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Empowering Insurance Executives to Lead Digital Transformation


Capability academy approach for
IT executive education
 

Transformation Starts from the Top


The digital revolution is upending many industries, including insurance. Rapidly evolving technologies, an explosion of data, and customers with new expectations for the speed and ease of insurance services are reshaping business models and driving innovation in every area of the business. There is a broad recognition that wholescale digital transformation is now an imperative for insurance firms.

Early in its digital transformation, a leading global property and casualty insurance company recognized a fundamental fact: transformation starts from the top of the IT organization. Quickly realizing a technology-enabled vision and reaping the benefits of digitization requires IT executives and senior managers to develop new capabilities and work differently with the business. To be successful, IT leaders need to have a common lexicon and understanding of leading-edge technical knowledge, a shared vision for change and, most critically, a people-first approach that empowers the organization and creates a digital culture.

Target Areas for Digital Transformation 

API & MICROSERVICES

DEVOPS

CLOUD & SERVERLESS

DATA ANALYTICS

ARTIFICIAL INTELLIGENCE & MACHINE LEARNING

LEADING DIGITAL TRANSFORMATION

Target Areas for Digital Transformation 

API & MICROSERVICES

DEVOPS

CLOUD & SERVERLESS

DATA ANALYTICS

ARTIFICIAL INTELLIGENCE & MACHINE LEARNING

LEADING DIGITAL TRANSFORMATION

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Bringing Insights from Working with Digital Natives    

The client asked EPAM to ensure its top IT leaders have the technical, data and leadership capabilities necessary to navigate their digital transformation journey. EPAM was selected because we’re a leading software solutions firm, not a training company. In 25+ years of working with the world’s most advanced companies, we have learned a lot about what IT leaders must do to make their organizations fast and agile and how to build a culture that attracts and retains top technical talent. The client asked for a learning and advisory engagement that shared our insights and on-the-ground experiences.

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Key Challenges and Learning Program Design Considerations

 

  • Increase IT leaders’ technical and leadership capabilities in the five target areas.
  • Galvanize and motivate the organization for change.
  • Foster a culture of learning.
  • Drive implementation and problem-solving via an outside-in perspective and provide insights from insurance and insurance-adjacent industries. 
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Leveraging Capability Academies Approach    

Leading digital transformation isn’t a simple skill that is easily trained. It is an incredibly complex meta-capability that requires mastery, synthesis and prioritization of several mutually dependent capabilities. Moreover, there is no one path to digital transformation—each organization has a unique combination of strategic imperatives, goals and culture—but there are many ways to get it wrong. 

To address this challenge, EPAM’s Client Learning & Talent Enablement used a cutting-edge, research-based learning approach called a capability academy. Academies combine carefully designed learning experiences and resources with activities that are grounded in business strategy, unfold over time and predict tangible business outcomes.

 

Integrated Consulting Team 

Senior
technologists

Insurance
experts

Learning
experts

CIO
advisors

Organizational
change consultants

Integrated Consulting Team

Senior
technologists

Insurance
experts

Learning
experts

CIO
advisors

Organizational
change consultants

 
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IT Executive Learning
Program Highlights


Every aspect of the engagement — from content to coaching to workshops — was tailored to the client’s strategy, language and organizational context.

  • Specialized content. Interactive, self-serve online content, developed by IT leaders for IT leaders, distilled EPAM’s insights and lessons learned from decades of experience with digital natives.
  • Reflection and organizational evaluation. Leaders were guided in assessing organizational maturity in each target area and then provided with options and considerations regarding the key technologies, processes and organizational changes required to move forward.
  • Implementation advisory. EPAM experts met individually and in small groups with the client’s IT leaders to address the most critical aspect of the engagement: implementation. Current and future implementation challenges and considerations were raised, and the groups worked together to ideate solutions, trade-offs and remediation activities.
  • Action-planning workshops. Cohorts of client leaders met with our senior technology and transformation experts to develop concrete, individual action plans aligned to their technology strategy.
  • Knowledge and efficacy assessments. The program began and ended with individual, scenario-based knowledge assessments. Participants were also asked to rate their confidence in implementing the organization’s tech vision.

Learning How to Lead Digital Transformation 

 

Since implementing the learning program, the client’s IT organization has achieved the following results:

22%average growth in knowledge

 
Identified gaps in strategy and critical areas for attention

 
Coordinated concrete action plans for each IT leader that align with the technology vision

>90%of IT leaders reported they felt better prepared to lead the transformation

 
Deepened collaboration across the IT organization

 
Increased velocity and engagement in other initiatives related to the technology vision

Learning How to Lead Digital Transformation 

 

Since implementing the learning program, the client’s IT organization has achieved the following results:

22%average growth in knowledge

>99%of IT leaders reported they felt better prepared to lead the transformation

Identified gaps in strategy and critical areas for attention 

Deepened collaboration across the IT organization 

Coordinated concrete action plans for each IT leader that align with the technology vision 

Increased velocity and engagement in other initiatives related to the technology vision 

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"We asked for a program to ensure our leaders had a common understanding of our vision, a shared lexicon and unified approach to change. This program has done all that and more.”

 

COO, Sr. Director of Technology

To learn more about how we can help you establish the right capabilities, the right way, and get results, contact us at LearningPractice@EPAM.com