07Nov18

SCOR Live Blog

Group

The Family at the SCOR Annual Conference 2018: Learning from successful partnering approaches in other industries

Speaking at the SCOR Annual Conference 2018, Nicolas Colin, Co-Founder and director of The Family, shared his views about the digital economy and how traditional corporations can reposition themselves in today’s environment.

 

 
The Family defines itself as a platform uniting entrepreneurs across Europe, a facilitator helping them to grow their projects in the digital economy. According to Co-Founder and Director Nicolas Colin, what defines the current digital transition is a shift in power. Unlike in the past, when power was mainly concentrated within organizations thanks to their assets, resources and information, in today’s digital economy “connected individuals are more powerful than corporations”. To be competitive, corporations need to harness that power. 
 
Nicolas Colin,
Co-Founder and Director of The Family
 
The insurance industry is deeply affected by all these changes, and Nicolas Colin shared five strategic lessons for traditional companies trying to reposition themselves against the backdrop of the digital transition:
  • Everything starts with customer experience.
  • You’re not safe, even if you own strategic assets.
  • The middle of the value chain can be a dangerous position.
  • There are many opportunities to reposition a company in its own value chain. In times of transition, there are many new jobs to do.
  • Entrepreneurs can be allies, and corporations must learn to work with them.