Partnering with startups has grown in popularity. It’s a proven way to accelerate innovation and transformation programmes. But to what cost?
Right now, the #1 strategic challenge for insurance companies is to accelerate their digital transformation. The options are simple – do this internally or through external partners.
External partner innovation, or what is sometimes referred to as ‘open innovation’, has been growing in popularity as a solution to corporate transformation. But the challenge is how to do this whilst building, and more importantly not neglecting, the foundations for longer-term innovation and success.
This paper explores the opportunities for each route and looks at how best to shape the organisational design to deliver best results.