Business transformation

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Alex Moral, Senior VP of Trustmark Voluntary Benefit Solutions. Business transformation. 100 Years of Experience. 1913:  Railroad workers taking care of each other 1929:  First non-railroad group 1990: Consolidated billing - PowerPoint PPT Presentation

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Business transformationAlex Moral, Senior VP of Trustmark Voluntary Benefit SolutionsGood morning. Welcome This morning I want to talk to you about the work weve been doing at VBS in TMK that will help set our direction for the future. Its called business transformation

2100 Years of Experience1913:Railroad workers taking care of each other1929:First non-railroad group1990: Consolidated billing1995-99:First VBS universal life withlong-term care policy & first lump-sumcancer policyPast, present & future: Personal | Flexible | TrustedAs youve already learned, TMK is 100 years old. In those 100 years, TMK has transformed itself multiple times in order to conform with the market. In those 100 years, TMK has been successful.3Trustmark Voluntary RevenueIn fact, in the last half decade, TMKs voluntary business has continued to grow profitably. So, why are we talking about transformation now?4Business TransformationIf it aint broke, dont fix it.- Widely attributed to T. Bert (Thomas Bertram) Lancethe Director of the Office of Management andbudget in Jimmy Carter's 1977 administrationAfter all, as the saying goes, Well, heres a big part of the reason why5The world keeps changing!Business transformation is a change management strategy to align the people, process and technology initiatives of a company more closely with its business strategy and vision.Source: RapidBI - Business & Organizational Development tools, training & services Human Resources, OD & Leadership

When I googled the term business transformation, this is what came up. Its about aligning people, process and technology/tools so as to maximize our ability to deliver on our mission. In other words, its focusing our resources toward a common mission.7Business Transformation

Just like any mission, it is a journey and thats why we have depicted business transformation within VBS as a row boat that requires all the oars (tactics) to propel us in the right direction.8

ToolsBusiness TransformationLets examine a little closer what this means. This means making sure the tools we employ are there to help us achieve our goal.9Business Transformation - ToolsMetricsGEAmex

Today, this means installing an new admin system to further enhance our reputation of having the best in class service. It certainly wasnt so that we can have a new shiny and very expensive new system. The new technology we started implementing will enhance our flexibility and capabilities as we move into the future. And just like some of the company names you may recognize on the screen, we will become more diligent with the use of metrics, not only to track how were doing but, more importantly, to provide us leading indicators to help us determine where we should be going next.10

ProcessBusiness TransformationWe also want to make sure our business processes are in line with what our objective is.11Business Transformation - ProcessProcess improvementVoice of the customerGEMotorolaAppleEnterprise

Process improvement is certainly nothing new. Leading companies have implemented six sigma programs to help tem succeed. In addition to improving our processes, the cornerstone of what were doing is making sure we obtain and understand the VoC. In our vernacular, the customer means, not only the employee & their dependents that pay us the premium or the employer who these employees work for, it also means you our broker and EF partners. Understanding your needs and ideas will be a big key to our future.12

PeopleBusiness TransformationAnd, last but certainly not least, are the people within VBS.13Business Transformation - PeopleWorkforce planningPeople equity survey and The Leadership ChallengeStarbucksAmerican Red CrossIntelJohnson & JohnsonJack-in-the-BoxThrough workforce planning and the Leadership Challenge programs, we will make sure that we, not only have the right number of people to continue to improve on our best in class service reputation, we want to make sure we have the right people working in our business. As I mentioned in last years conference, it requires the right DNA to work for voluntary at TMK. Thats something we are definitiely very committed to. We want to make sure that our employees understand and are committed to meeting our objective. That objective being 14

ImproveCustomer EngagementBusiness TransformationSo what does this mean all mean? I believe that the only way to grow is by doing right by our customers. I believe that when we by do the right thing for our customers, these customers will not only keep doing business with us but will tell their friends, family member and business associates about their experience working with TMK. Thats what I mean by customer engagement valuing their experience with TMK that they become our promoters.15What does this mean?Experience and learning from past 100 yearsStay true to our value propositionVoice of the customerAnd this is where you come in Using what we know and what weve learned from our 100 year history and staying true to our value proposition, the wisdom from your insight and engagement will help map out for both of us what our future will look like. In other words, we want our success to translate into your success too.16Trustmark value propositionBest-in-class serviceLong-term relationships based on bringing valueInnovative solutionsThats how our value proposition comes to life Your feedback regarding our service can only be best in class if you believe it is;Through collaboration, we will grow & prosper together. Thats the only relationship we believe actually works;Whether its a product, a value added benefit or a service, innovation only works if someone finds it beneficial.17Voice of the customerAs we talk to our other types of customers, Im certain we will learn much that we can use in developing our products and services. This is information that we can share with you to help you with your own business. That is just one way we believe we can bring value to a long relationship with you.We also ask that you share your insight with us. Wed be more than happy to discuss ideas with you. Also, tell us when we need to improve on something. That way, we can be aware of what we need to change. Heck, tell us when were doing something right. That way, we know what not to change. Our goal is to make you experience working with TMK as rewarding as possible. We certainly want you to engage with us.18