The London market is on a digital transformation journey to tackle inefficiencies and decades of increasing operating costs.
Strategically, organisations have an imperative to invest in process improvement, simplification, business transformation, cost reduction, and the decommissioning of legacy technology. But the low rate of progress and over-spend proves that it is no longer practical or financially feasible for companies to follow a silo-based approach towards transformation or attempt to boil the ocean when tackling multiple problems simultaneously. A fresh, dynamic, tactical approach is needed. Partnership and collaboration to facilitate transformation could be the key to success.
The value creation of ecosystems
Ecosystems create value in a more client-centric modular approach through a network of offerings that work together to define, implement, and integrate solutions. Each member of the ecosystem should and can stand on their own as a great solution to any individual business problem, but collaborating and innovating with their combined expertise or products can deliver more than they ever could on their own. In a well-balanced ecosystem, the whole is greater than the sum of the parts, and the biggest winner should always be the client.
As technology advances and customer expectations evolve, the market faces the risk of losing focus and diluting vision when players in the transformation journey do not work together to leverage their collective strengths. Companies need to target areas of change and supercharge productivity throughout a process or lifecycle through a single integrated experience – an ecosystem of solution partners.
The London insurance market
Within the London and global specialty insurance industry, we have seen traditional business models replicated over many years. Monolithic, multi-year programmes which attempt to transform organisations and the market at large have been largely unsuccessful. We see companies facing the same challenges with speed and scale when defining and working on their strategic planning to improve their technological and operational capabilities.
Our ecosystem, the r10 Partner Ecosystem
r10 has built an ecosystem that facilitates a single integrated experience for change. Alongside a strong selection of leading-edge partners, our ecosystem has created a collection of products and innovative skills to allow comprehensive and faster change cycles. The solutions easily integrate with each other, so that organisations can access modular (tactical) and end-to-end (strategic) solutions with the support of r10’s professional services to assist or lead implementations.
What does the r10 Partner Ecosystem mean for our clients and the market?
The r10 Partner Ecosystem means that our clients have access to a one-stop-shop of validated products and services that provide a flexible approach to change, both tactical and strategic.
It provides the ability to move at pace and in parallel with scalable and simple products that integrate with existing platforms. r10 works with our clients to identify the best organisational change opportunities then coordinates the solution delivery as a trusted, results-driven implementation partner.
Want to know more about our r10 partner ecosystem? Visit our partners page on r10’s website or get in touch for more information. We will be announcing our ecosystem partners and their capabilities over the next weeks.