Swiss Re wanted to solve 8 acute business obstacles primarily in the property & casualty and life & health sectors. At the same time, Swiss Re also wanted their management and employees to play an active role in the open innovation process in order to optimize its success.
The solutions were to be identified in a 4 day timeframe, in parallel with the team’s introduction to an entirely new process. SOSA developed a unique 4 day innovation program tailored to Swiss Re’s business challenges. We presented Swiss Re with 47 of the most accurate technological solutions from a wide-range of industries. From these, 27 technologies were selected to be presented in face-to-face meetings with the Swiss Re teams over the 4 day bootcamp at the Ace Hotel in New York City on March 25th-29th, 2018.
80 Swiss Re employees from different departments participated in the bootcamp and were strategically grouped into 8 teams to tackle each of the business cases at hand. The bootcamp programming included deep dive sessions with the leading tech companies, design thinking workshops, and industry expert speed dating.
“SOSA truly understands our innovation requirements and knows how to deliver solutions, no matter how complex the challenge or how quickly we need it. We have someone we can speak with at SOSA at all times.”
Over 40% of the technological solutions presented by SOSA were found relevant by Swiss Re to be incorporated into business plans that tackle their pressing challenges.
The 4 day employee bootcamp model proved to be a success, and was recreated in 4 different cities worldwide, integrating over 180 Swiss Re executives and managers in the open innovation process.
“The emphasis on accelerating the corporate innovation cycle is what stands out in this unique program. Rather than focusing on the acceleration of specific technologies, the focus is on accelerating the process itself and making it a symbiotic one so that ultimately more technologies can be implemented faster.”