FutureProof : More Human, More Digital
Companies in the future will require very different strategic capabilities to win in the rapidly changing world economy. Multiple forces — many related to workforce trends — are causing disruption. Five generations will be working simultaneously, from baby boomers through Generation Z. By 2025, millennials will dominate, making up 75% of the workforce. Each generation has vastly different expectations for work, with younger generations voicing a preference for a flexible and customizable work environment. The career model as we know it is in disruption. This is further compounded by the fact that the life and annuity insurance industry finds itself at an inflection point and faced with an inevitable choice: “disrupt or be disrupted”. The convergence of consumer, technological, regulatory, and other market forces are reshaping market dynamics and creating new competitors and opportunities in the industry.
There have been remarkable advances in robotics and artificial intelligence. Robots can now perform backflips and ride bicycles, and machines empowered by artificial intelligence (AI) are able to analyze X-ray images better than expert radiologists. The insurance industry is also investing in these new areas, however, to truly exploit these investments, companies need highly skilled people and teams with hybrid skills. Acquiring and training talent for complex and hybrid skills is hard enough at an individual level, but multiplied across an organization the difficulty rises exponentially.
This explains the great focus by senior executives and boards today on the ability of companies to attract, train and retain the best talent. The quality of existing employees, of training and reskilling programs, and of millennial friendly work environments, therefore, become a critical asset for future success. Leaders must ask themselves and their teams, “Are we preparing our organization rapidly enough and in the right ways to thrive in the future?”. To explore this topic and much more, please join us in Philadelphia as we invite some of the brightest minds in this space today to delve into these topics with us at the 2019 Partnership Forum.
Create new business models and products for breakthrough competitive advantage
Harness digital technologies to provide new experiences and capture new growth opportunities
Create an open collaborative culture that supports change and increases adaptability