Should culture be a key growth driver in insurance?

Zurich Insurance’s global entity disinvested in the South African and African (Botswana) subsidiary in 2016 with the process being finalised towards the end of 2016. Subsequently, Zurich South Africa was acquired by Fairfax Holding Company as a subsidiary and undertook a re-branding process, resulting in the new entity being named Bryte.

The new self-managing model with Fairfax Holdings provides the business with an opportunity to bring the best of the past while shaping what the future view of this company could be. This is an opportunity for Bryte, to take control of their culture, processes and the way they impact customers, but also to make some of the vital changes needed to get them to their goal of R1 billion profit in 2025.

Our task

Organisational change is a process and one that requires commitment and consistency in applying new ways of working and behaving. It is not an overnight process and requires commitment from multiple levels within the organisation on this journey.

We were tasked with assessing the organisational capability towards achieving change and alignment with the Fairfax guiding principles as the end goal. The final recommendations would serve as a roadmap for change, which would be supported through various Bryte initiatives already in place.

What we did:

  1. Cultural quantitative and qualitative survey that was conducted across all BU’s. In total 800 employees were targeted with an over 70% participation rate. We approached this process of change in a different way and not as a survey, but rather a humanistic approach to obtaining real information.
  2. The insights gathered from the survey formed key imperatives (areas of focus that are change driven, focusing on key elements that display how Bryte works).

For a more detailed case study and presentation on the approach taken for Bryte Insurance Company please get in touch.

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