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Traditionally viewed as rock-solid and steady, the insurance industry is not exactly associated with taking big risks. With digital technologies clearly established as the central plank of business operations, efforts to reorganize, rebrand, and remodel IT are kicking into high gear.
Recommended Approach : Strategic cohesion is vital to ensure initiatives are supported by extremely clear goals and KPIs, and ultimately deliver business value and better health outcomes. A rigorous yet practical businesstransformation mindset has therefore never been more important. Cost containment will require compromises.
It’s a holistic, iterative process rooted in value creation and supported by changemanagement. Discover why we have been trusted by the 10 largest health systems and the 10 largest health insurers in the U.S., and Modern Healthcare consistently recognizes us as one of the largest healthcare consulting firms.
“Increasingly in our technology-driven world and business landscape, it makes sense to have a leader who’s a technologist by trade.” While CIOs have stepped up and delivered digital strategies for businesstransformation, using those successes as a platform to move into a CEO position could throw a curveball.
“What I’ve always tried to do is go where the energy and value is, and find the one or two willing partners in the business who want to start something and make it big,” says Christopher Paquette, chief digital transformation officer at Allstate Insurance. But that could change. “I And that’s just the start.
And when performed strategically in succession as Mahon has done at Werner, such quick wins can lead to much larger businesstransformation over time — with less big-bang disruption and changemanagement thanks to measurable proof of enhancement along the way.
This multinational financial services company sought to increase procurement efficiency in general, and in particular to improve purchasing compliance in its global insurancebusiness. Read other blogs in this series – Procurement – the challenges and its changing role. Procurement – going frictionless .
The ongoing delays and costs appear not to have pleased Invacare’s board, which two weeks later nudged Monaghan out saying the company needed “a change in leadership to oversee the successful execution of Invacare’s businesstransformation.” By March 2019, things were slipping.
All to ensure timely delivery, quality performance, and risk management; Finance is another sphere that relies on PM practices. Insurance services require remote project managers for high-stakes projects that involve a significant number of risks. It is all about boosting productivity and minimizing the resources wasted.
Recommended Approach : Strategic cohesion is vital to ensure initiatives are supported by extremely clear goals and KPIs, and ultimately deliver business value and better health outcomes. A rigorous yet practical businesstransformation mindset has therefore never been more important. Cost containment will require compromises.
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