Executive Alignment Supports Digital Transformation
Our client has been one of the most influential names in Colorado’s workers’ compensation insurance for more than 100 years, serving over 56,000 companies in Colorado.
Digitization of workflow tools and mobilization of consumer portals were rapidly becoming the norm across the industry, and our client needed to act —or risk being left behind. While they broadly understood the need to digitally transform their customers’ experiences, our client also realized there was a great distance to travel toward a unified solution. In short, opinions were divided among board members on whether to follow in lockstep with the competition toward an off-the-shelf solution or create a system tailored to their customer-experience-focused strategy. Thought Ensemble was brought in to determine a solution for our client’s strategic needs. More importantly, we were tasked with helping to secure board approval with the proposed solution.
We quickly understood the need to distill their desires into a single cohesive vision and present it as a reliable business plan to their board. We assembled a highly experienced team to work closing with our client’s executive team to iteratively review and design the right solution.
We worked to crystalize the client’s aspirations into a cohesive digital customer engagement strategy and developed a corresponding proposal for the executive board. To achieve this, we performed an extensive financial analysis over six weeks, which included coordinating efforts across two of the client’s major development groups, many other key internal stakeholders, and multiple external advisors. We identified key components of change and worked collaboratively with all stakeholders involved.
The strategy and proposal, developed in close partnership with the client, were approved by their board, which — on a strategy of this magnitude — was a great success for our client. In an industry where their peers commonly settled for off-the-shelf solutions, our analysis provided our client with the confidence they needed to pursue a more innovative approach.
Well into their transformation program, the work we did continues to help guide them forward. Our client routinely goes back to the modeling and analysis we conducted to test their assumptions and ensure they are on track to deliver the change and transformation their business needs.