Are you in the 95 percent? According to Accenture research, 95 percent of senior executives aren’t sure if their operating models are right for today’s world.

Two keys to success

Accenture experience and research shows that top insurers get two things right: strategy and execution. The first depends on a comprehensive business strategy, the second on an innovative operating model.

But what’s the definition of an innovative operating model?

Characteristics of an innovative operating model

An innovative operating model focuses and fosters the agility that insurers need to deliver exceptional customer experiences. It connects the dots against four core business components:

  • Leadership that takes ownership of the model and champions its success.
  • Organization architecture and infrastructure that guides and facilitates decision making.
  • People with the right skills and competencies—in the right roles.
  • Processes and technologies that define capabilities and their performance.

As shown in Figure 1, these four components must align before an insurer can execute effectively to achieve superior business results.

Core elements of an innovative operating model
View the larger image.

Join me next week as I share the four key benefits of an innovative operating model.

To learn more, download Running Your Business for Growth: Could Your Operating Model Be Standing in the Way? (pdf; opens in a new window).

Submit a Comment

Your email address will not be published. Required fields are marked *