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The insurance industry is in a constant state of flux, characterised by a variety of external and internal factors. External influences such as advancing digitalisation, regulatory changes that need to be taken into account as well as changing market conditions and customer expectations pose major challenges. At the same time, internal factors such as takeovers, restructuring and the constant pursuit of cost optimisation add to the complexity. However, planning and announcing a new strategy is not enough to implement it successfully.

Accompanying change: uncertainty, fear and stress

Implementing change in insurance companies is not a process that can simply be ordered and enforced. On the contrary: change often triggers uncertainty and anxiety, both among managers and employees. It is important to put yourself in the shoes of those affected: They are given new tasks and are expected to change their behaviour and way of working, and in as short a time as possible.

There are often fears or even anxieties that they will not be able to cope with the demands and will have to fear negative consequences, whether in the form of an increased workload or fear of losing their job. The prospect of an uncertain future inevitably leads to stress. It does not matter whether these fears are actually justified; the expectations, fears, assumptions and attitudes of those affected are decisive.

Change management: importance and success criteria

This is where change management comes in. It is planned and managed like a project and comprises a series of structured approaches, methods and techniques that are implemented in several phases: Analysis and planning to determine the need for change, communication and stakeholder management, implementation of change, monitoring and evaluation of progress, and consolidation and continuation of successful change. The process is flexible and must be adapted and customised to the specific requirements and challenges of the insurance company. Change management is not only about developing and implementing new strategies, but also about understanding and addressing the human dimension of change by taking into account the emotions, fears and needs of employees.

Successful change management requires the active participation of all employees. Change management must therefore organise change in such a way that (as far as possible) all those affected can support and cope with the change.

Managers in insurance companies have a special responsibility to promote and support change. They must be able to communicate the vision clearly, set the direction and act as a role model. This is the only way they can motivate and support employees to actively help shape change.

It is therefore essential to prepare the managers concerned for their new role in the change process. This can be done through targeted training and coaching measures that enable them to deal effectively with the challenges of change and lead their employees successfully through the process. Only if the managers themselves have the necessary skills and are actively involved can changes in the insurance company be implemented sustainably and successfully.

Transparent and open communication that clearly explains the reasons for the change and the purpose and objectives of the change process is also crucial for successful change management. This helps to reduce fears and uncertainties and contributes significantly to clarity and trust among the employees affected. Transparency creates security and reduces speculation, which in turn strengthens confidence in the change process.

It is important to actively involve employees in the change process so that they feel heard and supported. They should have the opportunity to contribute their own concerns and ideas in order to help shape the change and lead it to success.

Further development of employees

In a constantly changing working environment, employees also need the appropriate skills to be able to deal successfully with change - whether it is a change in processes or the introduction of new software solutions, such as a new warehouse management system - the willingness to embrace new things and operate effectively in the new environment is crucial.

Targeted training is therefore necessary to ensure that employees have the necessary skills. This is the only way to ensure that the change process can be successfully implemented and the challenges effectively overcome. At the same time, employees' adaptability and expertise contribute to the continuous development of the insurance company and ensure its long-term success.

How we support you

Our experts support our clients with many years of experience in change management, particularly in the insurance industry. The qualified and experienced adesso employees bring technological competence, distinctive industry and business know-how as well as methodological expertise and project experience. With our proven process model, we guarantee holistic support based on quality and efficiency. We accompany our customers from the development to the implementation of a change management strategy.

Would you like to find out more about exciting topics from the adesso world? Then take a look at our previous blog posts.

Picture Sandra Weis

Author Sandra Weis

Sandra Weis works as Team Manager bAV Services at adesso. She has decades of experience in the insurance environment, advises companies on digitalisation projects and implements IT projects in the area of life insurance, especially company pension schemes.

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