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Taking the Insurance Industry to the Next Level .

Taking the Insurance Industry to the Next Level . Transformation April 7, 2008. Presentation Roadmap. Imperative Insight Change Management Integration Issues. Transformation Imperative.

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Taking the Insurance Industry to the Next Level .

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  1. Taking the Insurance Industry to the Next Level. Transformation April 7, 2008

  2. Presentation Roadmap • Imperative • Insight • Change Management • Integration Issues

  3. Transformation Imperative • The change taking place in the Nigerian Insurance Industry is a Transformational Change resulting from external factors centered on the decision by Government to consolidate the Financial Sector • The consolidation is for efficiency in service delivery but ultimately for economic strengthening.

  4. Key Insights • In change situations, issues such as costs, quality and time are usually the focal point of executives • Unfortunately, these are the top of the iceberg, while the root issues beneath the surface are to do with perceptions, beliefs, power and politics • Intangible as these may be, they are the major causes of failure of change efforts.

  5. Change Management • The change management requirement for integration in the insurance industry following the consolidation will vary between organizations depending on the pattern and level on consolidation • Various models of change management are available but the principle involves: • Establishment of integration issues • Development of plan to manage the issues • Intangible as these may be, they are the major causes of failure of change efforts.

  6. Integration Issues • Typical integration issues will usually border on harmonization of: • Culture • Mission • Strategy • Leadership • Naturally such harmonization may affect structure and process.

  7. Thank You!

  8. Member of Deloitte Touche Tohmatsu

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