Nilf2012_ Co Innovating with the IT Provider_ Piyush Singh- Sr. VP and CIO- Great American Insurance
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Page 1February 2012 NASSCOM
Co-Innovating with the IT Provider
“The nature of innovation – the inherent definition of innovation – has changed today from what it was in the past. It’s no longer individuals toiling in the laboratory, coming up
with some great invention. It’s not an individual. It’s individuals. Its multidisciplinary. It’s global. Its collaborative”
Sam Palmisano, Chairman, President and CEO, IBM
Piyush Singh
Sr. VP and CIO
Great American Insurance
Page 2February 2012 NASSCOM
Models of Innovation
• Business Model Innovation• Operations Innovation• Products/Services/Markets Innovation
Page 3February 2012 NASSCOM
Sources of Innovation Ideas
Figure 9. Most significant sources of innovative ideas (Per cent of respondents) Employees Business partners Customers Consultants Competitors Associations, trade shows, conference boards Internal sales and service units Internal R&D Academia 0 10 20 30 40 Note: Respondents could select up to three choices
Page 4February 2012 NASSCOM
Evolution and Current State of the Industry
• Evolution– The Initial years– Explosions
• Y2K explosion• BPO explosion• Remote Infrastructure explosion
– Co-development and App. Maintenance• Usage pattern
– Traditional Outsourcers: Tier 1, Tier 2, Tier n
– Global IT Giants: Big Names, Small names– Fortune 1000 Corporations: Off-shore set-ups, Joint
Ventures, Build-To-Operate, Using Outsourcers
Page 5February 2012 NASSCOM
Some Examples
• EXL - Tax Return Tracking for F&A Clients– In partnership with one of our top clients, EXL developed a tax tracking tool to identify and
categorize exceptions, which is now a standard part of EXL’s tax offering.
• HCL - Eli Lilly: Co-Innovation Lab, Singapore– For developing technologies and improving operational efficiencies to enhance Eli Lilly’s
global competitiveness
• L&T - Disruptive innovation– A remote Telehealth solution, leveraging portable devices, mobile and gesture based
interfacing, with a leading Health insurance and service provider in USA
• Majesco – Product Innovation– New software product streams incorporating end-to-end integration in an otherwise silo
industry of Insurance.
• Polaris – Core Banking Solution– Shortest go to market strategy – “Last Mile Delivered first” (in 6 Weeks -Anywhere, Anytime
Balance Sheet) - 100 million + transactions per day, 4400 Currency chests , 1100 Clearing Houses, 30,000+ Staff
Page 6February 2012 NASSCOM
Some guiding principles
• “Constant reinvention is the central necessity at GE .. We’re all just a moment away from commodity hell.”
– Jeff Immelt, Chairman and CEO
• Everyone should be dissatisfied with the present situation… That’s what needs to be recognized by every individual. When you’re growing, you’re satisfied with the status quo, and that’s no good.”
– Katsuaki Watanabe, President, Toyota
• “The world is changing very fast. Big will not beat small anymore. It will be the fast beating the slow.”
– Rupert Murdoch, Chairman and CEO, News Corporation
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