Navigating the unknown next – 4 STEPS TO building a future-proof operating model for the insurer

The business strategy sets the direction and targets of the company, but the operating environment change constantly

To succeed, insurers must have an operational model with adequate flexibility and agility to follow the market fluctuations

A new target operating model based on a set of design principles necessitated by the pandemic must be designed for the insurer

It’s time to outsource all non-core activities

Crafting the strategy for a successful future for the insurer is one thing, creating an operating model that is capable of delivering the strategy is another

Even the greatest strategy will just remain as a document if it is not put into action – and this can only be done by the organization through a dedicated and reinvented target operating model

Executing on a strategy requires an organization, systems and processes designed with the strategic purpose in mind, a target operating model