In September, Velonetic announced an update to the replan of Blueprint Two, the program to digitize the London Insurance Market. If you’re involved in the London Market, you’ve likely been following the story – so you might have seen that vanguard and vendor testing of Blueprint Two Phase are beginning this quarter.
As more and more organizations get involved in testing the Phase one deliverables, and we get closer to the cutover point, the question of how Blueprint Two actually impacts organizations is coming into sharper focus. In this blog, we’re going to look at the specific areas of Phase one that are likely to impact operations, and suggest how you can manage that process using Decision Intelligence.
What’s changing in Phase one?
There are five major changes coming in Phase one; three are set to have a major impact on your operations:
- IPOS and ICOS will go online, replacing all existing portals and transforming how organizations manage their Policy and Claims workflows.
- Reporting
- Organizations will be required to implement project and change management activities to keep the other Phase one changes on track.
To some, those changes might not sound like much. But operations leaders know that these changes will affect how works gets done – and in an environment that’s as process-driven as insurance is, those changes have consequences for processes, people, and even your entire target operating model.
Given the drive towards digitization that sits at the heart of Blueprint Two, many processes are likely to become simplified or shorter. That will have a knock-on effect on what volumes of work your team can complete, and may affect how other processes mesh together as composite tasks for a larger process are completed at new times. There may be an opportunity to re-engineer processes to make them much more efficient.
The technologies that your people use will almost certainly change. With that comes questions around skillsets: can your people use the new systems required to get their work done? How many people already have the requisite skills, and will they be able to handle all the work you forecast? If not, how will you make up the shortfall?
The project management problem
In many ways, that requirement for project and change management is the most challenging requirement of Phase one. To deliver on it, you’ll need to be able to accurately describe:
- What success will look like for each change you’re making.
- How the area you want to change is currently operating.
- What you want that area to look like in the future.
More broadly, to make Phase 1 a success you need those three pieces of information:
- You need to have a thorough understanding of your current state. How long do various processes take? Which people are trained in specific processes? What volumes of work are your people processing each day?
- You need to plan what your future state looks like. If processes change, then what will they look like? Will they be faster, or slower? Will they require different skills?
- Once you have your current and future state documented, you can start to plan how you get from the former to the latter.
If the prospect of getting that information feels daunting, you’re not alone. After all, the processes that Blueprint Two is looking to digitize currently use a mix of online systems and paper-based processes that make it very difficult to get an accurate picture of what’s happening now in your operation.
That’s where Decision Intelligence comes in.
Decision Intelligence and Blueprint Two
What is Decision Intelligence?
Decision Intelligence combines human and artificial intelligence to tell you exactly what’s happening in your operations in real time and what you should do next to achieve your goals. Sounds exciting, right?
The foundation of Decision Intelligence is its ability to take data from a vast array of relevant systems across your organization to give you a single organization-wide view of productivity and capacity. Then, we combine powerful AI with our 15+ years helping organizations manage their operations to generate insights and recommendations that enable ops leaders to make the best decisions, faster, every time.
Mapping that back to Blueprint Two, Phase one, Decision Intelligence supports you in the following ways:
Decision Intelligence shows you your true current state
The first step in your change journey is understanding how things stand now. Decision Intelligence gathers all the data from across your organization, and shows it to you in a way that’s relevant for operations teams. With Decision Intelligence, it’s possible to make meaningful comparisons across teams and departments by applying a standard definition of things like capacity and productivity. You can also see a library of the skills in your organization, built by AI based on work people are doing.
Best of all, the data is available in real time. No more looking at data that’s weeks or even months old.
Decision Intelligence helps you plan your future state
Once you’ve documented how each process in your operation will change due to Phase one, you can start planning what those new processes will look like in your operations. Decision Intelligence includes AI-powered planning capabilities that allow you to see how your planned operating model will function based on your current workload, capacity, and skillsets. You can easily identify the gaps in your current state that need filling to get to your future state, and make a plan to bridge the gap.
Decision Intelligence keeps your change journey on track
Because it provides real-time intelligence, Decision Intelligence is ideal for tracking how your changes are working in reality. As you roll out new processes and technologies, you can monitor the impact they have on productivity, work in progress, and work completed volumes. If something is amiss, Decision Intelligence can even suggest actions to help keep things on track.
Decision Intelligence can even help support leaders to evaluate how the adoption of new processes is going, by understanding what time is being spent on training and, in some cases, what applications are being used across the business.
For Blueprint Two and beyond
Although Blueprint Two is the current hot topic in the insurance world, it won’t last forever. But the benefits of Decision Intelligence go far beyond helping your operation evolve in line with the requirements of Blueprint Two.
By improving the speed and quality of decision making across your operations, Decision Intelligence has the potential to bring about a wide range of benefits in your operations:
- You can uncover hidden capacity in your operation, which can be used to increase productivity, supporting your growth agenda or to upskill employees.
- By giving employees more training, you not only get a more versatile workforce – you get more engaged employees.
- You can better manage hybrid working, giving employees more flexibility without sacrificing performance.
- As employees gain skills, become more engaged, and are under less pressure, they’ll deliver better service to your customers.
- The professionalization of your operations can lead to demonstrable savings or even increased revenue, giving your operations a tangible contribution to business success.
We’ll be discussing how Decision Intelligence can support insurance organizations through Blueprint Two and beyond in more blog articles. But if you’d already like to learn more about Decision Intelligence, all you have to do is click below to get started.
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