From a plan on paper to a plan of action
03-01-2022 - When we announced the details of our new strategic plan Impact24, our first priority was to make sure the plan was well understood by those we work with, and those we work for. From there, the real work begins.
What did we learn in the lead up to launch?
As a co-creation with the business, Impact24 was supported by an internal sounding board of colleagues and subject matter experts who challenged and scrutinised the plan at every key stage. They were asked along the way if the plan was ambitious enough, realistic, achievable. And if it is reflective of emerging trends ensuring Ageas’s relevancy in the future. That feedback process will continue.
Over the last 6 months we have cascaded our plans down through the whole organisation. Feedback from our employees, on whom we rely to make this plan come to life was positive overall. They found the plan to be motivating, credible, ambitious, and outward-looking, which confirms we are on the right track with Impact24.
Our partners considered the plan to be clear and relevant for their local business. Pursuing new opportunities for growth in Health, Protection, Digital platforms, and Reinsurance resonated particularly well. Followed by our ambition to strengthen the Core and the emphasis Impact24 puts on sustainability and long-term thinking.
And finally, our investors whose trust in the plan is a critical condition to its success - responded well. For the market of course it is always about what you deliver, not what you say. In Impact24, we set a series of clear targets and KPI’s which will hold us accountable at every stage.
For our customers and society too, reactions are clearly dependent on the tangible benefit created and felt… and that is the challenge ahead!
Ready?… Set… Go!
As with any plan, it is the work done in preparation for a launch that is of critical importance. It is the moment that generic plans get specific and take hold on the ground. Not by copy-pasting the plan into good looking set of slides. But by designing business plans adapted to the local reality, appointing along the way local subject matter experts to help steer each element of the plan at the level of the Group. To help drive and accelerate implementation we created also the CDSO office which, in concert with the business, will ensure we deliver on our strategic choices.
On January 1 our plan officially kicked-off. Now it’s time to deliver!