Design of innovation strategy & innovation process map.

$60B Global Insurance & Wealth Management Firm

Client story

Delivery summary

Developed an Innovation Strategy for exponential growth in a disruptive landscape while having a clear process for bringing in innovative products, platforms and services to market at scale with speed.

Key activities

01

The Challenge

Focusing on growth in developed markets .

Previous strategy focused on emerging market growth, but yielded lacklustre results. Client’s new strategy focused growth in developed markets, where competition was fierce but under threat of disruption by new Fintech entrants.

The client envisioned a bespoke VC fund as a means of innovation ideationTo bring this concept to life the client needed help in designing the operating model and selecting a VC partner. Additionally, the client recognised the need to have a process by which to take innovative product, service and platform concepts to market. The innovation strategy and process would allow the client to clearly identify a path to market either within existing technical competencies and business model or where new competencies or business models would be required.

02

The Solution

Gathering insights to establish opportunities.

Researched, analysed, shortlisted and supported the negotiation of a VC partner for a bespoke innovation fund.

Leveraged our Digital Engagement Platform to rapidly gather insights globally from within the organisation to understand current culture and ways of working.

Developed an innovation strategy roadmap aligned to the client’s business strategy and with clear mapping to existing or potentially new technical competencies and business models.

Designed an innovation process and mapped requisite behaviours to support the processes for optimal value creation.

03

The Result

New products successfully launched.

Established an innovation business unit headed by a ‘Chief Exponential Officer‘ unencumbered by BAU pressures to enable accelerated identification of innovative products, services and platforms.

Client launched two new products initiated from the internal innovation process and executed one acquisition from the investment portfolio.

What they said...

They delivered one of the best consulting engagements I’ve experienced and did it within the incredibly tight timeline the board gave me to work within.

Head of Innovation / Chief Exponential Officer

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