Greenfield discussions are fantastic because it allows incumbents to think like an Insurtech, and form a go-forward strategy.Alex Lyall, Oliver Wyman Partner and Head of Fulcrum
Accelerating digital transformation
The new normal has accelerated digital transformation for insurance leaders. Across the Life & Retirement and P&C sectors, incumbents are modernizing their tech stack, whether its increasing speed, leveraging data, partnering with insurtechs, or building seamless customer experiences. But flipping the switch comes with many challenges.
On this episode we talk tech and insurance. Paul Ricard is joined by Alex Lyall and Justin Kahn, leaders of Oliver Wyman's Fulcrum technology. We take a deep dive into industry trends, greenfield considerations, and the key ingredients to a successful legacy transformation. Plus, how incumbents can leverage their strengths and get unstuck when it comes to building a modern tech stack. And we learn how Fulcrum's proprietary tooling and intelligence is helping life insurers solve their most pressing and complex infrastructure challenges.
Fulcrum is Oliver Wyman’s proprietary platform where strategy and execution meet. Our platform provides the necessary tooling and intelligence to get your organization unstuck.
Reinventing Insurance Podcast
Our Reinventing Insurance podcast explores best practices for taking a CustomerFirst approach to innovation within Insurance. Throughout this series, host Paul Ricard discusses lessons, challenges, and new ways of working with guests who will share their first-hand experiences.
Our podcast host
Paul Ricard is a Partner in Oliver Wyman’s Insurance practice and a member of the CustomerFirst platform, which focuses on designing and building digital solutions, starting with customer needs and challenges. Paul has worked with large financial-services institutions across the Americas and Asia-Pacific regions. He is also actively connected with the Insurtech and Fintech communities, and has facilitated strong ties between Insurtechs and incumbents. His areas of expertise include designing and building greenfield digital solutions and implementing large-scale digital transformations.
Alex Lyall is a Partner and Head of Fulcrum, Oliver Wyman's proprietary platform where strategy and execution meet. Alex focuses on the Life & Retirement sector, as well as operations, data and digital solutions. He often advises clients on technology strategy, operations strategy, cost optimization, greenfield insurance businesses, and digital transformation. Prior to joining Oliver Wyman, Alex worked in the investment banking industry for more than 20 years across operations and technology.
Justin Kahn is a Principal in Oliver Wyman's Insurance and Digital practices, as well as the Product and Delivery lead for Fulcrum. Justin focuses on enabling Life & Retirement companies to improve customer experience via technology transformation. While managing Fulcrum's capabilities and offerings, Justin advises clients on complex legacy technology migrations, data transformation, and product and process redesign.
Clients of our Fulcrum solution have been amazed by the rapid impact across Insurance Operations, Finance, Risk and Actuarial.
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In Episode 6, Beth Costa shares perspectives on the dynamic side of Payments, and the latest pandemic impacts to commerce, Insurance, small businesses and Millennials. During our conversation, Beth dives into current growth and consumer opportunities, and what companies need to survive and thrive in this new age of commerce. We discuss how fintechs and new technology companies are changing the game and reinventing customer experiences with super apps. View more from our Reinventing Insurance Podcast collection.