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Strategic Business Transformation & BA Role in Design Thinking

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One of the key responsibility of a BA is to be prepared for the ever changing business requirement. This case study highlights how the team of BAs have facilitated a leading ‘life’ insurer transform their business. From ideation phase to documenting requirements; from customizing wellness tools to assistance in creating wellness programs, BA team has worked alongside customers to rebrand themselves. This project execution showcases how important the role of Business Analyst is in design thinking

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Strategic Business Transformation & BA Role in Design Thinking

  1. 1. © 2016 BA Convention And Role of BA in Design Thinking Strategic Business Transformation
  2. 2. © 2016 BA Convention 2 Click to edit Master text styles Click to edit header Industry Verticals About L&T Infotech Ltd  ‘Business-to-IT Connect’ Model  Widely respected corporation  Deep global relationships  High corporate governance standards 10 258 FY2016 $887+Mn Active clients 49 Fortune 500 clients 20,000+Employees 22 Delivery centers globally, with 44 sales offices L&T Infotech, part of USD 15 billion L&T Group, is the 6th largest Indian IT Services Company
  3. 3. © 2016 BA Convention 3 Click to edit Master text styles Click to edit header Context  Design is everywhere  Design is making things that people want  Design Thinking is thinking out of box  Design Thinking is doing things so businesses are beneficial  Design Thinking is more creative than you think
  4. 4. © 2016 BA Convention 4 Click to edit Master text styles Click to edit header Project Background Customer Profile  Customer Is One Of The Oldest Life Insurance Companies In South East Asia  Market Leader With A Revenue Of Over $ 6 Billion Business Challenges  Significant Underinsured Young Population  Silver Tsunami - Greying Consumer Base Mandates Preventive Interventions  Unpredictable Losses & Targets To Increase Investment Portfolio  Revenue & Margin Pressures
  5. 5. © 2016 BA Convention 5 Click to edit Master text styles Click to edit header Defining Business Objectives – The Big Picture  Redefine their Customer Engagement thorough Omni Channel experience  Transform into Customer-centric Service Model  Rebrand Market Image  Establish Digital Leadership “Customer-driven, unified experience across multiple touch-points”
  6. 6. © 2016 BA Convention 6 Click to edit Master text styles Click to edit header Business Transformation Journey From Life Insurance to a Life Company 1 We Started Here 2 3  Market Research  Future Trend Analysis  Customizing HRA  Tools & Calculators Ideate & Prototype Empathize & Synthesize Test & Corroborate  Loyalty & Wellness Portal & App  Programs tied to Premium Discounts  Continuous Engagement with health workshops & social media  Loyalty Cards, Merchant Discounts & Reward Programs  Data for Better Underwriting  Empirical Data for New ProductsAs-Is  Traditional Business Model  Customer Engagement mostly during renewals & claims  Risk Underwriting based on limited data  No defined Loyalty Programs  Lifestyle Assessment Suite  Intention based programs/ 21 Day App
  7. 7. © 2016 BA Convention 7 Click to edit Master text styles Click to edit header Solution Model Transforming Preventing Engaging  Created 360 degree view of customer  Multiple touchpoints for customers engagement  Extensive use of Social Media Platforms  Dynamic UX experience  Lifestyle Risk Assessment suite on 24 parameters  Intention based health programs  Wellness tools & calculators  Health Articles personalized to health goals and needs  Health promotions & discounts through health partners  Better Risk Evaluation  Better Underwriting Decisions  Get Closer to the Customer  Rebranding as a Life Company
  8. 8. © 2016 BA Convention 8 Click to edit Master text styles Click to edit header Business Outcomes  Deeper Consumer Engagement – 2 million user participation in Wellness drive  Customer Empowerment – 3 million users within first year  Intrinsic Return on Wellness  Substantial Data – Lead Generation & Product Design  Brand Recall – 13% increase
  9. 9. © 2016 BA Convention 9 Click to edit Master text styles Click to edit header Role of a BA - Sampler Collate Research Findings Collate Geographical Requirements Create Content Create Algorithms Verify and Authenticate with Experts Create Wireframes Stakeholder Walkthrough UI & Branding
  10. 10. © 2016 BA Convention 10 Click to edit Master text styles Click to edit header BA = Design Thinker  Anchored Innovation − Intention based approach and related tools − Lifestyle Risk Assessment suite with 24 health parameters − Wellness tools & calculators address custom algorithms that address local demographics − Extensive use of Social Media Platforms  Drove Differentiation − Multiple touchpoints for customers engagement − Better Underwriting Decision  Increased Customer Satisfaction
  11. 11. © 2016 BA Convention 11 Click to edit Master text styles Click to edit header Skills That Worked Analytical Champion of Change Conflict Management Critical Thinking Being Assertive Cultural Awareness Winning Attitude
  12. 12. © 2016 BA Convention 12 Click to edit Master text styles Click to edit header What should you remember?  Design is less thinking and more about action  Design thinking is a user-centered approach to problem solving.  It is helpful to identify wicked problems  It is a step by step process over multiple iterations. Understand-Create-Learn cycle  It helps BAs to evolve – from Product Owner to Program Owner
  13. 13. © 2016 BA Convention Learn more. www.baconvention.com Thank You! Aparna Kondapalli – Sr. Business Consultant Akansha Jain – Sr. Business Analyst

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