Ομιλία - Παρουσίαση: Βασίλειος Τουλιάς, Operational Excellence & Customer service Director, Head of Transformation, ΑΧΑ Ασφαλιστική «3 δρόμοι για τον Ψηφιακό μετασχηματισμό της Ασφάλισης»

1. 3 ROUTES FOR
DIGITAL INSURANCE
TRANSFORMATION
4th Digital Finance Forum 27/04/2017
Vassilis Toulias
Operational Excellence & Customer/Distributor Service Director
Head of Transformation
vassilios.toulias@axa.gr

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3. Strategic direction of AXA Group is
“Focus & Transform”
Organizational structure reflects
commitment to Digital Transformation
AXA Greece: 8th consecutive year of Transformation
Transformation for AXA
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16dedicated resources
146involved internals
2009Transformation launched in GR
3rdTransformation cycle

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5. Go from Paper to PDF / Online
Main benefit
 Minimize the need to print & dispatch
 Contain costs to support profitability
& competitiveness
What is needed
 A document repository
 A portal
 The digital contact info of your customers
 Their consent to convert them to Digital
- From the customer and the distributor
Digital Insurance Level 1 - PAPERLESS
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- Relatively fast & cheap
- Minimal innovation needed
Level 1
Effort 
Benefit for Company 
Benefit for Customer 
Benefit for Distributor 
- Tough sell for customers & distributors
- Not digital-native
- Not future-proof
ADVANTAGES CHALLENGES

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7. Augmenting insurance processes
with digital-native capabilities
Main benefit
 Simplified, automated processes
 Better customer centricity,
strengthening relationship
What is needed
 Ideas that deliver customer value
 Change management on distr. networks
 Strong sponsorship, swift execution,
proper prioritization
Digital Insurance Level 2 – DIGITAL SALES & SERVICING CAPABILITIES
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- The only way to boost digital
adoption past a threshold
- Widens access to data
Level 2
Effort 
Benefit for Company 
Benefit for Customer 
Benefit for Distributor 
- Few value propositions are strong enough
- Desynched processes across Products
- Risk to destroy value (tech for sake of tech)
ADVANTAGES CHALLENGES

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9. Reimagine insurance with
Digital at the center
Main benefit
 Drop the baggage, redesign from scratch
 Address customer needs, not pay a bill
What is needed
 Strategic vision. You’ll only have one shot
 Start-up mentality and funds to support it
 Innovative, bright profiles to
redesign Insurance
 Shift from Line-of-Business centric to
Customer-centric
Digital Insurance Level 3 – DIGITAL INSURANCE REIMAGINED
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- Very disruptive if done right
- Superior customer value can
decommoditize insurance offering
Level 3
Effort 
Benefit for Company 
Benefit for Customer 
Benefit for Distributor 
- Multinationals have an advantage due to easy
access to funds, assets & global innovation
- Talented profiles with proper mix of Business
& IT are truly rare
ADVANTAGES CHALLENGES

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11. Local perspectives on Insurance
 Proper mix & complementarity between L1-L3 strategies
 Pause & think before “build or buy” decisions
 Proper governance & execution discipline
- PMO Office, Program management, focus on Benefits
 Critical mass needed to achieve economies of scale is not a given in
the small & non-consolidated Greek insurance market
 Integrate flexibility in strategic direction & decision-making
 Change management is an integral part of the Transformation
- For internal employees, for customers, for the distribution network
Global perspectives on Insurance
Digital Insurance – Local & Global Perspectives
Best practices & words of caution on the road to Digital Insurance Transformation
Confidentiality more important than contract certainty
Mutual insurance / captive insurance, with a digital twist
Partner networks, funding & regulation as barriers to expand
Continuously increasing its already wide control of customer data.
Most likely to sell it to the highest bidder, instead of becoming an insurer
Blockchain
Peer-to-Peer insurance
Insurtech startups
Google

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