In 2012, a leading South African Insurer partnered with CatalytIQ to drive a programme that would transform the Operating Model of one of its core businesses.
CatalytIQ drove a business transformation structured over 3 years that was centered on positioning the business for growth by optimizing operations, developing a fundamentally new product suite and service model and realigning the culture and organizational design to support the new model.
- Working in the capacity of programme management, with direct access to top executives and operational leadership from across the business value chain – the team supported the business leadership team in crystallizing the future state vision through rigorous blueprinting and visualization.
- Ensure broad stakeholder alignment ito intent, vision and business benefit.
- Manage key stakeholders across the organisation from the Board level down to ensure buy-in, support and continued traction.
TOOLS & TECHNIQUES
- Build a detailed benefits model that surfaced the link between target benefits and what needed to change within the business to effect that change. Direct links to the projects within the programme that would directly/indirectly effect the change were made with clear links ito timing and materiality.
- Create clear execution plans in support of the above stated vision and drive focused execution against them.
- Create a capability for scanning and integration that would allow us to adapt our approach as things emerged during the course of the transformation.
- Use rigorous benefits tracking to keep us honest in terms of tactical decisions along the way and as a mechanism to quantify the impact of such decisions to the Steering committee.
- Develop many frameworks and responses to describe propositions, target business blueprint.
- Develop MI framework and drive delivery of operational and executive MI that would transform the business.
- Set up a cross functional team and work across Business Units to manage the decision making.
- Immerse into the organisation and work as part of the team.
- Remain technology supplier agnostic, but clear on the technical building blocks required to be successful.
- Keep the leadership team honest and focused on the goal through the tough times and be there every step of the way to support the team.
- The transformation was successfully concluded at the end of 2015 with a few initiatives being continued through BAU. Benefits were successfully delivered and significant contributions have been made to the business ito new capabilities, skills and perspectives on how to run this new business successfully.