PolicyCastle’s recent experience demonstrates the UK insurance industry wants to innovate. In large and small insurers we have found Head Office teams, Corporate Strategy teams and Operational teams all engaging with us to improve things for the consumer.
In that spirit, we offer some constructive criticism back to the large insurers:
You need to improve internal communications.
Often we find that the members of the corporate strategy team have been brought in from outside the industry to provide new ideas. And they are doing that. But often they don’t know the operational teams very well – usually they are sitting in different offices. So external communications are faster than internal communications.
“Big companies are not good at internal communications” is hardly new news.
What is the answer?
No doubt it is different in each case. But corporate strategy teams spending more time listening to operational teams, in the same room, ought to help.