Michael Hayman and I were thrilled to be joined by Graeme Howard, the CTIO of Covea Insurance on a recent episode of Making Progress: Leading in Times of Change.
Covea aims to pioneer digital transformation of the insurance sector, which has seen the company named as ‘The Best Place to Work in Digital’. Graeme was also listed at number two in the CIO 100 in 2021.
We discussed with Graeme what inspires him to embrace technology and how he has fostered a culture of positive well-being within his team. A few key takeaways I would like to highlight:
1. Leadership is one of the most important aspects of a business
Doing things differently is one of the best ways to open new opportunities, and it is a leader’s job to decide when to take a different approach. Graeme has done this for Covea Insurance, leading it into the digital age, bringing cross-sector innovation to use existing technologies and applying them to the insurance sector.
And good leaders listen to their employees. Graeme tells us about how he cultivates a trust culture, by elevating the voices of his team and listening to what they have to say.
2. Digital is the future, industries must ensure they are not left behind
Graeme mentioned that the insurance sector was ripe for a digital transformation, and this is true across industries. We must embrace technology and put the infrastructure in place to leverage technology now.
Now, 83% of all businesses are reviewing their digital strategy and looking at how they can best perform in the digital economy. The pandemic has really accelerated this and pushed all industries to consider their use of technology.
As a technology leader, it is important to have a vision of how your business will grow and what technologies will play a role in that – it is more than integrating technology, it’s a context shift.
3. The pandemic has tested business agility
Remote working forced all businesses to embrace technology, but those that already had the infrastructure in place adapted quickly and proved resilient.
Those companies that thrived during the pandemic had a very solid digital strategy, whilst those without the robust digital infrastructure already in place, struggled. Going forward, business leaders are going to pay closer attention to their digital strategy.
Agility is also about how businesses can integrate social purpose and engagement into their everyday practises. Companies banding together to solve societal problems on gender diversity, ethnic diversity, sustainability have completely disrupted the status quo.
