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STRATEGIES FOR SUCCESSFUL
LONG-TERM PARTNERSHIPS
By
Peggy Klingel
THE ROLE OF
PARTNERSHIPS
2
❖ Expand business strategy
❖ Create competitive advantage
❖ Accelerate innovation
IBM, Yohann Michaux: Four ways insurance companies are improving their customer experience, May 18, 2021
The Race is
Underway to
Reinvent Customer
Experience
❖ Customer-shared data
❖ AI infused through the
customer journey
❖ Technology embedded into
intelligent workflows
❖ An omnichannel approach
3
4
Not Everything Can be Built
❖ Expertise and innovation capability
❖ Core vs. non-core methods & technologies
❖ Communicating partnership advantages
The question isn’t can we build it, but should we build it?
GOOD
RELATIONSHIPS ARE
BASED ON TRUST
5
Build relationships at multiple levels
Grow the partnership over time
Maintain Open Communication
6
Good communication and joint goals build trust.
Have the Hard Discussions Early
Can we
build on our
cultures?
How do we
work
together?
Are we
aligned on
goals?
7
Is the team ready?
Communicate the plan
Overcome the doubters
Can we execute?
Simplify processes
Move faster
Are we aligned on goals?
Agree on the vision
Measure progress
Assess Company Readiness to Partner
Where do we draw the line
between potential partner
and competition?
8
What happens when the partner is a competitor?
What’s the next best alternative?
What proprietary information should we protect?
How do we structure the relationship?
Thank You!
Peggy.Klingel@Allstate.com

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Strategies for Long Term Partnerships.pdf

  • 1. STRATEGIES FOR SUCCESSFUL LONG-TERM PARTNERSHIPS By Peggy Klingel
  • 2. THE ROLE OF PARTNERSHIPS 2 ❖ Expand business strategy ❖ Create competitive advantage ❖ Accelerate innovation
  • 3. IBM, Yohann Michaux: Four ways insurance companies are improving their customer experience, May 18, 2021 The Race is Underway to Reinvent Customer Experience ❖ Customer-shared data ❖ AI infused through the customer journey ❖ Technology embedded into intelligent workflows ❖ An omnichannel approach 3
  • 4. 4 Not Everything Can be Built ❖ Expertise and innovation capability ❖ Core vs. non-core methods & technologies ❖ Communicating partnership advantages The question isn’t can we build it, but should we build it?
  • 5. GOOD RELATIONSHIPS ARE BASED ON TRUST 5 Build relationships at multiple levels Grow the partnership over time
  • 6. Maintain Open Communication 6 Good communication and joint goals build trust. Have the Hard Discussions Early Can we build on our cultures? How do we work together? Are we aligned on goals?
  • 7. 7 Is the team ready? Communicate the plan Overcome the doubters Can we execute? Simplify processes Move faster Are we aligned on goals? Agree on the vision Measure progress Assess Company Readiness to Partner
  • 8. Where do we draw the line between potential partner and competition? 8 What happens when the partner is a competitor? What’s the next best alternative? What proprietary information should we protect? How do we structure the relationship?