Page 259 - Performance Leadership

248 • Part IV Implementing the Performance Leadership Framework

F igur e 13.1
A Typical Insurance Performance Network

Regulators Shareholders

Intermediary
Market

Reinsurer
Collectives
General
Insurance
Consumer
Consumer
goods vendors
Trusted Broker Employers
third party

Service
Competitors providers

I will primarily focus on the insurance performance network “down-
stream,” given the high dynamic that insurance business models show
in the channels to reach the customers. This doesn’t mean the per-
formance network doesn’t stretch upstream: How an insurance com-
pany reinsures its risks, works with other financial institutions, and
relates to its shareholders and regulators. For practical reasons, in this
chapter, I will focus on general insurance, such as fire insurance, travel
insurance, and health insurance.

Managing Channel Stakeholders

In order to manage this performance network for each of the stake-
holders in the performance network, we need to have an understand-
ing of the following:

• The nature of the relationship between the stakeholders
• Which level of transparency is needed to be able to collaborate
• Which reciprocal metrics are needed to manage the
relationship
• The trust between the stakeholders in order to form a single
value proposition