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2012.11.09 management by trust - peter maas

Sheffie Jos
Sheffie Jos

The document discusses a case study of the Dutch insurance company Interpolis and its focus on building trust. It describes Interpolis' three levels of trust - between employees and the company, employees and customers, and the company and customers. Interpolis aims to create a culture of trust internally and provide clear, open communication with customers to increase their satisfaction and loyalty. This approach has led to growth for Interpolis and lower costs compared to traditional insurance companies.

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Management by Trust: The Case of a Dutch Insurance Company Bruno K辰slin Peter Maas Albert Graf
MBA FSI Module 1 Interpolis Case Nov. 9, 2012 Agenda Page 2 Market perception / expectation Concept of trust Research methodology Case Study: Interpolis Results Managerial and research implications 息 I.VW-HSG
MBA FSI Module 1 Interpolis Case Nov. 9, 2012 Page 3 息 I.VW-HSG
MBA FSI Module 1 Interpolis Case Nov. 9, 2012 Market perception Page 4 Insurance companies are huge and clumsy organisations who are just not there when you need them. and if they help you they do it very slowly they are all the same youre just a number no idea about what is covered you have to pay attention to the details! they make huge profits, that are paid by us, the customers! which means: one never knows what to expect! 息 I.VW-HSG
MBA FSI Module 1 Interpolis Case Nov. 9, 2012 Market expectations Page 5 I want them to keep their promises! offer clarity, which enables me to make the right choice Trust is of they have to help me when I really need them utmost importance concrete problem solving in an actively think together with me! insurance- client- relationship tell me whats it about! 息 I.VW-HSG
MBA FSI Module 1 Interpolis Case Nov. 9, 2012 The construct of trust Page 6 Trust is defined as an accumulation of overall positive expectations which are commonly shared among several relationship partners (individuals, groups or organisations) and which is borne by the confidence, that no party will take advantage of / capitalize on / exploit the other parties vulnerability. Source: Hubschmid 2002 Clients Social environment 3 Shareholders 4 Competitors Insurance company 2 Politics 1 Culture of trust 1 Media 2 Experience- based trust 3 Reputational Employees trust 4 General trust 息 I.VW-HSG
MBA FSI Module 1 Interpolis Case Nov. 9, 2012 Value creation through trust: three levels Page 7 Experience-based trust Reputational trust Length of relationship Positive image Contact frequency Reputation Customer At a personal level: Integrity Third parties Competence Branding Expertise Openness Ongoing Fairness communication Sympathy Size Affinity Reciprocity Shared values etc. Company Employee Culture of trust History and future of organisation Success of organisation Organisation of work Source: Irons 1992 Style of leadership Politics of service Company culture 息 I.VW-HSG
MBA FSI Module 1 Interpolis Case Nov. 9, 2012 Research Methodology: Case Study Page 8 Methodology: Case Study Research (Eisenhard) Qualitative methods including interviews, desk-research, company headquarter visits Goals: What is the concept of trust in the insurance industry? How should an insurance company proceed in raising the general level of trust? How does a business profit from a higher level of trust? Interpolis: One of the largest and most innovative providers of insurance, old-age provisions and staff availability services (reintegration, absenteeism, occupational health and safety, etc.) in the Netherlands, also active in Ireland, Luxembourg and Portugal 6,000 workers at Interpolis Turnover of 5 billion euros in 2003 Interpolis has been part of the Rabobank Group since 1990 and is a co- operative membership institution 息 I.VW-HSG
Customer MBA FSI Module 1 Interpolis Case Nov. 9, 2012 Interpolis: A Dutch Insurance Company Page 9 Company Employee Company Employee Trust-Level 1: Company and employees Corporate culture: The four Vs: Vertrouwen (confidence, trust) Vrijheid (freedom) Verantwoordelijkheid (responsibility) Verbondenheid (solidarity) Building an inspiring micro city environment: working, conferencing, discussions, meeting people, relaxing and eating Internal communication Employee selection 息 I.VW-HSG
MBA FSI Module 1 Interpolis Case Nov. 9, 2012 Page 10 息 I.VW-HSG
Customer Customer MBA FSI Module 1 Interpolis Case Nov. 9, 2012 Interpolis: A Dutch Insurance Company Page 11 Company Employee Employee Trust-Level 2: Employees and customers Main goal: Creation of customer value Each customer is cared for by one of the Rabobank branches Clear and open communication with clients All insurance policies are formulated not in an incomprehensible judicial jargon but simply and clearly Claims-management: Goal: 1 day settlement No detailed checks Highly-sophisticated fraud-detecting systems Countrywide database for fraudster 息 I.VW-HSG
Customer MBA FSI Module 1 Interpolis Case Nov. 9, 2012 Interpolis: A Dutch Insurance Company Page 12 Company Employee Trust-Level 3: Company and customers Branding: Interpolis. Crystal clear A very transparent range of products, e.g. the all-in-one-policy Customers are seen as members and they are able to talk about their needs and wishes, dislikes etc. 息 I.VW-HSG
MBA FSI Module 1 Interpolis Case Nov. 9, 2012 Interpolis: Some impressions Page 13 The working environment 息 I.VW-HSG
Results MBA FSI Module 1 Interpolis Case Nov. 9, 2012 Page 14 Interpolis attributes a large part of its market success to the existence of a culture of trust Ability to communicate actively with customers and employees: Satisfied customers Satisfied employees A company culture has been developed, which promotes innovations, lowers costs and significantly contributes to a positive performance 30% more employees compared to traditional office Not a restaurant with 1.500 seats Less absence, less employee turnover Steady growth 息 I.VW-HSG
MBA FSI Module 1 Interpolis Case Nov. 9, 2012 Implications... Page 15 ... for researchers A comprehensive research model on management by trust in the insurance industry must consider different levels of trust: internal culture of trust, reputational trust, experience-based trust Open and clear communication among other factors has a great impact on internal and external trust relations Implications are limited: Case in the Dutch insurance industry ... for managers Trustworthy relationships sustainably enhance the companys success and lowers costs of control Insurance companies should not only care about trustworthy shareholder relationships but also cultivate an internal culture of trust and foster trustworthy relationships with clients 息 I.VW-HSG
MBA FSI Module 1 Interpolis Case Nov. 9, 2012 Debriefing: Learnings from the Interpolis case Page 16 When you think back to yesterdays visit... Why did Interpolis embark on this change journey? What operating model does Interpolis basically pursue (OpEx, customer intimacy, product leadership)? Why? Which are the success factors of the Interpolis story? Which aspects of the Interpolis case would you like to translate to your organisation? What could enable the success of such a transfer? 息 I.VW-HSG
MBA FSI Module 1 Interpolis Case Nov. 9, 2012 Page 17 Thank you for your attention! Questions? 息 I.VW-HSG

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2012.11.09 management by trust - peter maas

  • 1. Management by Trust: The Case of a Dutch Insurance Company Bruno K辰slin Peter Maas Albert Graf
  • 2. MBA FSI Module 1 Interpolis Case Nov. 9, 2012 Agenda Page 2 Market perception / expectation Concept of trust Research methodology Case Study: Interpolis Results Managerial and research implications 息 I.VW-HSG
  • 3. MBA FSI Module 1 Interpolis Case Nov. 9, 2012 Page 3 息 I.VW-HSG
  • 4. MBA FSI Module 1 Interpolis Case Nov. 9, 2012 Market perception Page 4 Insurance companies are huge and clumsy organisations who are just not there when you need them. and if they help you they do it very slowly they are all the same youre just a number no idea about what is covered you have to pay attention to the details! they make huge profits, that are paid by us, the customers! which means: one never knows what to expect! 息 I.VW-HSG
  • 5. MBA FSI Module 1 Interpolis Case Nov. 9, 2012 Market expectations Page 5 I want them to keep their promises! offer clarity, which enables me to make the right choice Trust is of they have to help me when I really need them utmost importance concrete problem solving in an actively think together with me! insurance- client- relationship tell me whats it about! 息 I.VW-HSG
  • 6. MBA FSI Module 1 Interpolis Case Nov. 9, 2012 The construct of trust Page 6 Trust is defined as an accumulation of overall positive expectations which are commonly shared among several relationship partners (individuals, groups or organisations) and which is borne by the confidence, that no party will take advantage of / capitalize on / exploit the other parties vulnerability. Source: Hubschmid 2002 Clients Social environment 3 Shareholders 4 Competitors Insurance company 2 Politics 1 Culture of trust 1 Media 2 Experience- based trust 3 Reputational Employees trust 4 General trust 息 I.VW-HSG
  • 7. MBA FSI Module 1 Interpolis Case Nov. 9, 2012 Value creation through trust: three levels Page 7 Experience-based trust Reputational trust Length of relationship Positive image Contact frequency Reputation Customer At a personal level: Integrity Third parties Competence Branding Expertise Openness Ongoing Fairness communication Sympathy Size Affinity Reciprocity Shared values etc. Company Employee Culture of trust History and future of organisation Success of organisation Organisation of work Source: Irons 1992 Style of leadership Politics of service Company culture 息 I.VW-HSG
  • 8. MBA FSI Module 1 Interpolis Case Nov. 9, 2012 Research Methodology: Case Study Page 8 Methodology: Case Study Research (Eisenhard) Qualitative methods including interviews, desk-research, company headquarter visits Goals: What is the concept of trust in the insurance industry? How should an insurance company proceed in raising the general level of trust? How does a business profit from a higher level of trust? Interpolis: One of the largest and most innovative providers of insurance, old-age provisions and staff availability services (reintegration, absenteeism, occupational health and safety, etc.) in the Netherlands, also active in Ireland, Luxembourg and Portugal 6,000 workers at Interpolis Turnover of 5 billion euros in 2003 Interpolis has been part of the Rabobank Group since 1990 and is a co- operative membership institution 息 I.VW-HSG
  • 9. Customer MBA FSI Module 1 Interpolis Case Nov. 9, 2012 Interpolis: A Dutch Insurance Company Page 9 Company Employee Company Employee Trust-Level 1: Company and employees Corporate culture: The four Vs: Vertrouwen (confidence, trust) Vrijheid (freedom) Verantwoordelijkheid (responsibility) Verbondenheid (solidarity) Building an inspiring micro city environment: working, conferencing, discussions, meeting people, relaxing and eating Internal communication Employee selection 息 I.VW-HSG
  • 10. MBA FSI Module 1 Interpolis Case Nov. 9, 2012 Page 10 息 I.VW-HSG
  • 11. Customer Customer MBA FSI Module 1 Interpolis Case Nov. 9, 2012 Interpolis: A Dutch Insurance Company Page 11 Company Employee Employee Trust-Level 2: Employees and customers Main goal: Creation of customer value Each customer is cared for by one of the Rabobank branches Clear and open communication with clients All insurance policies are formulated not in an incomprehensible judicial jargon but simply and clearly Claims-management: Goal: 1 day settlement No detailed checks Highly-sophisticated fraud-detecting systems Countrywide database for fraudster 息 I.VW-HSG
  • 12. Customer MBA FSI Module 1 Interpolis Case Nov. 9, 2012 Interpolis: A Dutch Insurance Company Page 12 Company Employee Trust-Level 3: Company and customers Branding: Interpolis. Crystal clear A very transparent range of products, e.g. the all-in-one-policy Customers are seen as members and they are able to talk about their needs and wishes, dislikes etc. 息 I.VW-HSG
  • 13. MBA FSI Module 1 Interpolis Case Nov. 9, 2012 Interpolis: Some impressions Page 13 The working environment 息 I.VW-HSG
  • 14. Results MBA FSI Module 1 Interpolis Case Nov. 9, 2012 Page 14 Interpolis attributes a large part of its market success to the existence of a culture of trust Ability to communicate actively with customers and employees: Satisfied customers Satisfied employees A company culture has been developed, which promotes innovations, lowers costs and significantly contributes to a positive performance 30% more employees compared to traditional office Not a restaurant with 1.500 seats Less absence, less employee turnover Steady growth 息 I.VW-HSG
  • 15. MBA FSI Module 1 Interpolis Case Nov. 9, 2012 Implications... Page 15 ... for researchers A comprehensive research model on management by trust in the insurance industry must consider different levels of trust: internal culture of trust, reputational trust, experience-based trust Open and clear communication among other factors has a great impact on internal and external trust relations Implications are limited: Case in the Dutch insurance industry ... for managers Trustworthy relationships sustainably enhance the companys success and lowers costs of control Insurance companies should not only care about trustworthy shareholder relationships but also cultivate an internal culture of trust and foster trustworthy relationships with clients 息 I.VW-HSG
  • 16. MBA FSI Module 1 Interpolis Case Nov. 9, 2012 Debriefing: Learnings from the Interpolis case Page 16 When you think back to yesterdays visit... Why did Interpolis embark on this change journey? What operating model does Interpolis basically pursue (OpEx, customer intimacy, product leadership)? Why? Which are the success factors of the Interpolis story? Which aspects of the Interpolis case would you like to translate to your organisation? What could enable the success of such a transfer? 息 I.VW-HSG
  • 17. MBA FSI Module 1 Interpolis Case Nov. 9, 2012 Page 17 Thank you for your attention! Questions? 息 I.VW-HSG