4th annual process driven innovation conference 9 16-13
DESCRIPTION
4th Annual Process Driven Innovation Conference September 18, 2013 Presenter: Gerry Myers, Vice President, Global Innovation, Chubb & Son Presentation: The Integrated Enterprise: Innovation In The Knowledge Economy Abstract: What is the imperative for innovation in a knowledge economy where employees are strategic assets and a company’s value proposition is becoming more and more defined by its ability to connect, understand and build trust among its employees, customers and suppliers? Gerry Myers, Vice President Global Innovation at Chubb & Son, a leading Fortune 500 P&C insurance company, will provide insights into this question as he discusses Chubb’s innovation model and practical experience gained over the last five years. In doing so, Gerry introduces the concept of the Big I vs. little i in innovation in describing how Chubb is using new social business platforms to build an “always on” innovation ecosystem that leverages the intellectual capital of its enterprise to deliver value to its customers and distribution partners.TRANSCRIPT
The Integrated Enterprise Innovation In The Knowledge Economy
Gerry Myers VP Global Innovation, Chubb & Son 4th Annual Process Driven Innovation Conference
Philadelphia, PA 9/18/2013
Storyline Knowledge Economy
Where Do Good Ideas Come From?
Good idea paradox
Innovation in the Knowledge Economy
I v. i The Integrated Enterprise
4th Annual Process Driven Innovation Conference Philadelphia, PA 9/18/13
2
Knowledge Economy
Jack Bergstrand,” Reinvent Your Enterprise”, 2013
3 4th Annual Process Driven Innovation Conference Philadelphia, PA
9/18/13
Frederick Taylor On Manual Work Define the task Command and control Strict standards
Measure performance to strict standards Work is specialized and stable
Treat workers as costs
Peter Drucker on Knowledge Work Understand the task Give autonomy Continuous innovation
Continuously learn and teach
Work is holistic and changing
Treat workers as assets
Knowledge Characteristics • Ultimate economic renewable resource
• Stock is enhanced, not depleted by use
• Value creation comes from sharing with others • Across the enterprise (employees, customers, partners)
• Technology has enabled and accelerated knowledge
value creation across the enterprise • Web 2.0 interfaces • Mobile • Search (both content and people) • Dynamic networks • Personal brand building
• Knowledge is social
4 4th Annual Process Driven Innovation Conference Philadelphia, PA
9/18/13
Internal Source
External Source
Planned: Formal Processes
Unplanned: Informal Processes
Adhoc ideas from
anyone 30%
Industry studies &
consultants 5%
Customers, suppliers, and
competitor actions 45%
Strategic Plan, own
market research
20%
2010 All Rights Reserved – The DeSai Group
Innovation Is Often Unplanned And Driven From Across The Entire Enterprise
The Good Idea Paradox
5 4th Annual Process Driven Innovation Conference Philadelphia, PA 9/18/13
Data: full export of Chubb profiles: 813 people who submitted 2592 ideas, and 888 people who submitted 5631 comments.
Chubb’s Long Tail Experience
In every organization with an innovation model, few people contribute a lot while many others contribute a little.
Businesses tend to focus on the “head” of high-contributors. With the reach and simplicity of web 2.0 tools, the long tail of occasional contributors is enormous and valuable.
Wise organizations pay attention to both groups.
The Head: a few people who contribute dozens of times.
The Tail: hundreds who contribute a few times.
Chubb’s pattern is essentially identical to those of Pfizer, Cargill, Innocentive, and many others.
6 4th Annual Process Driven Innovation Conference Philadelphia, PA 9/18/13
Innovation Imperatives In The Knowledge Economy Tap into and leverage talent across all levels of
the enterprise Engage both “ends of the tail”
Build a on-going dialogue among employees, customers and distribution partners Trust established overtime
Dynamic, always-on, open and collaborative Easy, intuitive, a “place” where you work and get
things done
7 4th Annual Process Driven Innovation Conference Philadelphia, PA 9/18/13
Innovation Today: Common Characteristics Static Event/Challenge-Based Process/Stage-Gate Driven Fraction of innovation output is acted upon Struggling to measure value Rewards & Recognition programs “Hope to see you again”
8 4th Annual Process Driven Innovation Conference Philadelphia, PA 9/18/13
Innovation Carnival
Innovation In The Knowledge Economy Open & collaborative Ideation AND social business
I and i Integrated search capabilities Simple, customizable front end Robust analytics back end
Portfolio approach to idea management 2x2 decisional matrix
Decentralized, light-touch approach Early, visible wins Envision, Design, Operate, Build* Non-operational “seed” funding
Jack Bergstrand,” Reinvent Your Enterprise”, 2013
9 4th Annual Process Driven Innovation Conference Philadelphia, PA 9/18/13
Chubb’s Innovation Model
5 year track record of tangible results Revenue growth, operational efficiency, service excellence,
mobile, training & education Internal and external focus
30-45 day turnkey model Adaptive, end-user driven
Macro to micro
Model integration Ideation (I) and Social Business (i) Ability to export & import content from social to ideation
platform – a “home” for 99% of ideas that get discarded Searchable content & knowledge repository
10 4th Annual Process Driven Innovation Conference Philadelphia, PA 9/18/13
(i)nnovation Chubb’s social business platform
Dynamic, “always on” From “one to many” to “many to many” Organic, user/content-driven
Goals Facilitate collaboration across discipline, function, and
geography Help find and connect users with expertise
Capabilities Publishing & Content Sharing In-Depth Employee Profiles Search & Organization of Information Customizable “activity steams”
11 4th Annual Process Driven Innovation Conference Philadelphia, PA 9/18/13
(i)nnovation drivers
Geographic Dispersion and/ or
Organizational Silos
Deep Pockets of Technical Subject Matter Expertise
Dynamic Market, Economy,
Competitive Landscape
4th Annual Process Driven Innovation Conference Philadelphia, PA 9/18/13
12
LOSS CONTROL ADRIAN, MO TORONTO
SAN FRANCISCO
NJ
INDIANA
24 48 12 1 36 60 HOURS TO REPLY
HIGH ELEVATED CO AND CO2 LEVELS IN PLANT
BUENOS AIRES INDIANA
SAN FRANCISCO
FLORIDA
BALTIMORE OHIO
NJ
TORONTO
INTERNAL COMBUSTION ENGINES
NJ
URBAN BEEKEEPING
USE CASE: REAL-TIME DEEP KNOWLEDGE & IDEA SHARING
4th Annual Process Driven Innovation Conference Philadelphia, PA 9/18/13
13
(I)nnovation Chubb’s idea generation platform
Static, challenge/event based Business unit/organizationally-driven
Goals Complementary, off-cycle pipeline of 1-3 year ROI ideas Centralized technology & process, decentralized delivery
and execution Establish fast, repeatable model across global enterprise
Capabilities Simple, easily configurable idea generation platform Robust, easy to use scoring tools 2x2 decisional matrix
14 4th Annual Process Driven Innovation Conference Philadelphia, PA
9/18/13
4th Annual Process Driven Innovation Conference Philadelphia, PA 9/18/13
(I)nnovation
15
Pair-Wise Idea Scoring
16 4th Annual Process Driven Innovation Conference Philadelphia, PA 9/18/13
High
Low Difficult Easy
Top Ideas
1. … 2. … 3. … 4. … 5. …
Bold Moves Winning moves
Low priority Tactics – Quick Hits
Impact • Revenue Growth
• Requires little/no additional staff • We have the talent/expertise to execute • Has a small/manageable execution risk
Idea Portfolio Mapping
17 4th Annual Process Driven Innovation Conference Philadelphia, PA 9/18/13
Moving from i to I
Moving from i to I
Moving from I to i
Moving from I to i
Open Innovation
Idea Vetting
Top Idea Execution &
Tracking
Strategic Off-sites Sydney, Toronto, Berlin, Chicago
i + I Applied
22 4th Annual Process Driven Innovation Conference Philadelphia, PA 9/18/13
Innovation platform to build out and score ideas
Social “ecosystem” to begin the dialogue
+ =
Chubb’s Integrated Enterprise
Continuously Connected, Integrated Enterprise
I i IE
23
Chubb Innovation Global Applications
• Revenue Growth • Operational Efficiency • Ease of Doing Business • Social Media/Emerging Technologies
370+ groups 2,700+ active users 8,500+ documents 6,250 discussions 1,140+ blogposts
50 innovation events 5,00 ideas 30,000 participants Material revenue impact New services Process improvements
4th Annual Process Driven Innovation Conference Philadelphia, PA 9/18/13
Summary Innovation in a knowledge economy is a strategic
imperative Current, static-based models only solve one side
of the equation Innovation is as much a culture, mindset and
environment as it is process Innovation requires an always-on ecosystem to
live and thrive in a knowledge economy Social business brings this important new
dimension to innovation… i + I are complementary & necessary to build
sustainable value in a knowledge economy
24 4th Annual Process Driven Innovation Conference Philadelphia, PA 9/18/13