Also In This Issue: From the Driver's Seat - Insights of the Former Head of Retail & SME at Raiffeisen Russia, Other FSI Digital Transformation Weekly Reads
So would these LoB leaders have Sr Operations titles in Insurance companies or President of the particular business groups? I guess I’m wondering where is that line for calling too high when selling Digital transformation consulting and who is actually motivated like you described to actually deliver something vs just thinking about it and getting a nice binder from McKinsey et al
Hi Joe, every company would have its own nomenclature, and there is a different titles hierarchy in Insurance vs. Banking. For example, for P&C insurance, a large player might call those folks EVP/President, while a mid-size one - VP. A good bet is that such person reports into CEO and has a P&L responsibility. See a couple of examples here of a larger vs. mid-size P&C (neither is referenced in the above newsletter):
Thank you.
So would these LoB leaders have Sr Operations titles in Insurance companies or President of the particular business groups? I guess I’m wondering where is that line for calling too high when selling Digital transformation consulting and who is actually motivated like you described to actually deliver something vs just thinking about it and getting a nice binder from McKinsey et al
Hi Joe, every company would have its own nomenclature, and there is a different titles hierarchy in Insurance vs. Banking. For example, for P&C insurance, a large player might call those folks EVP/President, while a mid-size one - VP. A good bet is that such person reports into CEO and has a P&L responsibility. See a couple of examples here of a larger vs. mid-size P&C (neither is referenced in the above newsletter):
- Travelers: https://investor.travelers.com/corporate-governance/management-and-directors/default.aspx
- RLI: https://www.rlicorp.com/executive-leadership