Since the beginning of the pandemic, insurers have embraced teleworking with many productivity and efficiency gains. However, the Chief Personal Offices (CHRO) have been more skeptical than their C-suite peers about whether organizations were really willing to support a remote workforce. And many organizations still lack the technology and infrastructure to maintain a distributed workforce in the long run.
Is it too late to assume cloud functions?
The good news is that insurers have time to decide on a course of action. If they take the necessary steps, they have the agility to scale technology and human resources so that they can respond to future disruptions. They could also gain a competitive advantage in the short term.
However, using techniques in an ad hoc way is not the best approach. As Kit Friend, a senior principal with Accenture's technology strategy and consulting practice, says
“We want people not just to try things chaotically and randomly, but to see this as an opportunity to implement things properly. Whether it is a flexible framework or the correct use of digital tools. "
Why start with cloud-based organizational analysis ?
The journey to the cloud will differ for each insurer, depending on their existing technology architecture and maturity. For those who have not yet begun their cloud journey, we believe that a good place to start is with cloud-based organizational analyzes that provide meaningful insight into the human workforce. Why?
People or organizational analysis can answer important questions about workforce planning and optimization, diversity and inclusion initiatives, productivity, commitment and satisfaction. Nicole Knott offers three examples of questions that can be answered with personal analysis:
- What proportion of my current workforce is in jobs that will become obsolete in the next five to ten years?
- How does my company identify which industries would be the best group to recall?
- How ready are my staff to turn to new offers and sources of income?
Cloud-based analytics can also help you identify and respond to people's personal problems and daily struggles. Workers may have the IT tools they need and be engaged in their work, but it is important to consider what happens more in their lives that affects their ability to perform best.
For example, many are worried about their children going back to school. Should they keep them at home or send them to the classroom ? And if they go to school, will they be safe? They are also worried about whether or when they themselves will need to return to the office and whether measures will be taken to minimize the spread of the virus. And some worry that they could lose their jobs if organizations choose to reorganize their staff.
With the help of personal analysis in the cloud, you can prioritize your people, quickly gather these types of insights so that you can respond appropriately – perhaps even build an "employee genome" that tracks the entire employee's journey. We believe that modern HR leaders lift people and make them "better better". See our recently released report to learn more about our views on the modern HR concept and five sweet spot methods that we recommend.
A cost-effective and low-risk starting point
In addition to helping you answer important business questions, cloud-based organizational analytics are a cost-effective and low-risk way to test the value of cloud features. Unlike changes in customer interactions or new product offerings, which are very visible, they work in the background. You can adjust them, keep making iterative and incremental changes until you get the insight you need.
As with all cloud functions, cloud-based analysis is scalable. You can start with a small pilot project and then extend quickly once the value is proven. And you do not have to worry about technical debt or the running cost of maintaining your own technical infrastructure to support your efforts.
In the cloud, your data and analytics are readily available anywhere in North America or around the world. They also have better protection compared to those found on on-pr e mise plants. Cloud-based solutions are more secure and enable better continuity, disaster recovery and data archiving.
If you are reading the latest CBI Insights article, insurance companies are facing a crisis. Now innovation is no longer optional and you feel worried that your organization has left it too late, was not it. There is still time to choose the right path. Embrace a cloud strategy and the peace of mind that will know that your technology infrastructure can grow with you, at your own pace.
If you want to talk about how your organization can benefit from cloud-based organizational analytics, you are welcome to reach .
Subscribe for more from Accenture Insurance.