The insurance industry is being disrupted by new technologies and new competitors. This should be a time for innovative thinking in response to those threats, but that’s a challenge for many insurers. The talent pools, competencies and ideas in their organizations often look much the same now as they did when today’s C-level leaders entered the workforce. Future success requires solutions that appeal to the needs of a changing customer base. This is easier with a broad mix of backgrounds, ideas and experiences—starting with the C-suite. Learn how the insurance c-suite can refresh talent strategies, create new ways of working and reshape culture to unlock innovation at www.accenture.com/InsuranceMakeover.

1. Copyright © 2017 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.

2. Copyright © 2017 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
The insurance industry is being disrupted by new
technologies and new competitors. This should be a
time for innovative thinking in response to these
threats, but that’s a challenge for many insurers.
INSURERS
ARE STUCK
IN NEUTRAL

3. Copyright © 2017 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
Customers are comparing their interactions and experiences not just with
other insurers, but every kind of company with which they do business.
Insurers are struggling to adapt.
INSURANCE
CUSTOMERS ARE
SPEEDING AHEAD
• 96% of insurers indicate that a personalized customer experience is one of
their top-five organizational priorities.
• Yet, 71% report that, despite an increase in the amount of customer data and
insights available, their organizations struggle to fully understand customers’
needs and goals.

4. Copyright © 2017 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
A LOOK IN
THE MIRROR
In part, this is because the talent pools,
competencies and ideas in their organizations
often look much the same now as they did
when today’s C-level leaders entered the
workforce.
That is not a formula for growth.

5. Copyright © 2017 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
OVERCOMING OBSTACLES
TO GROWTH
Accenture Strategy believes that a path to stronger innovation and growth starts
with the C-suite.
• The C-suite remains stubbornly homogeneous. The expectations of
insurance customers are changing rapidly and insurers need to
adapt. But it’s hard to develop new, personalized experiences for
customers when decision makers don’t identify with an increasingly
broad and diverse costumer demographic.
• Time for change. Until recently, insurers risk-averse culture had
served them well. But weighed down by historical processes, lack of
knowledge about customers’ desires and a shortage of skills needed
for future success, many insurers are slow to respond to rising
customer expectations.
• A closer look at innovation. Accenture research found that 80% of
insurance executives say their company must innovate at a rapid
pace to maintain a competitive edge. Yet many executives don’t
appreciate that getting innovation past the day-to-day bureaucracy
of an organization can be an uphill battle.

6. Copyright © 2017 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
GETTING SERIOUS ABOUT
INNOVATION — AND GROWTH
Leading insurers are taking practical steps to infuse diverse ideas and skills
throughout their organizations:
Build a diverse leadership team. Create an executive team
with diverse backgrounds and experiences and review the
composition of the board, too.
Look through the lens of customer experience. Challenge
current processes by looking through the lens of customer
experience and value creation.
1
2

7. Copyright © 2017 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
GETTING SERIOUS ABOUT
INNOVATION — AND GROWTH
Leading insurers are taking practical steps to infuse diverse ideas and skills
throughout their organizations:
Make innovation core to the enterprise. Foster an
innovative culture with events, processes and actions
designed to attract and reinforce diverse thinking.
Remove the hurdles to progress. Empower the workforce to
learn new skills and adapt so people can embrace
innovation and not fear it.
3
4
GETTING SERIOUS ABOUT
INNOVATION — AND GROWTH

8. Copyright © 2017 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
Learn more about making a commitment to a diversity of ideas,
experiences and capabilities with our full report:
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THE INSURANCE C-SUITE
NEEDS A MAKEOVER
JOIN THE
CONVERSATION: