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Agile transformation in the European insurance sector

Chris Parsons by Chris Parsons

Agile transformation in the European insurance sector

Increasingly competitive market conditions, more discerning customers, and rapidly changing technological requirements were already putting many companies under pressure. Then Covid-19 came along and shook the world to its core, putting many more companies either out of business or facing an uncertain future.

This has focused more attention on agile ways of working, which among its several claimed benefits is the ability to adapt more readily to changing circumstances either manmade or natural.

This paper looks at agile ways of working in the context of the European insurance sector. Several executives from leading insurance companies from France, Germany, Italy, Sweden and the UK were interviewed by consultants from The Transformation Alliance and kindly shared their thoughts and experiences resulting from the agile transformations that their companies are undergoing. After discussing some of the benefits of organizational agility, the text then covers how it affects company strategy, culture, technology, and ways of working.

At each stage, the invaluable insights given by the interviewees shows how the theory of agile is matched by the reality of agile.

The unanimous conclusion is that an agile transformation is challenging but worth pursuing.

However, it is not a journey that has to be tackled alone, as some of the interviewees pointed out. Outside help is available and can help to smooth the process. For this reason, we at The Transformation Alliance have summarized our approach to helping clients switch to agile ways of working.

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