Page 267 - Performance Leadership

256 • Part IV Implementing the Performance Leadership Framework

Insurers should measure growth by measuring what percentage of
overall transactions goes through the new process, and should also
measure the growth of any new market or new business model created
with the joint innovation. Think of the collaboration between differ-
ent insurers to create a network for car repair shops, to create a new
value proposition. As with any relationship, feedback between the par-
ties is needed. Within such a close collaboration, this is done best by
having a process for continuous operational and strategic feedback. The
trusted third party that runs the insurer’s network has its own brand; it
is necessary to measure the brand value and the brand trust of the
initiative.
Although the parties share the same objectives toward their mutual
customers, insured people, they also have requirements toward each
other. Collaboration needs to be fast, right, efficient, and easy. Partic-
ularly in joint-value relationships, collaborative processes should be
designed very explicitly. For instance, insurers should evaluate their
contribution to a fast time-to-market, and they should track the time
needed to make strategic decisions through their joint management
channels. If they do this right, market share and brand preference are
the bottom-line indicators. Lastly, insurers should track how much each
contributes to the joint initiative in terms of management attention and
skills. Ideally, it should be as easy to deploy resources within the joint
initiative as within the insurance company itself.