By Hugh Terry, The Digital Insurer
The future of insurance is here – and it is digital. Digital is transforming our personal lives and starting to transform our professional lives in insurance. Whilst insurance has been a bit slow to adapt, change is now fully afoot, and digital has gone from being seen as a minority distribution channel in Asia to the number 1 strategic threat and opportunity for most CEOs. These are exciting times!
Knowledge on digital insurance is needed by many – not just the few.
Digital is the 4th industrial revolution, and we are in the early stages of a significant period of irreversible change. As the pace is getting quicker and as momentum builds, the need for awareness, understanding and knowledge is quickly moving from the few (digital specialists) to the many (business managers & leaders).
Technology is presenting an opportunity for change at different levels – from “Improving Today” (Value Chain Innovations) to “Reinventing Tomorrow” (New Digital Business Models). Consequently, the insurance industry needs to support insurance professionals in a digital world – all leaders and managers need to be equipped to participate in technology-enabled change – a common set of core skills plus some deeper skills are required by all.
However, with a plethora of new technologies and buzzwords, most insurance professionals know they lack a basic understanding of these new technologies, let alone their business application potential.
TDI Business school takes a business approach that is inclusive and covers both specialist and business teams
Existing offerings just don’t make the grade
At The Digital Insurer, we recognised the demand from our corporate members for a new approach to learning on digital insurance. The feedback we got included:
– Existing training solutions are not up to the job
a. Content is un-dynamic and often out-of-date
b. Deployment mechanisms are largely out-of-touch with how people like to consume knowledge these days
– Tech-focused Learning & Development (L&D) solutions are typically
a. Sector agnostic i.e. missing insurance sector nuances
b. Tech-led rather than starting from the premise that it is user and business application of tech-enablers which is the key to realising business value
– There are few courses designed to bring both tech and business employees together so they can learn from each other
– Internally, insurers struggle to meet the growing development needs of employees
– Individuals increasingly like things that are transferrable, and for insurers, supplementing internal L&D with external input strengthens the brand & employee proposition by reinforcing signs of an open,
innovative and collaborative culture
– There is a void in the area of digital technology learning and development for the insurance sector that is business minded.
– The industry needs help – the pace of new technology development is out-stripping the ability of individuals and companies to keep up. The requirement is not for one-time education, but rather on-going
So we responded to our corporate members and designed a brand new programme!