claropartners | End-to-End Innovation Toolkit
8467
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End-to-End Innovation Toolkit

End-to-End Innovation Toolkit

PARTNERSHIP ENGAGEMENT
Capacity Building

Is it possible to completely change an established banking culture to encourage risk-taking and real ownership to innovate better?

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Challenge

We were tasked to help the strategic innovation department of a leading insurance company evolve from a role of insights gathering (and hence cost center) to one of concrete new business ideas incubator. The objective was to have at least one new services developed in collaboration between the insurance company and a startup in the market within 6 months.

Approach

We developed a methodology and a toolkit specifically designed to guide the creation of services based on networked business models (i.e. services developed and delivered in collaboration between several partners – in this case the insurance companies and a startup). This package included a series of ad hoc frameworks and exercises covering the full length of the innovation cycle, from user-research to prototyping.

 

The project culminated in 2 one-week long bootcamps, during which we combined presentations on theory with hands-on exercises. Selected startups participated in the bootcamps together with the whole innovation team from our corporate client and at the end of the project the mixed teams had developed several innovative business ideas.

Impact

By mixing theory and practice, we ensured the strategic innovation team really interiorized and embraced the people-centric innovation philosophy we put forward. Moreover, working directly with startups allowed to identify early the challenges to tackle in order for the teams to efficiently work together moving forward.

 

As a result, less than 6 months after the end of the project, two highly disruptive services created and delivered in collaboration between our corporate client and startups participating in the bootcamps had already hit the market.