Our latest Global CEO Survey revealed that insurance is the second most disrupted sector in the global economy, behind only entertainment & media. The disruption reflects the speed with which the social, technological, environmental, economic and political (STEEP) changes we've been anticipating are becoming a reality within the insurance industry.
Culture is the key to realising an organisation's potential. Indeed, a more agile, innovative, risk-conscious and customer-centric culture is set to be the primary competitive differentiator in the new landscape. In 2013, we issued 'Insurance 2020: Unleashing the value from values' which discussed how culture can be your greatest ally or your biggest enemy. Disruption has accelerated dramatically since then. As we've helped clients address new challenges, our approach to defining and changing culture has evolved. This paper reflects our latest thinking on how culture can unlock the value from values.