Why Great Customer Experience Is So Rare And More

Weekend must read?

When growth slows, margins shrink, and competitors converge, leaders often resort to cost-cutting, diversification through acquisitions, and accelerating the pace of incremental improvements. Before defaulting to the well-worn playbook, pause. Are there customers or prospective customers who are frustrated, getting stuck, churning mechanically across brands? Consider placing customer experience at the core to unlock hidden growth and profit.?

Did you know??

Total investment in mobility was $39 billion in 2023, essentially level to 2022’s $40 billion?

While the overall investment flow remained flat and the number of funding rounds declined by 27% for the year, the size of those rounds significantly increased to an average of $52 million from $39 million in 2022 — the second-highest figure in the past decade. The year also saw around 60 mega-rounds of $100 million or more. Our Mobility Startups Radar identifies the top startups from across the global mobility space.???

Industry briefing?

Actions for insurance CEOs: Leaders need to be sharper than ever on where they truly differentiate — proprietary distribution and client access, customer data and insights, product innovation, asset origination and management, risk management — as well as building the right proprietary capabilities for their operating model. Here we propose 10 to do’s for insurance CEOs to adopt an offensive stance and win in 2024.?

Asia’s decarbonization: Countries across Asia have announced decarbonization goals and energy transition frameworks that aim to reduce the intensity of CO2 and other greenhouse gas emissions through more energy-efficient industrial processes and establishment of circular economies. Yet efforts to date have been insufficient to meet the region’s energy transition goals, given the escalating energy demand. Implementing multiple decarbonization strategies in the near future will be crucial to support Asia's net-zero transition.?

Corporate scoop?

Human-centric AI adoption: At Davos we brought together leaders from Microsoft and Huma to discuss adoption in artificial intelligence (AI). While speakers had differing views on the scale and pace of generative AI’s disruption, they agreed that companies can best unlock its potential by taking a human-centric approach, and giving employees the training and information they need to thrive alongside the technology. Here we expand on key takeaways.?

Efficient risk assessment: Boards and senior leaders rely on accurate, relevant, comprehensive, and comparable information from risk assessment programs to identify, assess, prioritize, and mitigate key risks to their organizations. Developing programs to assess financial and non-financial risks in silos can lead to inadequate information, inefficiencies in execution of risk assessments, and subsequent regulatory scrutiny. Here, we outline an approach to aligning for better success.??

Oliver Wyman in the news?

CNBC: Shift underway to more headwinds for European banks, analyst says

Fortune: BYD is coming for Europe—but high labor costs, connectivity issues, and stubbornly loyal customers might trip up the Warren Buffett-backed EV maker that’s leaving competitors in a ‘state of shock’

Politico: New Jersey's anti-Russia law drastically scaled back after court loss

Grist: Climate change will kill 14.5 million people globally by 2050 — but mostly not directly

Who to follow?

Michael Wagner, partner in our Financial Services Practice?

Eric Confais, partner in our Energy and Natural Resources Practice??

Danielle Tappitake, senior knowledge manager in our Digital Practice?

More insights?

Turning climate intent into action?

Leading in the age of acceleration?

Harnessing risk and economic disruption??