Bay Area Digital Executive Dinner Series 

Register for the event by completing the form below.

Farallon | 450 Post Street | San Francisco, CA 94102
Wednesday, May 1 at 6pm PT

ISG Partner, Prashant Kelker will present
Implementing & Tracking a Digital Operating Model

TOPIC:  Implementing & Managing New Digital Operating Models

WHY ATTEND:  This session will focus on understanding what others are doing to establish and govern digital operating models in the new world.  We will be speaking to the challenges they face, and how some companies have overcome these challenges – the key topics we will address are:

• How should the organization structure adapt/change to address new digital models, and how have the leading companies executed change management?

• How will the design and execution of technology transformation programs inform and build its required target business capabilities iteratively using an evolving provider ecosystem?

• How do you ensure a solid digital backbone and operating model is established and maintained to scale and ensure quality in your transformation programs?

• How do you harness emerging technologies and bring them to mass scale usage within your enterprise (automation, analytics, ML, cloud, blockchain, etc.)

AGENDA:

  • 6pm PT Networking/Happy Hour:  45 minutes
  • 7pm PT Dinner:
  • Appetizer:  Implementing & Tracking a Digital Operating Mode
    Presented by Prashant Kelker, ISG Partner - Digital Strategy & Solutions
  • Dinner:  Open Q&A
  • Dessert:  Future Topics & Networking

This is a great opportunity to network and learn from peers. Feel free to bring a colleague!

Upcoming dinners:

Date TBD - Palo Alto: Blockchain Reality & Impact

Date TBD - San Francisco: The Automation Journey Conundrum

Outsourcing Observations on Insurance

Having just completed a detailed review of outsourcing activity in 26 different vertical industry groups, I want to share some interesting findings from my research. The Insurance vertical sector has been hard hit by the economic issues of the last year, so I will share my observations on this industry segment first.

A quick look at the companies in the Forbes® Global 2000 reveals that there are more than 100 companies in the Insurance vertical sector, of which just less than half have an active outsourcing contract with a total contract value (TCV) of $25 million or more, according to TPI Research. As a group, these companies have increased their spending on outsourcing in each of the last 13 years, reaching an all time high of nearly $5 billion in annualized contract value in 2008. Compared to other industry groups, however, the typical insurance company spends about $10 million less per year than the overall market average, indicating that this vertical may be well-positioned for increased spending in the future.

Companies in this vertical sector have been somewhat slow to the BPO party, though TPI has recently observed increased attention being given to processes that can be offshored due to board pressure to reduce costs. Companies are also considering onshore options; especially those have taken TARP funding. This shift may benefit the US-based multinational service providers, who can market their US-based delivery centers.

To sum up, the Insurance vertical sector is a large market that already spends significant dollars on outsourcing. TPI sees opportunities for increased spending among companies that already source and expects more Insurance companies to adopt outsourcing during 2009, especially those positioned in the mid-market.

I’d be very interested to hear your thoughts on outsourcing in the Insurance vertical sector.

Source: TPI Momentum Q109 Vertical Industries Report
About the author

Paul Reynolds leads Momentum, a division of ISG that provides research services to help service providers better target, win and retain business. Paul has 25 years of market research experience with specific expertise in methodology development, data analytics and research process design. Having found many service providers’ Advisor Relations functions to lack appropriate analytics, Paul is working to develop innovative new approaches that allow for data-driven programs based on the unique needs of each client. His approach benefits Advisor Relations, go-to-market functions, sales, strategy, marketing, and market/competitive intelligence teams.