Reinsurance Blockchain Platform Proposition Development and Launch
The Situation
A new business proposition and new market is formed and it required new and expensive workforce for operations. The group CXOs are also responsible to provide for the new business.
The Task
I was asked to help automate a part of the operations – contract management with Blockchain, in my role of Head of Emerging Technologies. This would reduce the head count required as well as pioneering a revenue stream to the new business.
The Action / Approach
- Product – identity, agree and proritise the solution and the product and a feasible roadmap
- Proposition – built a proposition and business case to generate cost avoidane and reduction as well as Revenue generation
- Comms – manage external and internal stakeholder cross-business collaboration, communication and buy in
- Compliance – make sure regulatory and compliance in place
- Launch – Development and engineering iteratively
- Hiring
- Upskilling and Education of the organisation and units identifying weaknesses and capability gaps to better plan for structured, feasible improvement
The Result
We launched a blockchain platform where I lead and handover to business units.
- Enabled competitive differentiation and increasing market share
- Improved business agility and ability to rapidly respond to change and opportunity
- More consistent and sustainable profitability and business growth
- Raise the profile of the new business and the group as an innovator.https://www.forbes.com/sites/amazonwebservices/2019/12/12/managing-pension-risk-with-amazon-managed-blockchain/?sh=31a514535fd2
Focus In On: Responsible for Innovation
New Areas of Value:
Enabling competitive differentiation and increasing market share
Increase customer acquisition, advocacy and lifetime value
Improved business agility and ability to rapidly respond to change and opportunity
Increased credibility, confidence and influence across the business
Gain access to additional budget through success
More consistent and sustainable profitability and business growth
Effective delivery against financial targets
Successful, timely delivery of evidence based transformative change
Improvements around:
Inefficient or misaligned operating model and lack of business agility
Lack of appropriate capabilities, skills, tools and methods
Lack of exec sponsorship and track record
Budget availability and changes due to external change drivers
Unclear business strategy and requirements
