INSITUM + MAPFRE
Boosting the innovation culture in an insurance company.
One of the largest insurance companies at a global scale – also leader in car and life insurance- implemented a process-based management system in order to standardize their service and become more efficient. However, this translated into a reduction in the number of initiatives and innovation projects. Aiming to resist this effect, the company called INSITUM to carry out an innovation diagnosis and implement an “open innovation” methodology that would allow detecting opportunities, capturing ideas and executing innovation projects focused on all of the company’s areas and operational processes.
We carried out a qualitative research (sessions and interviews) and quantitative research (online survey) to understand the issues around this innovation management; and hence, determine where innovation is currently standing in the operational processes and areas affecting the 2000+ employees of this company.
“This project has truly been a milestone in our industry. It has given us the opportunity to see what we are doing wrong, and what we must do to become more innovative and costumer-focused.”
Based on this information, we detected low, medium and high priority areas of opportunity (innovation landscapes) for the different operational areas, and designed innovation challenges based on which employees could develop solutions. This strategy was shared in a top management workshop to get buy-in from different areas.
This strategy was implemented through an open innovation platform adapted to the innovation landscapes and innovation challenges. The platform was open to get the employees, agents, promoters, and other stakeholders in the environment involved in the generation, selection and development of solutions.
We trained an internal team on this innovation methodology so as to maintain the platform and manage ideas.
The company had a 300% increase in the number of initiatives (i.e. continuous improvement projects, new producs, services). The initiative had such an impact that it was taken to corporative level and it is currently being assessed for its reproduction in several countries. What is more, it contributed to the creation of a “customer experience-based” culture, which, in turn, led to the redesigning of certain operational processes and services that have translated into higher customer satisfaction and loyalty.