Rethinking Roles in the Hong Kong Insurance Transformation Industry: Integration Over Mediation

The landscape of the Hong Kong insurance transformation industry is rapidly evolving, and with it, the roles and expectations of those at its helm. Gone are the days when being the bridge between IT and business was the gold standard. Today's industry leaders, like the C-level executive I met yesterday from a top-tier insurer (who has 1000+ people under his remit), are seeking advanced, world-class talent who do not merely coordinate but are fully integrated within both tech and business.

The Shift in Structure

Traditional transformation teams in insurance were often highly structured, with clear differences between the IT specialists and business professionals. However, a shift is underway. Business Analysts, Product owners and Managers are now working hand-in-glove with business users to implement change. This new model rethinks the idea of a middle person in favour of a more collaborative and integrated approach.

For example, for a BA to be integrated between tech/business means that the BA is not simply acting as a translator between the IT department and business units. Instead, the BA is deeply entrenched in both domains, understanding the strategic objectives of the business while possessing the technical acumen to realise those objectives through technological solutions.

Benefits of Aiming for Integrated Roles

1. Continuous Development:

By intertwining the realms of IT and business, professionals can engage in continuous learning. Technology and business strategies are in a state of constant flux, and an integrated role allows for a more holistic understanding of both. This duality fosters an environment where one is always at the cutting edge, mastering new technologies while simultaneously grasping the shifting sands of market needs and business models.

2. Less Resistance to Change:

Resistance to change is a common hurdle in traditional transformation roles, where 'the way we've always done it' becomes a mantra. However, when you're a part of both worlds, you embody the change. This integration makes the transition smoother, as stakeholders see the change manifesting within the team rather than being imposed from the outside.

3. More Stability and Value Addition:

In an integrated role, you're not pigeonholed into one aspect of the business; your skills and insights span multiple areas. This multifaceted expertise not only increases job stability but also makes you an invaluable asset to the organisation. You're not just supporting the business; you're actively driving it forward, leveraging technology to unlock new opportunities and efficiencies. You are also more protected from your role being taken over by AI. A lot of the co-ordination piece might be automated in the future.

The Integrated Future

The C-level executive's insight feels like foreshadowing. With more insurers scrapping transformation teams in the view of a more integrated approach, the coordinators are in less demand. This integrated approach might not just be about keeping up with the times; it's about setting the pace for what's to come.

In conclusion, as the insurance industry continues its transformation journey, the value lies not in being a bridge but in being the destination itself—an integrated professional who stands at the front of IT and business, driving innovation, growth, and transformation in an ever-changing landscape.