Case Study – Insurance Australia Group
Insurance Australia Group is a general insurance group based in Sydney, with operations in Australia, New Zealand and Asia. The company provides a range of commercial and personal insurance products, including motor vehicle and home insurance. Like most large insurance companies, it is undergoing significant changes due to industry and market pressures.
In undergoing significant change initiatives concurrently, the company is challenged to effectively plan and coordinate a range of changes and their impacts on the business. With so much change going on, a part of the business was feeling the heat. Employees were complaining that there is too much going on and operations staff felt frustrated that they weren’t able to effectively plan for change. Changes often seem to land suddenly with little notice given and there was little time to engage people.
This division trialed The Change Compass and over time capture the complete picture of change impacts on the business. The operations team incorporated this into their planning routines. With rich data they were able to identify any engagement and implementation risks. This allowed the business to effectively work with project teams on optimal implementation tactics. Meetings consisted of rich, insightful conversations led by data. The data also helped the team to experiment with different engagement tactics to manage change capacity and outcome. The focus on managing change spread throughout the business.
With the success of this trial, other groups started to use the data to understand the impacts of change on the business. Project teams started to use the data for planning and sequencing. Risk Management teams started to look at the data to better manage business implementation and operations risks. Strategy teams started to look at the data to better understand the business impact of potential new strategies and changes on top of existing planned changes. Other parts of the business have also started to adopt The Change Compass so that there may be enterprise level view of change. This helps senior managers make better decisions on the pace and quantum of change given existing company-wide change capacity.
“The reports were meaningful and revealing, allowing for great conversations, insights and decision making. Highly recommended to those who wish to deliver change successfully into their business.”
– Trish Smith, IAG