le représentant doit agirenvers son client
ou tout client éventuel avecprobité et en conseillerconsciencieux, notamment en lui donnant tous les
renseignements qui pourraient être nécessaires ou utiles. Il doit accomplirles démarches raisonnables afin de
bien conseillerson client.
Voirles obligations de ne pas faire de fausses représentations surles produits.

Business Domain Business Capability Description Functional Capability Description List of Local
Compliance
Rules
Local
Compliance
Assessment
List of State or
Provincial
Compliance
Assessment
State or
Provincial
Compliance
Assessment
List of Federal
Compliance
Rules
Federal
Compliance
Assessment
Global
Compliance
Rules
Global
Compliance
Assessment
1.0 Marketing 1.1 Research Markets From many sources, on different subject matters, and from various angles, gather
information about markets which are the target of the organization. With this
information on hand, assess the viability and macro-opportunities offered by the
Among the functions that would be included under this, are consolidations of
1.1.1 Identify Potential Markets Gather relevant information about the various markets which
may be of interest in order to expand the organization. The
information related to these markets could be high level
impressions based on trends, population growth, evolution of
economy and perceived readiness to do business.
1.1.2 Consolidate Internal
Consumer Profile
Gather relevant information, available internally, on customer
profiles, purchasing behaviour, complaint profiles, consumers
requests, previous focus groups, customer satisfaction surveys,
profitability assessments which could be useful to perform the
research of potential new markets in line with the corporate
objectives and directions.
1.1.3 Integrate External Consumer
Data
Gather relevant information, available through external sources,
on consumer needs, consumer purchasing behaviour based on
consumer profiles by revenue, by regions, by distribution
channels, etc..., current sales volumes and profitability, which
will provide indicators as to where the market is, where it seems
to be going, how and where it is growing, and what consumers
expect.
1.1.4 Assess Political Environment Gather information on the political environment, how
supportive the government is towards certain products or ways
of doing business, how the government is preparing to legislate
certain fiscal aspects as well as social benefits, and what is the
likelihood that this may change in the future. Assess the existing
regulatory environment and how it supports the products and
services that are part of the offering.
1.1.5 Assess Social Environment Gather information on the social fibre of the market, how
prepared is the population to accept new products and services
or variations of products, new or improved ways of doing
business, what is the openness to savings and investment as
opposed to insurance/protection, what others initiatives have
been attempted in the past and how well received were they.
1.1.6 Assess Business Climate Gather information on how current businesses operate in the
market, what is the penetration level, what taxation aspects do
they have to face, who are the potential competitors, how is the
climate expected to change or to stay similar. Identify potential
and non-traditional competitors as well as substitute or alternate
products.
1.1.7 Determine Customer Value
Chain
Based on what is known of the targeted markets, identify the full
spectrum of financial services that will meet consumer
expectations and the network of distribution and service delivery
that will be required. Which stages of the customer value chain
will tend to pull the attention and stimulate the needs?
1.1.8 Determine Sales Cycle Based on the markets that are targeted, determine the sales
cycle that will be required to develop prospects and book new
business. Depending on the culture or other social aspects and
the products and services, the sales cycle will be longer or
shorter, through local associates or direct, easy or difficult,
emotional or analytical, pull or push, etc
Compliance Rules and Compliance Level
Panorama 360 Compliance Management Framework - Level 3

I
N
F
O
T
O
P
I
C
S
Market
Demographics
Sociographics
Psychographics
Competition
Share
of
Market
Consumer
Survey
Potential
Markets
MarketBusiness
Case
Segment
Segment
Requirements
Market
Assessments
Segment
Strategy
Segment
Business
Case
Purchasers
Profile
Sales
Programming
Model
Sales
Templates
Buying
Assessment
Servicing
Strategy
Promotion
Plan
Promotion
Material
Promotion
Assessment
Market
BUSINESS FUNCTIONS Servicing Strategy
1.0 1.0 Marketing
1.1 Research Markets
1.1.1 Identify Potential Markets X
1.1.2 Consolidate Internal Consumer Profile X X X
1.1.3 Integrate External Consumer Data X X X
1.1.4 Assess Political Environment X
1.1.5 Assess Social Environment X
1.1.6 Assess Business Climate X X
1.1.7 Determine Consumer Value Chain X
1.1.8 Determine Sales Cycle X
1.1.9 Analyze Market Information X X
1.2 Develop Markets
1.2.1 Perform Market Segmentation X
1.2.2 Identify Segment Needs X
1.2.3 Identify Segment Product Needs X X
1.2.4 Identify Segment Service Needs X X
1.2.5 Identify Distribution Needs X
1.2.6 Determine Target Segment Value Proposition X
1.2.7 Identify Entry/Exit Barriers X
1.2.8 Define Market Segment Initiatives X
1.2.9 Define Monitoring Requirement X
Market Segment Buying Promotion
Panorama 360 Information Security Framework
• Level of security
• Who can access
• Who can create
• Etc…

Information Subjects

Information Topics

Managing Business and Enterprise Architecture
Insurance and Wealth Management

Value Chain
Capability Map
(2nd level)
Capability Map
(3rd level)
Metrics
Stakeholders
Info. Subjects
(2nd level)
Info. Subjects
(3rd level)
Processes
Activities
Uses
Creates
Owns
Panorama 360
Enterprise
Model
Panorama 360
Business
Process
Models
Business Integration
Panorama 360
evolved over 24 years
Training

Project Scope and Responsibility Align Capabilities to Initiatives
In-scope
Building Processes Capabilities to Applications
Risks to Capabilities

• 9 Vectors to Evaluate
• 120 Questions in Total
• Assess Strength and Improvements

Insurance Frameworks Inc.
For More Information on
PANORAMA 360 AND CONSULTING SERVICES
Pierre.Gagne@InsuranceFrameworks.com

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