- Insurance:
- Pain Point: Slow and complex claims processes leading to customer dissatisfaction.
- Business Case Example: Develop a mobile app for claims submission.
- Invent: Conduct customer surveys to identify pain points (e.g., paperwork delays, lack of transparency).
- Test: Prototype the app and test with a pilot group of customers, iterating based on usability and feedback.
- Implement: Roll out the app with staff training, customer marketing, and integration into existing systems.
- Case Study: An insurer used design thinking to develop a claims app, reducing processing time by 35% and increasing customer satisfaction by 20%, supported by leadership-driven training and communication.
- Asset Management:
- Pain Point: Lack of user-friendly tools for ESG (Environmental, Social, Governance) investing, limiting client engagement.
- Business Case Example: Develop an ESG investment dashboard.
- Invent: Use focus groups and surveys to understand client preferences for ESG transparency and usability.
- Test: Prototype a dashboard interface and gather client feedback through pilot testing.
- Implement: Integrate the dashboard into the firm’s platform, using AI-driven analytics and training staff for client support.
- Case Study: An asset manager applied design thinking to create an ESG dashboard, increasing client engagement by 18% through a simplified, personalized interface.
- Connection to Pre-Reading: Highlight how leadership strategies (e.g., creating awareness, empowering teams) support prototyping and implementation by securing resources and fostering stakeholder buy-in.
- Discussion Points:
- How design thinking ensures customer-centric solutions in business cases.
- Benefits of iterative prototyping in reducing risks and refining solutions.
- Role of leadership in scaling innovations and aligning with organizational goals.
- Learning Activity: Participants review a case study (e.g., the insurer’s claims app or the asset manager’s ESG dashboard). In small groups of 4-5, they discuss how design thinking was applied, the outcomes (e.g., efficiency gains, client engagement), and leadership’s role in supporting the process. Each group shares a 2-minute summary with the class, followed by a brief instructor-led discussion.