The premise was simple. Given the hype around digital you might be excused for thinking that you need to re-platform everything, rip out what you currently have – and start again – to remain relevant in the modern insurance market.
Especially given the threat from fleet-of-feet start-ups operating with a clean piece of paper and no legacy technology.
But it should not be forgotten that as a legacy organisation you have a number of things that start-ups would love to have. Including data and customers, and that is just for starters.
Here’s a summary of interesting stories I’ve seen over the last week. I try to concentrate on the stories which aren’t necessarily mainstream.
I’ve always said the Premier League is commercially 5 years behind the NFL. To anyone who thinks Premier League TV revenues or player salaries are too high, do not read this article on the latest NFL commercial numbers. Some examples:
The Raiders are building a new stadium in Las Vegas at a cost of $1.7bn. Tottenham Hotspur is building a stadium in London for £800m.
Roger Goodell is the commissioner of the NFL. He earns $30m per year, compared to Richard Scudamore, the head of the Premier League, who earns £2.5m including bonuses.
The Premier League does win on salaries though. The NFL has a team salary cap of $167m per team. Compare this to Manchester City’s wage bill (last year) of £225m. Put another way, the top 5 teams in the Premier League has a wage bill higher than the NFL’s cap.
During some recent presentations on innovation and technology trends, I’ve been asked for day to day advice, techniques and tips for creative or innovative thinking at work.
In summary, creativity or freshness comes from breaking habits, which are often unconscious behaviours – those things we do without even thinking about it. So here are 10 ideas for breaking habits to foster more creative or innovative thinking at work:
1. Meet customer facing staff, e.g. sales, front line support. Carefully listen to their anecdotes. If you don’t usually speak directly to customers, you’ll probably find the stories revealing. I’ve seen CIOs’ jaws drop when listening to customer service staff.
Plexal is an innovation area based in part of the former Media Centre originally built for the London 2012 Olympics. This morning I went on a tour of the facility with a few colleagues from Endava.
The CEO of Plexal, Claire Cockerton, took us around. Claire founded Innovate Finance after working at Level39, the Fintech accelerator.
Plexal has been designed around the metaphor of an ‘Innovation High Street’. You walk in half way down the ‘High Street’. The reception desk transforms into a bar in the evening. The High Street has several glass fronted offices on the ground floor, intermittently separated by open desk areas acting as communal areas. Offices range from large (a couple of dozen desks) down to one-person pods the size of old public telephone boxes.
Communal areas also serve as fixed, large desks for organisations wishing to rent a permanent desk and leave a few monitors in place. There are coffee machines and kitchens dotted around, essential for start-ups. The whole place is designed and finished immaculately (the offices which are not still under construction). Once finished, it will cater for 800 people. At the moment it’s just over half full. Continue reading Our visit to Plexal, London’s latest innovation area→
Please share this post with your contacts because it makes me feel better.
Modern businesses need to become more engaging, responsive and efficient. To achieve this, they need to focus on stronger digital deliverables, agile processes and automate much more than they do today.
Many businesses still struggle to define what digital really means, so we have come up with 12 “best practices” which include:
Business Focussed Solutions (not technical)
Self-service (for everyone)
Try stuff (Fail fast/ learn quickly)
(Very) regular releases
Easy to use and regular multi variate testing
Easier integration (e.g. APIs)
New business models (e.g. marketplace, sharing economy…)
There’s lots of publicity from technology companies like Google, Apple and Tesla about their vision of the self-driving cars. Time for some research on what traditional car manufacturers are looking at…
I’ve looked at the manufacturers’ websites and YouTube channels to get their official view – rather than a sneak preview clip from a cunning motoring magazine.
Technology in the car industry seemed to stagnate for a few decades until Google and Apple shook up the existing manufacturers. We can now see a range of innovative ideas and themes across the industry.
“Two, three or four years ago we could not have imagined building such a complex vehicle which is capable of doing so much.
“We are driving backwards. Absolutely incredible driving because it’s now like sitting in a train or a private Learjet.
I think that’s a good comparison.”
BMW – the 7 series
Not a concept car here… the latest BMW 7 series with remote control parking… it can drive into and out of a garage without anyone inside. Plus gesture control (i.e. touch-less) for the dashboard. Not sure about the fragrance control though.
I went to a few of the presentations, but only two of them are worthy of any mention (one, which I won’t name, didn’t have a presenter… the technical support guys simply played a video in the theatre – it was one of the oddest ‘presentations’ I’ve seen).
I recommend the organisers arrange fewer presentations next year, aiming for quality over this year’s huge quantity.
I went to the Smart IoT (Internet of Things) event today in London’s Excel centre. The programme of presentations over the two days looked great, so I signed up a while ago. This post is to share with my colleagues and for anyone else who couldn’t make it today.
I’ll start with a summary and then go into detail, because I made lots of notes during the presentations.
Summary of Smart IoT 2016 Day One
On the content:
There were some thought provoking content (which I’ve covered below) mixed in with some below-par presentations.
I didn’t see any presentations where payments were discussed. I.e how IoT devices will transact with one another/ a service/ a person.