Other parts of this series:
- Innovate or downscale: the insurer’s dilemma in the digital economy
- It’s time to challenge the old orthodoxies that are stopping insurers from becoming innovators
- Here’s how insurers can transform themselves into innovators
- These digital technologies need to be on the watch-list of every insurer
- Insurers must learn the golden rule of innovation – collaboration is crucial
- Experience required: Insurers need to delight their employees as much as their customers
Insurers are recognizing the critical importance of providing their customers with relevant and engaging digital experiences. Now, they must deliver similar experiences to their employees.
Many insurers are recognizing that they need to provide their customers with relevant and engaging digital experiences if they are to thrive in an increasingly competitive industry. Now, they have to adopt a similar approach for their employees.
Effectively managing the employee experience is going to be crucial to the success of insurance providers. Just as customers want insurers to provide them with excellent online experiences, like they receive from Apple, Amazon and Google, knowledge workers are beginning to insist on high-quality digital experiences when they come to work. They may not be petitioning their managers for such improvements but they’re already voting with their feet.
Employers that provide their staff with stimulating and creative work environments, which offer plenty of engagement with digital technology, will find it much easier to attract and retain scarce talent than their more staid counterparts. The battle for digital skills is going to intensify as companies across a wide range of industries increasingly deploy digital technology to overhaul their businesses and deliver new products and services.
At the Digital Insurers Network (DIN) forum, recently convened in Paris by Accenture, delegates identified some key steps that could help insurers improve their employee experience.
Image make-over: Job-seekers, especially young people, typically perceive insurers to be traditional and conservative. Closer co-operation with universities and business incubators will enable carriers to present themselves as technology-driven organizations developing innovative digital solutions.
Social media: In-house social media and collaborative services provide a great opportunity for business leaders to engage with employees about developments within the organization and to build a strong presence in the workplace. Digital channels shouldn’t be used just to promote executive agendas. They’re ideal channels to encourage collaborative work practices and to promote “design thinking” and “start-up approaches” to innovation.
Intelligent automation: Smart automation doesn’t only replace jobs. Increasingly, it’s able to support and advise knowledge workers. This improves employee productivity and efficiency and also frees workers to concentrate more on interesting and rewarding tasks.
Distributed decision-making: By spreading responsibility for making decisions to the edges of their organizations, using technologies such as data visualization, insurers can greatly empower their employees. Carriers will also be better able to respond to the fast-changing demands of the digital economy.
Gamification: Tech firms such as Microsoft are introducing gamification technologies into the digital systems used by their employees. This is enhancing worker performance and motivation.
Project teams: Frequently regrouping employees into autonomous teams to tackle specific projects, rather than confining them to set corporate hierarchies, increases staff performance and encourages greater communication and collaboration.
Liquid workforces: Pulling in on-demand contractors and freelance specialists, with critical skills, to support employees on key projects can promote the transfer of knowledge to permanent employees as well as build work environments that encourage collaboration and thrive on change.
If you would like to learn more about the DIN, please email firstname.lastname@example.org.