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The Critical Role of Value-Driven AI in Shaping the Future of Insurtech

In Uncategorized by Roger Lewis

Full article with thanks to: insurancebusinessmag.com/uk/news/technology/is-ai-headed-down-the-same-track-as-insurtech The term is becoming redundant, expert argues. Artificial intelligence (AI) has grown to encompass a broad range of financial technology applications, and insurtechs billing their offerings as “AI-powered” must work harder to distinguish themselves in a crowded marketplace, an expert has warned. Dr. Andrew Johnston (pictured), global head of insurtech at Gallagher Re, suggested that the …

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Navigating the Future: Adopting Digital for Market Readiness

In Uncategorized by Roger Lewis

Full article with thanks to: mckinsey.com/industries/financial-services/our-insights/insurance-blog/the-how-of-digital-and-analytics-in-insurance Last week, a gathering of business and digital insurance leaders focused on a common question: We know why and what to pursue in a digital transformation—but how do we get it done? Insurance executives are acutely aware of the need to imbue their company with digital and analytics capabilities. They know why they need to pursue …

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The Transformative Role of Underwriting Workbenches in Risk Assessment

In Uncategorized by Roger Lewis

Full article with thanks to: techround.co.uk/finance/underwriting-workbench-explained In the intricate landscape of finance, where uncertainties are inherent, underwriting assumes a critical role in ensuring the stability and prosperity of businesses. The conventional underwriting process involves a detailed examination of various factors to evaluate the risk associated with a specific transaction or investment. However, as the financial landscape evolves, there is a …

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The 2030s Digital Paradigm: Groundbreaking Technologies on the Horizon

In Uncategorized by Roger Lewis

Full article with thanks to: imd.org/ibyimd/technology/what-might-digital-transformation-look-like-over-the-next-decade I was recently tasked with drafting an article on what tomorrow’s technologies would look like. I quickly came up with a hitlist of the digital technologies I thought would be around. But then, in keeping with our times, I thought I’d ask Chat GPT-4 what it thinks about it too. Within a matter of …

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The Future of Underwriting: Transforming Commercial Insurance with Technology

In Uncategorized by Roger Lewis

Full article with thanks to: forbes.com/sites/forbesbusinesscouncil/2024/01/04/considerations-for-modernizing-the-underwriting-process-in-commercial-insurance The commercial insurance industry is at an inflection point due to several economic uncertainties like inflation, sluggish rate growth, competition for distribution partner preferences and more. These factors, along with increasing natural catastrophes and the growing threat of cyber risks are challenging insurers. It is now necessary that carriers examine and transform their product portfolio strategies and pricing …

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Pioneering Financial Decisions with Artificial Intelligence

In Uncategorized by Roger Lewis

Full article with thanks to: techround.co.uk/guides/8-ways-ai-impact-financial-decision-making With technology rapidly progressing, it’s evident that artificial intelligence has gained prominence in the finance sector. AI is revolutionising decision-making processes in areas such as investment and risk management for financial institutions and underwriters, ranging from underwriting workbenches to other key decision making processes. As we contemplate the future of decision-making in finance, it’s imperative to grasp …

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UK’s Insurtech Supremacy: Leading Global Innovation

In Uncategorized by Roger Lewis

London has been the global epicenter of innovation in the insurance industry since the 1600s, when Lloyd’s of London was established. Today, the United Kingdom is positioned as a global leader in the field of insurtech. A flourishing ecosystem of start-ups, investors, and incumbents are working together to drive innovation and growth in the industry, from artificial intelligence and machine learning …

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Redefining Risk Assessment: The Machine Learning Edge in Underwriting

In Uncategorized by Roger Lewis

Full article with thanks to: techround.co.uk/guides/tech-improves-underwriting-decisions-insurance In the rapidly evolving landscape of the insurance industry, technology has become a driving force behind enhanced efficiency, accuracy, and innovation. One of the critical areas where technology is making a substantial impact is underwriting. Underwriting decisions form the bedrock of insurance, determining the risk profile of policyholders and setting premiums accordingly. In this article, we …

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The New Era of Insurance: Merging Digital Innovation and Customer-Centric Approach

In Uncategorized by Roger Lewis

Full article with thanks to: forbes.com/sites/forbesfinancecouncil/2019/12/11/what-digital-and-underwriting-changes-mean-to-the-insurance-industry/?sh=f52fbe163e88 Digital transformation is disrupting the insurance industry, and the changes are creating both new demands and new opportunities. While quick online quotes may be the most readily evident transformation that has occurred to date, they’re merely the surface of what is in store for the industry. From product creation to financing to automated underwriting, …

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Striking the Right Balance: Humans and AI in a Transformative Era

In Uncategorized by Roger Lewis

Full article with thanks to: forbes.com/sites/forbestechcouncil/2023/08/17/navigating-change-management-in-the-era-of-generative-ai Generative AI is set to revolutionise the workforce, dramatically changing what we do and how we do it. As we enter this new era of generative AI, business leaders face the difficult task of discerning how to implement the technology alongside their workforce—and whether it will replace certain positions altogether. As companies look for …

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Tech Innovations Reshaping Insurance Underwriting: A Top 10 Overview

In Uncategorized by Roger Lewis

Full article with thanks to: techround.co.uk/guides/tech-improves-underwriting-decisions-insurance In the rapidly evolving landscape of the insurance industry, technology has become a driving force behind enhanced efficiency, accuracy, and innovation. One of the critical areas where technology is making a substantial impact is underwriting. Underwriting decisions form the bedrock of insurance, determining the risk profile of policyholders and setting premiums accordingly. In this article, we …

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The Five Pillars of Effective Digital Innovation Governance

In Uncategorized by Roger Lewis

Full article with thanks to: sloanreview.mit.edu/article/rethinking-governance-for-digital-innovation Rapid, iterative, customer-centric innovation is possible in large companies — but not if you carry over your traditional ways of working. Innovative ventures need innovative governance. When global chemical company BASF launched its Onono lab in São Paulo, Brazil, its mission was to accelerate innovation through rapid collaboration with local partners and startups. But …

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Navigating Change in Underwriting: The Path to Digital Integration

In Uncategorized by Roger Lewis

Full article with thanks to: nsurancethoughtleadership.com/going-digital/rules-digital-transformation Insurance systems need to talk to each other. They must be able to store, share, retrieve and use the same data. Data should flow unimpeded from the first collection of information, from a prospect or census, through underwriting to policy administration to claims. Failure to integrate data adds cost and complexity and introduces errors. …

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Bridging the Digital Divide in Insurance Underwriting: A New Era of Data Integration

In Uncategorized by Roger Lewis

Full article with thanks to: insurtechinsights.com/making-the-digital-leap-in-underwriting Underwriting has historically been one of the most data-intensive areas of insurance. But when it comes to looking at investments and results, data and information handling for underwriting at most carriers is still disjointed and disconnected. This is underwriting’s version of the digital divide we’ve been discussing in this series, and it leads to …

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Why Change Management is Crucial Before Implementing a New System

In Uncategorized by Roger Lewis

Full article with thanks to: forbes.com/sites/forbestechcouncil/2023/04/19/to-successfully-implement-a-new-system-make-change-management-a-priority In the evolving post-pandemic business landscape, digital transformation is inescapable. Companies across every industry are leveraging technology at the centre of their outlooks and relying on a rapidly growing menu of SaaS and AI solutions to facilitate daily business processes. Spending on digitisation and automation is projected to reach $3.4 trillion U.S. dollars by 2026 (doubling 2022 …

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A Guide to Decoding the Right Risk Placement Platform

In Uncategorized by Roger Lewis

Full article with thanks to: https://www.insiderengage.com/article/2c5n3jrrv7rdm98v0ptz4/events/monte-carlo-2023/the-importance-of-being-well-informed-when-choosing-a-risk-placing-platform Making a well-informed choice on which electronic risk placement platform you adopt when PPL forces you off its current v3 system in October sounds like a sensible thing to do. It’s a strategic decision, after all, and one that will seriously affect your working practice either in a positive or negative way. Since the …

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Embrace AI or Get Left Behind: Thriving in the AI-Driven Landscape

In Uncategorized by Roger Lewis

Full article with thanks to: hbr.org/2023/08/how-to-reskill-your-workforce-in-the-age-of-ai How will AI affect businesses and employees? It’s the million-dollar question, and according to Harvard Business School’s Raffaella Sadun, the answer will depend on how well an organisation connects the new technologies to both a broad corporate vision and individual employee growth. One without the other is a recipe for job elimination and fewer …

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Embracing AI: Transforming the Insurance Landscape and What That Means for Underwriting

In Uncategorized by Roger Lewis

Full article with thanks to: mckinsey.com/industries/financial-services/our-insights/insurance-2030-the-impact-of-ai-on-the-future-of-insurance Welcome to the future of insurance, as seen through the eyes of Scott, a customer in the year 2030. His digital personal assistant orders him a a vehicle with self-driving capabilities for a meeting across town. Upon hopping into the arriving car, Scott decides he wants to drive today and moves the car into “active” …

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Optimising Underwriting in the Digital Age: A Guide to Essential Workbench Features

In Uncategorized by Roger Lewis

Full article with thanks to: techround.co.uk/guides/features-need-underwriting-workbench Global underwriters are increasingly adopting underwriting workbenches to streamline workflows, integrating established technologies with cutting-edge advancements in AI automation and data-driven decision-making. These professionals typically use diverse tools daily, scattered across an insurer’s tech ecosystem. An underwriter’s workbench neatly consolidates these tools into a unified, streamlined interface.  In this article, we will explore the …

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Outdated vs. Effective: Personalisation in Change Management

In Uncategorized by Roger Lewis

Full article with thanks to: mckinsey.com/capabilities/people-and-organizational-performance/our-insights/the-organization-blog/when-one-size-doesnt-fit-all-how-to-make-change-personal Successfully transforming an organisation continues to be one of the greatest challenges facing leaders, as it requires changing the behaviours and underlying mindsets of a critical mass of people. Behavioural-science research shows that there are four levers to driving change: role modelling, fostering understanding and conviction, reinforcing with formal mechanisms, and building confidence and skills. Together, these are …

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Change Management in Focus: The Four Enduring Factors of Success

In Uncategorized by Roger Lewis

Full article with thanks to: hbr.org/2005/10/the-hard-side-of-change-management When French novelist Jean-Baptiste Alphonse Karr wrote “Plus ça change, plus c’est la même chose,” he could have been penning an epigram about change management. For over three decades, academics, managers, and consultants, realising that transforming organisations is difficult, have dissected the subject. They’ve sung the praises of leaders who communicate vision and walk the talk …

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From Vision to Reality: Secrets to Building Winning Roadmaps for Business

In Uncategorized by Roger Lewis

Full article with thanks to: forbes.com/sites/forbestechcouncil/2023/09/14/20-effective-and-industry-current-roadmapping-methods-and-tips/ Developing a roadmap is a key skill for a tech leader or product manager. These dynamic, visual plans detail the scope of both individual projects and tech team initiatives, and they unify stakeholders around a common vision that’s highlighted by essential tasks, goals and priorities. While there are a number of roadmapping strategies and …

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Technology Alignment: The Key to Thriving in the Digital Age

In Uncategorized by Roger Lewis

Full article with thanks to: forbes.com/sites/forbestechcouncil/2023/09/14/digital-transformation-focus-areas-to-maximize-impact-for-your-business/ Every single day, an avalanche of interactions and operations introduces 328.77 million terabytes of data in the digital domain. To put that in perspective, this digit-packed figure is as grand as 328,770,000,000,000 bytes. Yet, having a lot of data means nothing if we do not know how to manage it and integrate its capabilities. Why Should We …

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The Missing Link in Change Implementation: Ownership and Commitment

In Uncategorized by Roger Lewis

Full article with thanks to: mckinsey.com/capabilities/operations/our-insights/secrets-of-successful-change-implementation Any executive who has led a major change program knows that even the most carefully planned programs can fail because of mediocre implementation. Turning plans into reality isn’t easy, and certain companies seem to be better at it than others. To learn how some of the world’s leading companies ensure implementation excellence, we conducted a survey …

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From Chaos to Clarity: How Processes Enhance Organisational Efficiency

In Uncategorized by Connie Powell

In the contemporary realm of management, organisations are increasingly recognising the pivotal role of processes in achieving efficiency, coordination, and clarity. This blog delves into the transformative potential of processes in enhancing organisational efficiency and offers a comprehensive overview of this crucial concept. Let’s explore this journey step by step: The Imperative for Process-Oriented Management In today’s rapidly evolving business …

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Adaptive Leadership: Key Benefits for Leading Change Successfully

In Uncategorized by Roger Lewis

Leadership is an ever-evolving journey, and one of the greatest challenges that leaders face is the unpredictability of their roles. The past couple of years have been a stark reminder of how dramatically and unexpectedly the job requirements of leaders can change. From responding to the pandemic to managing remote workforces and addressing issues like social justice, supply chain disruptions, …

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The Five Pillars of Effective Change Management: Insights from a Consultant

In Uncategorized by Roger Lewis

Full article with thanks to: medium.com/@abhijeet.gaware/5-fundamental-facts-about-change-management-explained Change management is a specialised field of study within the context of a particular organisation whereby it is a stated fact that change is essentially nothing but a state of transition from the present state of the business to a future one. Business organisations mostly look forward to one singular thing during the entire timeline …

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Navigating the Digital Risk Landscape: 7 Building Blocks for Success

In Uncategorized by Roger Lewis

Full article with thanks to: mckinsey.com/capabilities/risk-and-resilience/our-insights/the-future-of-risk-management-in-the-digital-era he facts about the digital era are becoming familiar but remain astonishing. Computing power has doubled annually since the 1970s,1 and costs have fallen at about the same rate. With every human activity now digitally recorded (even sleep, in Apple’s new health app), more data have been generated over the past two years than in all …

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The Power of ‘Why’ in Change Management: 6 Key Steps to Success

In Uncategorized by Roger Lewis

Full article with thanks to: forbes.com/sites/janesparrow/2021/05/07/ten-tips-for-effective-change-management-that-puts-your-team-first More so than ever right now, teams are working in a fully remote or hybrid way. This means it’s more important than ever to have effective change management strategies in place, to suit this new way of working.  For leaders, an important part of this is making sure that we do everything in our …

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The Four Key Routines for Sustained High Performance in Agile Organisations

In Uncategorized by Roger Lewis

Full article with thanks to: sloanreview.mit.edu/article/creating-management-processes-built-for-change Good management processes help a company execute its strategy and exercise its capabilities. But in fast-changing business environments, companies also need agile management processes that can help the organisation change when needed. The word “agility” has entered the business lexicon like few other terms in recent memory.1 Today’s strategists extol the importance of strategic agility …

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Decoding Change: The Formula for Organisational Transformation

In Uncategorized by Roger Lewis

Anyone who pulls the organisation in new directions must look inward as well as outward. Full article with thanks to: mckinsey.com/featured-insights/leadership/change-leader-change-thyself Leo Tolstoy, the Russian novelist, famously wrote, “Everyone thinks of changing the world, but no one thinks of changing himself.” Tolstoy’s dictum is a useful starting point for any executive engaged in organisational change. After years of collaborating in efforts …

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Mastering Change Management: Understanding Driving Forces and Navigating Roadblocks

In Uncategorized by Roger Lewis

Full article with thanks to: online.hbs.edu/blog/post/change-management-process Businesses must constantly evolve and adapt to meet a variety of challenges—from changes in technology, to the rise of new competitors, to a shift in laws, regulations, or underlying economic trends. Failure to do so could lead to stagnation or, worse, failure. Approximately 50 percent of all organisational change initiatives are unsuccessful, highlighting why knowing how …

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Unlocking the Power of Digital Hives: How Online Communities Drive Organisational Change

In Uncategorized by Roger Lewis

Full article with thanks to: mckinsey.com/capabilities/people-and-organizational-performance/our-insights/digital-hives-creating-a-surge-around-change New lessons are emerging for executives striving to harness the power of social media in the cause of wider employee participation. Clearly, there’s more to success than just investing heavily in the latest Enterprise 2.0 technology platforms. Large-scale engagement of the workforce requires, first and foremost, a firm grasp of organisational culture and its social …

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Navigating the Culture-Transformation Matrix: Balancing Continuity and Change in Digital Transformations

In Uncategorized by Roger Lewis

Full article with thanks to: sloanreview.mit.edu/article/cracking-the-culture-code-for-successful-digital-transformation Finding the right balance between continuity and change can help leaders better manage the cultural changes that occur during a digital transformation. Full article with thanks to: sloanreview.mit.edu/article/cracking-the-culture-code-for-successful-digital-transformation Digital transformation transcends technology and business models. Organisational culture also plays a critical role in successfully leading an organisation into the digital era; indeed, the success …

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Change is About People: First, Last, Always

In Uncategorized by Roger Lewis

Full article with thanks to: cio.com/article/306342/10-hard-truths-of-change-management.html For IT, change is constant — so too is the need to assess, address, and reinforce your organisation’s ability to adapt and transform. The days of one-off change management initiatives are over. Rather than tackle organisational change management with an end in mind, IT leaders and their organisations must now exist in an environment …

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Change to Survive: Learning How to Do So Quickly, May May Be One of the Most Important Powers of Tomorrow’s Successful Companies

In Uncategorized by Roger Lewis

Full article with thanks to: forbes.com/sites/forbesbusinesscouncil/2023/06/01/embracing-change-in-the-workplace The ability to quickly retool how we get things done may be one of the most important powers of tomorrow’s successful companies. And shedding our natural reluctance to change could be one of the biggest advantages we’ll attribute to the recent years of global turmoil. For eons, the process of work has changed constantly, …

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Digital Transformation for Small Businesses: Making it Work for You

In Uncategorized by Roger Lewis

Full article with thanks to: forbes.com/sites/forbesfinancecouncil/2023/06/15/digital-transformation-in-finance-how-companies-can-boost-resiliency/?sh=3a68a8f14dd8 Heading into 2023, many economists predicted that this would be yet another challenging year. Q1 began with the continuation of management teams trimming operating costs in the form of mass layoffs across business industries in attempts to offset an inflationary and high-interest-rate environment and came to a close with industrywide worries about the health of the global banking …

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Cracking the Conundrum: Balancing ‘Doing,’ Managing, and Leading for Successful Change Management

In Uncategorized by Roger Lewis

Full article with thanks to: forbes.com/sites/hillennevins/2023/06/22/crack-the-do-manage-lead-conundrum Are Your Focusing Your Time And Energy In The Right Places? “Are Management and Leadership different?” is one of the oldest questions you’ll hear at business schools, and in some ways it’s the MBA’s equivalent of the ancient theological question “How many angels can dance on the head of a pin?” Management and Leadership …

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Driving Innovation: The Crucial Role of Business Process Management (BPA)

In Uncategorized by Roger Lewis

Full article with thanks to: forbes.com/sites/rogertrapp/2023/06/05/management-of-the-process-is-at-the-heart-of-innovation-success Innovation is — as they say — like motherhood and apple pie; by general agreement, it is a good thing. And, true to this view, few businesses do not aim to be innovative, even if they do not openly claim to be so. It might seem odd then that companies seem to be so …

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Adapting to the Unchangeable: Strategies for Embracing Transformative Change in Business

In Uncategorized by Roger Lewis

The breakneck pace of AI development, new use case applications for peer-to-peer connectivity and the ease or availability of mediums through which you can reach to market and engage with your target audience are unlike any other time in the documented human history—but does this mean the survival in this ever-changing landscape is only for the deliverer of these tech …

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Unlocking Success: How Small Businesses Can Master Digital Transformation

In Uncategorized by Roger Lewis

Digital transformation is a hot topic today, but what does it mean for small businesses? Eric Lamarre, Kate Smaje, and Rodney Zemmel, senior partners from global management consulting firm McKinsey, have a book coming out in June that addresses how companies “can build and flex their muscle by leveraging the power of AI, enhancing customer experience, and driving profitability through …

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The Power of Retrospectives: Essential Tools for Effective Change Management

In Uncategorized by Roger Lewis

Full article with thanks to: forbes.com/sites/forbesbooksauthors/2023/06/22/why-retrospectives-should-be-in-every-managers-toolkit In the arts, a retrospective is a career review. One might take in the Andy Warhol retrospective at MoMA or the Stanley Kubrick retrospective downtown. In business, a retrospective is also a sort of review, but with the focus on assessing progress and problems and determining next steps. It’s been standard practice in software …

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Workplace Management: 9 Essential Questions Smart Leaders Use for Change Management

In Uncategorized by Roger Lewis

Full article with thanks to: forbes.com/sites/rodgerdeanduncan/2023/05/26/9-questions-to-help-you-manage-your-workplace-smartly For most of us, change is not a sometime thing. It’s an all-the-time thing. And as one Army general said: if you don’t like change, you’ll like irrelevance even less. Sure, change is sometimes uncomfortable. But nothing is as uncomfortable as staying stuck where you don’t belong. Most every workplace change involves an adjustment …

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The Human Side of Change Management: Unveiling the Power of Getting Personal

In Uncategorized by Roger Lewis

Full article with thanks to: mckinsey.com/capabilities/people-and-organizational-performance/our-insights/getting-personal-about-change Asurefire way to shoot yourself in the foot when you’re leading a large-scale change effort is to ignore what’s on the minds of your employees. In research we conducted for our recently published book, Beyond Performance 2.0 (John Wiley & Sons, July 2019), we found that executives at exactly zero companies that disregarded an analysis of employee …

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Proven Strategies to Inspire Effective Leadership and Management

In Uncategorized by Roger Lewis

Full article with thanks to: forbes.com/sites/forbesfinancecouncil/2023/06/15/how-to-instill-leadership-in-management It’s easy to conflate management and leadership, even though they are two very different experiences, each requiring its own unique skill set. “Manager” is a role of appointment, while “leader” is a role of selection. The standard for managing can be met with tactical execution through others, while leadership raises the bar and focuses …

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Mastering Change Management: Five Dynamic Approaches for Shaping a Shared Vision

In Uncategorized by Roger Lewis

Full article with thanks to: forbes.com/sites/forbesbusinesscouncil/2023/03/30/in-pursuit-of-a-shared-vision-five-change-management-approaches-for-changing-times/?sh=6d0f654e61cb At all levels of an enterprise, the most defining change of the past decade may be the pace of change itself. Rapid technological innovation and evolving information streams have amplified the importance of agile approaches, and nowhere more so than in change management. Harvard Business School defines change management as the overall approach to guiding organisational …

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Effortless Reorganisation: A Blueprint for Seamless Change Management and Communication

In Uncategorized by Roger Lewis

Full article with thanks to: mckinsey.com/capabilities/people-and-organizational-performance/our-insights/reorganization-without-tears A corporate reorganisation doesn’t have to create chaos. But many do when there is no clear plan for communicating with employees and other stakeholders early, often, and over an extended period. Most executives and their employees dread corporate reorganisations, as we can personally attest. During our combined 35 years of advising companies on organisational matters, …

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System Implementation Success: Prioritising Change Management for Seamless Integration

In Uncategorized by Roger Lewis

Full article with thanks to: forbes.com/sites/forbestechcouncil/2023/04/19/to-successfully-implement-a-new-system-make-change-management-a-priority In the evolving post-pandemic business landscape, digital transformation is inescapable. Companies across every industry are leveraging technology at the centre of their outlooks and relying on a rapidly growing menu of SaaS and AI solutions to facilitate daily business processes. Spending on digitisation and automation is projected to reach $3.4 trillion U.S. dollars by 2026 (doubling 2022 …

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Digital Transformation Debunking: the 5 Biggest Myths That You Need to Know

In Uncategorized by Roger Lewis

Full article with thanks to: forbes.com/sites/bernardmarr/2023/06/13/the-5-biggest-misconceptions-about-digital-transformation If you’re interested in business and technology, I’m sure you’ve come across the term “digital transformation” quite a lot in recent years. The basic take is that it’s about leveraging the latest emerging technology trends – perhaps artificial intelligence (AI) or the Internet of Things (IoT) in order to do business more effectively. That …

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Lead Yourself, Lead Others: The Key to Effective Change Management

In Uncategorized by Roger Lewis

Full article with thanks to: forbes.com/sites/forbesbusinesscouncil/2023/06/26/before-you-manage-others-manage-yourself-first/?sh=14ab35591b20 Pre-flight safety briefings have become more engaging in the past few years—from innovative videos to cabin crews’ comedic routines or musical variations. But the subject matter really hasn’t changed. If you are a frequent flyer like me, you could probably give the safety demonstration yourself. Despite the countless times I’ve heard the guidelines, one …

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How Customer Value Drives the Digital Transformation Path

In Uncategorized by Roger Lewis

Full article with thanks to: forbes.com/sites/forbesbusinesscouncil/2023/06/26/before-you-manage-others-manage-yourself-first/?sh=14ab35591b20 During the past several years, the digitisation of business processes accelerated more than anyone thought possible. Overall, these changes had a positive impact on businesses, enabling them to meet market demand, overcome staff and supply chain shortages and even find more efficient paths to market and revenue. While the collective experience has been a …

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The Four Building Blocks of Change Management according to McKinsey

In Uncategorized by Roger Lewis

Full article with thanks to: www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/the-four-building-blocks–of-change Four key actions influence employee mind-sets and behaviour. Here’s why they matter. Large-scale organisational change has always been difficult, and there’s no shortage of research showing that a majority of transformations continue to fail. Today’s dynamic environment adds an extra level of urgency and complexity. Companies must increasingly react to sudden shifts in the marketplace, …

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From Now to Next: How Change Management Creates Business Success

In Uncategorized by Roger Lewis

Full article with thanks to: forbes.com/sites/forbesbusinesscouncil/2023/04/26/change-management-how-to-get-from-now-to-next/?sh=5635389c5be6 As a leader, if there is one change management challenge that is never easy to navigate, it is a layoff. It is a complex and emotional experience and can be difficult for your employees and the organisation. It’s easy to feel overwhelmed and unsure of the best way to navigate this uncertain time because …

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Organisational Culture: Communication as the Heartbeat of Employee Engagement

In Uncategorized by Roger Lewis

Full article with thanks to: sloanreview.mit.edu/article/communication-is-at-the-heart-of-positive-employee-relationships In today’s competitive job market, companies must focus not only on finding the best candidates but also on fostering positive relationships with them, starting with the first step of the recruitment process through every stage of employment. Communication is key to successfully creating those connections. How leaders communicate with prospective and current staff members …

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How Companies Are Relearning How to Learn

In Uncategorized by Roger Lewis

Full article with thanks to: sloanreview.mit.edu/article/its-time-to-face-the-three-challenges-of-learning Most executives acknowledge that learning is crucial to the performance of their business. But at a recent research workshop that my team and I ran with executives from over 40 companies, it became clear that organisations’ traditional learning models are facing pressure from the emergence of new work models. The participants identified these three …

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The Unpredictable Path: Exploring the Irrational Side of Change Management

In Uncategorized by Roger Lewis

Full article with thanks to: mckinsey.com/capabilities/people-and-organizational-performance/our-insights/the-irrational-side-of-change-management Most change programs fail, but the odds of success can be greatly improved by taking into account these counterintuitive insights about how employees interpret their environment and choose to act. In 1996, John Kotter published Leading Change. Considered by many to be the seminal work in the field of change management, Kotter’s research revealed that …

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Rollouts Made Easy: Understanding the Process and Benefit of Managing the People Change properly

In Uncategorized by Roger Lewis

Full article with thanks to: investopedia.com/terms/r/rollout.asp What Is a Rollout? Rollout is an informal business term for the introduction and integration of a new product or service to the market. A rollout often refers to a significant product release, which is frequently accompanied by a strong marketing campaign, to generate consumer interest. There can also be rollouts of new changes within …

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Navigating Change in the Digital Era: Strategies for Effective Change Management

In Uncategorized by Roger Lewis

Full article with thanks to: https://www.forbes.com/sites/forrester/2023/06/23/change-management-in-digital-transformation/?sh=9db2f6316974 Change resistance is derailing transformations at an alarming rate. It’s no surprise that, according to Forrester’s Business And Technology Services Survey, 2022, change resistance is among the five most frequently selected challenges in executing digital transformation: 21% of global services decision-makers supporting their organisation’s digital transformation cited implementation of new processes and capabilities as one …

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Generative AI Enhances Customer Service Jobs, Not Erases Them

In Uncategorized by Roger Lewis

Full article with thanks to: https://hbr.org/2023/03/generative-ai-will-enhance-not-erase-customer-service-jobs The potential for generative AI like ChatGPT to disrupt how humans interact with computers, change how information is retrieved, and transform jobs across industries has left a lot of company leaders scratching their heads. As with other breakthroughs in AI, ChatGPT and similar large language models (LLMs) raise big questions about their impact on jobs and …

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Balancing Your Product and Behavioural Change with The 9x Effect

In Uncategorized by Roger Lewis

Full article with thanks to: hbr.org/2006/06/eager-sellers-and-stony-buyers-understanding-the-psychology-of-new-product-adoption More than a century ago, Ralph Waldo Emerson is reported to have said, “If a man can write a better book, preach a better sermon, or make a better mousetrap than his neighbor, though he build his house in the woods, the world will make a beaten path to his door.” If only marketing …

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Innovation Should Not Be a Leap of Faith

In Uncategorized by Roger Lewis

Full article with thanks to: forbes.com/sites/forbestechcouncil/2021/11/22/transformative-technology-requires-a-journey-of-trust/?sh=3fa3e6437277 The capacity for technology innovation to improve people’s lives depends first and foremost on individuals’ and communities’ willingness to use it, and the importance of the latter’s trust grows as the former promises greater transformation. A journey to earning it should be core to any development plan and every MVP. Innovation Should Not Require …

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This is The Real Way to Improve Technology Adoption in Your Organisation 

In Uncategorized by Roger Lewis

Full article with thanks to: forbes.com/sites/forbestechcouncil/2022/10/25/how-to-properly-use-data-to-boost-your-tech-adoption/?sh=76569a4e7e1c Data has become an essential resource for companies everywhere. A recent McKinsey survey found that more than 60% of businesses from all over the world believe they need to turn themselves into digital-first enterprises through the use of data analytics. It makes sense, though I expected that number to be higher. Why? Because digital transformation in …

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Looking for Better Adoption of Your New Technology?

In Uncategorized by Roger Lewis

Full article thanks to: inc.com/greg-satell/4-principles-of-digital-transformation.html When Steve Jobs and Apple launched the Macintosh with great fanfare in 1984, it was to be only one step in a long journey that began with Douglas Engelbart’s Mother of All Demos and the development of the Alto at Xerox PARC more than a decade before. The Macintosh was, in many ways, the culmination of everything that came …

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Mergers & Acquisitions: The Secrets to Success

In Uncategorized by Roger Lewis

Full article with thanks to: forbes.com/sites/forbesbusinesscouncil/2022/05/27/mergers–acquisitions-the-secrets-to-success/?sh=2da3cf6456bd Mergers and acquisitions (M&As) are all the buzz right now with the likes of Amazon and Google making headlines for their big business deals. In 2021, global M&A volumes reached $5.9 trillion—a record high with a 64% increase from 2020. Technology, financials, industrials and energy and power accounted for the bulk of those deals. But, …

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Top Five Tips for Successful Mergers & Acquisitions

In Uncategorized by Roger Lewis

Full article with thanks to: forbes.com/sites/forbesbusinesscouncil/2021/09/13/top-five-tips-for-successful-mergers-and-acquisitions As the CEO of Revolution Capital, I’ve negotiated several mergers and acquisitions (M&A) over the years ⁠— including five in the past two years ⁠— and along the way, I’ve learned a lot. While each M&A is individually unique and should be managed as such, there are some key things that are consistent across …

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Four “Must-haves” to Unstick Your Change Programme

In Uncategorized by Roger Lewis

Full article with thanks to: forbes.com/sites/forbescoachescouncil/2022/02/09/no-urgency-no-champion-no-change-four-must-haves-to-drive-organizational-change/?sh=3af6321b2150 Recently, I was speaking with a colleague about one of his clients. He was relaying a story about key customer-facing initiatives, many years in development, that were languishing in his client’s organization. While some elements had been activated, the entirety of the scope had not been realized. These next-level initiatives were planned to improve …

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How to Get Your Staff Up to Speed Quickly After an IT Change…

In Uncategorized by Roger Lewis

Full article with thanks to: forbes.com/sites/forbeshumanresourcescouncil/2022/03/11/change-management-13-ways-to-introduce-new-technology As company leaders continue to update their daily operational systems and how they conduct business with clients in a modern age, it’s no easy feat to get the team on board in one fell swoop or bring everyone up to speed in the same time frame. To facilitate a smooth transition when you’re ready …

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Why Organisational Change Management Can Improve IT Processes

In Uncategorized by Roger Lewis

Full article with thanks to: forbes.com/sites/forbesbusinessdevelopmentcouncil/2021/09/20/use-organizational-change-management-to-keep-it-moving-forward Modern device management for over-the-air provisioning. AI-enabled automation. Proactive problem detection. These are a few ways to enable better digital workplace experiences. But delivering better experiences requires more than just new technology. To ensure digital transformation success, IT leaders must address organisational change management (OCM). Here is what IT leaders can do to advance OCM …

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How to Promote Workplace Gender Equality in M&A and Beyond

In Uncategorized by Roger Lewis

Full article with thanks to: forbes.com/sites/forbesfinancecouncil/2022/03/31/ma-in-2022-is-still-deeply-male-how-to-level-the-playing-field-for-women/?sh=98256184f8d8 For years, I second-guessed myself. I had everything it took to be successful in mergers and acquisitions (M&A): knowledge, skill, competence, passion, motivation. Yet one thing set me apart from my peers: I was a woman. I would enter a boardroom and immediately feel singled out. People didn’t listen to me the same way …

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How Comms Professionals Prepare An Organisation For Change

In Uncategorized by Roger Lewis

Full article with thanks to: forbes.com/sites/forbescommunicationscouncil/2022/02/24/how-comms-pros-can-prepare-their-organizations-for-constant-change When it comes to creating a healthy organisational culture in an ever-evolving business landscape, employee communication and engagement are key to successful change management. Ensuring the most consequential messaging gets through to the most important stakeholders in an organisation falls within the purview of its communications team, so the ability to create and execute …

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Why IT Leaders Need To Remember About Change Management

In Uncategorized by Roger Lewis

Full article with thanks to: forbes.com/sites/forbesbusinessdevelopmentcouncil/2021/09/20/use-organizational-change-management-to-keep-it-moving-forward Modern device management for over-the-air provisioning. AI-enabled automation. Proactive problem detection. These are a few ways to enable better digital workplace experiences. But delivering better experiences requires more than just new technology. To ensure digital transformation success, IT leaders must address organisational change management (OCM). Here is what IT leaders can do to advance OCM …

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Are You A Manager Looking For Ways To Level The Gender Playing Field?

In Uncategorized by Roger Lewis

Full article with thanks to: forbes.com/sites/forbesfinancecouncil/2022/03/31/ma-in-2022-is-still-deeply-male-how-to-level-the-playing-field-for-women For years, I second-guessed myself. I had everything it took to be successful in mergers and acquisitions (M&A): knowledge, skill, competence, passion, and motivation. Yet one thing set me apart from my peers: I was a woman. I would enter a boardroom and immediately feel singled out. People didn’t listen to me the same …

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The Return To Work Is Not The Same For Everyone

In Uncategorized by Roger Lewis

Full article with thanks to: forbes.com/sites/drnancydoyle/2022/04/01/return-to-work-three-considerations-for-neurodivergent-employees So despite some rising Covid case wobbles, there is a renewed determination for businesses to return to work as we inch towards an endemic pandemic. Many reports are unhelpfully setting this up as a battle between managers and workers, with overbearing managers demanding returns and employees resisting the commute. Whilst we are seeing some …

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What You Need to Know About Digital Transformation

In Uncategorized by Connie Powell

Full article with thanks to: innopharmaeducation.com/news/digital-transformation-guide—what-is-it-and-the-4-main-areas Our world is becoming increasingly digital. From governments to education, industries across the board are consistently digitalising more and more, and those who don’t can find themselves lagging behind. Digital Transformation You may have heard the term ‘digital transformation’ in the past, whether in job titles or business presentations, but what exactly is it? …

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Successful Change Management – 20 tips and Tactics 

In Uncategorized by Roger Lewis

Full article with thanks to: change.walkme.com/successful-change-management What separates successful change management from unsuccessful change management? Driving organisational change is certainly not easy, which is why it’s so important to plan and execute change projects carefully. Below, we’ll cover 20 tips and techniques that can streamline change programs, increase the rate of success, and improve outcomes. Here are some of the …

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Change Management: When Saying Nothing is a Mistake

In Uncategorized by Roger Lewis

Full article with thanks to: blog.smarp.com/change-management-how-to-stop-misinformation-in-the-workplace Change management is hard as most people are not happy about leaving their comfort zones.  However, change is inevitable for businesses that want to improve and grow. When implementing change, the most important thing for success is an effective internal communication strategy that prevents misinformation in the workplace and prepares employees for the change.  So what …

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5 Change Management Models

In Uncategorized by Roger Lewis

Full article with thanks to: blog.smarp.com/5-change-management-models-to-take-a-look-at Your teams’ ability to adapt to change has a direct impact on your business’s bottom line.  Your teams’ ability to adapt to change has a direct impact on your business’s bottom line.  The thing is, there’s no unique way to embrace change. The change management program you are about to implement depends on your industry, the company’s culture, …

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Top Tips on Change Communication

In Uncategorized by Roger Lewis

Full article with thanks to: blog.smarp.com/change-communication-definition-and-best-practices Implementing the right change communication strategy is never an easy job. As most people resist change in the workplace, effective change… Implementing the right change communication strategy is never an easy job. As most people resist change in the workplace, effective change communications is the most important prerequisite for a successful organisational change.  The business …

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A Clear Purpose is Critical to Making Change That Lasts

In Uncategorized by Roger Lewis

Full article with thanks to: forbes.com/sites/davidmichels/2021/12/06/a-new-years-resolution-for-2022-deploying-your-skills-to-lead-through-change/?sh=3832db767049 “Change is no longer a project with a defined start and end. It is continuous, and accelerating … Being able to lead through change is no longer an optional skill.” I wrote those words in early 2019 in an article called “Change Is Changing.” That article focused on the ways traditional change management approaches …

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How to Manage a Crisis in 2022

In Uncategorized by Roger Lewis

Full article with thanks to: forbes.com/sites/edwardsegal/2021/12/13/8-ways-companies-could-change-how-they-manage-a-crisis-in-2022/?sh=3dbfd96651dd Taking a cue from Winston Churchill’s observation that, “Generals are always prepared to fight the last war,” business leaders should make a reality about their plans to prevent or manage a crisis at their company or organisation in the new year: Will they be prepared to respond to their next crisis—or their last one? How company executives answer …

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The Power Middle-managers’ Have to Navigate Change

In Uncategorized by Roger Lewis

Full article with thanks to: forbes.com/sites/forbescommunicationscouncil/2021/11/19/why-change-management-is-the-most-critical-leadership-skill/?sh=b0f6b8d3f220 Over the past 20 months, it’s become clear why change management is one of the most essential leadership skills. Knowing how to lead and manage through tumultuous and unexpected changes can make or break a company. While the pandemic was an unexpected event that affected everyone, knowing how to manage change is also about …

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How Boards Can Help Digital Transformations 

In Uncategorized by Roger Lewis

Full article with thanks to: mckinsey.com/business-functions/mckinsey-digital/our-insights/how-boards-can-help-digital-transformations Few board directors would dispute the importance of digital and how it’s fundamentally reshaping the competitive landscape in almost every sector. But many of those we speak to are uncertain about what their role should be in helping senior management drive the digital transformations that businesses need to execute in order to survive. In-depth …

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Why Digital Transformation in Insurance Does Not Have To Be Disruptive 

In Uncategorized by Roger Lewis

Full article with thanks to: isg-one.com/industries/insurance/articles/why-digital-transformation-in-insurance-does-not-have-to-be-disruptive Managers across industries see digital transformation as a major challenge that calls everything into question. They must 1) rethink and change their business model, 2) migrate from physical to digital channels, 3) buy and integrate startups, 4) understand new and emerging technologies, and 5) get rid of legacy systems immediately. This perception of a …

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How to Drive Change Management within the Insurance Industry

In Uncategorized by Roger Lewis

Full article with thanks to: neosllc.com/how-to-drive-change-management-within-the-insurance-industry For many insurance leaders looking to improve customer experience, launch new products, or implement new technology, there is an underlying theme behind each of these actions—change management. And change management is an activity weighing on leaders’ minds around the world. According to a 2019 LIMRA study that analysed the biggest challenges of C-suite life insurance executives …

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What Digital And Underwriting Changes Mean To The Insurance Industry

In Uncategorized by Connie Powell

So what does digital and underwriting changes mean to the insurance industry? We take a look at new technologies, marketing, ad campaigns and other tools. Full article with thanks to: forbes.com/sites/forbesfinancecouncil/2019/12/11/what-digital-and-underwriting-changes-mean-to-the-insurance-industry Digital transformation is disrupting the insurance industry, and the changes are creating both new demands and new opportunities. While quick online quotes may be the most readily evident transformation …

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Change Management Myths

In Uncategorized by Connie Powell

We’ve taken a look at the common change management myths to help you calibrate your change efforts and avoid common mistakes made during the change process. Full article with thanks to: forbes.com/sites/tracybrower/2020/02/14/want-to-manage-change-successfully-separate-these-5-myths-from-realities Change is constant and as a result, people, teams and organisations must build their skills in managing change and fostering flexibility. Given that today’s business context is in …

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Change Management Is Key to Guiding Your Business Towards A ‘New Normal’ In 2021

In Uncategorized by Roger Lewis

Guiding your business doesn’t have to be a challenge. Change management is the key to business development and success. Learn the hows and whys: Full article with thanks to: forbes.com/sites/johnnywarstrom/2021/02/08/change-management-is-key-to-guiding-your-business-towards-a-new-normal-in-2021 Nearly all businesses around the world have undergone an organisational change in one way or another during the last year. As nations begin to heal, talks of the “new normal” …

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Change Management: Why It’s Good to Challenge

In Uncategorized by Roger Lewis

Learn why it’s good to challenge your business and embrace change management before it’s too late. We take a look at the key attributes to navigating change. Full article with thanks to: thetransformationleadershub.com/why-for-success This article is the first in a series that discusses the key attributes to successfully navigating change and transformation from practical experience. The aim of the articles …

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5 Questions Boards Should Be Asking About Digital Transformation

In Uncategorized by Roger Lewis

Board members should consider digital transformation as an essential part of their current business model. Learn why digital transformation is valuable. Full article with thanks to: hbr.org/2021/06/5-questions-boards-should-be-asking-about-digital-transformation The CEO of a large retail company recently brought a $500 million digital-transformation-investment plan to his board. The board reviewed the proposal, but after asking a number of questions, they were unable to …

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How Good Is Your Company At Change Management?

In Uncategorized by Connie Powell

Have you considered how good is your company at change management? If you’re unsure what exactly change management is – see the benefits of applying it. Full article with thanks to: hbr.org/2021/07/how-good-is-your-company-at-change It was a month like no other that Delta Air Lines had ever experienced: March 2020. Travel bans and rising coronavirus fears sent bookings into negative territory—more customers were cancelling …

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Change Management: How to Eat The Change Elephant

In Uncategorized by Roger Lewis

Are you wondering how to implement change management? Learn how to overcome obstacles during change management with small changes over a period of time. Full article with thanks to: hbr.org/2021/05/break-down-change-management-into-small-steps Business transformation has traditionally been associated with large, drawn-out initiatives. After the Great Recession, they became smaller, faster, and more focused, yet change management was still executed in a mostly …

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The Evolution Of Digital Transformation

In Uncategorized by Roger Lewis

Learn the evolution of digital transformation to get a better idea of how to use digital transformation in your organisation. Change management is the solution. Full article with thanks to: forbes.com/sites/forbestechcouncil/2021/08/12/the-evolution-of-digital-transformation The urgency of marketplace competition has long been the driver for making digital transformation a priority for enterprise organisations both large and small, in basically every industry. In recent …

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Four Ways to Create Educational Stability During Times of Change

In Uncategorized by Roger Lewis

Are you wondering how to create educational stability in your organisation? Learn why a new strategic direction may be the answer for you. Full article with thanks to: forbes.com/sites/forbescommunicationscouncil/2021/07/20/four-ways-to-create-stability-during-organizational-change Cheryl is CMO of Promethean, an education technology company focused on transforming the way the world learns and collaborates. I recently changed my organisational structure from a long-standing, traditional marketing team focused …

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Change Management: The Importance of The Three Phases

In Uncategorized by Roger Lewis

We dive through the three phases of change management – action, movement and monument. Learn how these phases can drastically improve your organisation. Full article with thanks to: forbes.com/sites/forbescoachescouncil/2021/07/28/the-three-phases-of-change-management Creating any type of big change in an organization takes thoughtfulness, commitment, accountability and patience — though not as much as you might think! It’s often assumed that change takes immense …

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Pandemic Accentuates Two Problems With Change Management: One Is Change, The Other Is Management

In Uncategorized by Roger Lewis

Learn what problems have occurred with change management during the Covid-19 Pandemic and how your organisation can tackle them going forward. Full article with thanks to: forbes.com/sites/grantfreeland/2020/06/29/pandemic-accentuates-two-problems-with-change-management-one-is-change-the-other-is-management With the global pandemic forcing most institutions and individuals to change much of what they do, and how they do it, I’m reluctant to state the obvious: Things haven’t always gone well. But …

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Change Management: 10 Tips for Effective Change

In Uncategorized by Roger Lewis

Want your organisation to implement effective change? Whether it’s for market advantage, silo mentality, cultural change or something else – take control now. Full article with thanks to: forbes.com/sites/janesparrow/2021/05/07/ten-tips-for-effective-change-management-that-puts-your-team-first More so than ever right now, teams are working in a fully remote or hybrid way. This means it’s more important than ever to have effective change management strategies in place, …

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How Breaking Down Silos in the Insurance Sector Creates Market Advantage

In Uncategorized by Roger Lewis

Learn how changing an organisation’s culture and silo mentality can nurture market advantage and improve the overall cultural change in your organisation. Full article with thanks to: information-age.com/digital-transformation-in-the-insurance-sector-cultural-and-organisational-123494851 Changing an organisation’s culture takes more than simply communicating a directive. Some insurance providers have been around for almost 200 years — over which time their culture, and organisational structure have grown …

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Digital Transformation: Don’t Forget About The Customer!

In Uncategorized by Roger Lewis

A bit part of digital transformation is considering the customer. It involves a technology toolkit that’s made up of data analytics, insurance software and APIs. Full article with thanks to: insurancebusinessmag.com/us/news/technology/digital-transformation-must-happen-across-entire-insurance-ecosystem-226451.aspx The global COVID-19 pandemic has placed insurance technology under the spotlight. It has weeded out the digital front-runners from the digital dawdlers and has highlighted the importance of innovation …

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Why Must Insurance Claims Handling Go Digital?

In Uncategorized by Roger Lewis

We take a look at why insurance claims handling should go digital. We recommend that someone in your organisation is driving the need for digitalisation. Full article with thanks to: hbr.org/sponsored/2021/06/video-quick-take-crawford-co-s-rohit-verma-on-why-digital-transformation-needs-to-happen-in-the-insurance-industry Julie Devoll, HBRWelcome to the HBR Video Quick Take. I’m Julie Devoll, editor for special projects and webinars at HBR. In this episode, we’re joined by Rohit Verma, CEO …

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Portfolio underwriting managers – who are they? – what do they crave for?

In Uncategorized by Natalie Sieberichs

Author: Roger Lewis, FUSE Consultancy                                                           Date: 13th July 2021 Introduction In insurance circles where things change slowly, when a new skill set arrives on the block, it is worthy of investigation.  So, who are ‘Portfolio Underwriting Managers’?  What do they do? Why is this new role becoming increasingly popular at insurance companies? And what is it they crave for?  …