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Suren Gupta
- 1. Driving and Transformingthe Business Suren Gupta Executive Vice President Technology and Operations The CIO Event Chicago October 15, 2014
- 2. Allstate Corporation AtA Glance 2
- 3. What do theBoard and the CEO Want? Business growth World-class IT efficiency 24/7 cybersecurity Value creation through digital Innovation 3
- 4. 4 A momentof opportunity for the CIO CIOs are at the table Pace of tech growth Rising consumer demand Explosion in data Speed of market creation Severity of cyber attacks
- 5. CEOs are bringingCIOs to the table 41% of CIOs report to the CEO 5 CEOs say who is most responsible for digital innovation Source: Gartner April 2014 survey of CEOs 1.Chief Information Officer 2.Chief Marketing Officer 3.Business Unit Leader 4.Chief Operating Officer 5.Chief Digital Officer 6.Chief Strategy Officer
- 6. 6 Predictive selling Context based engagement More accurate consumer demand Five forces that will change the pace of growth Big Data Public Cloud Computing Social, Local, Mobile Cognitive Computing Internet of Things Reduce cost of operations Paperless processing Always available, anywhere Social context marketing Localized context relevant information Mobile based instant access to information Artificial intelligence based engines Call center assistants Real time risk and advice Universally connected Connected home, car, communities Enable real time analytics
- 7. 7 Rising consumer demand for digital
- 8. Explosion in DataEvery Minute of the Day Receives over 4 million search inquiries Users share 2.5 million pieces of content Users tweet 277,000 times Users upload 72 hours of new video Users post 26,380 reviews 8 Source: Domo, “Data Never Sleeps 2.0”
- 9. 9 30 yearsto develop a market 100 years ago 20 years to develop a market 50 years ago <5 years to develop a market today SPEED OF MARKET CREATION
- 10. 10 Severity ofcyber attacks is back on the rise 157 321 446 656 498 662 419 470 614 579 (YTD) 67 19 128 36 223 16 23 18 92 77* (YTD) 0 50 100 150 200 250 0 100 200 300 400 500 600 700 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Data Breaches Records Exposed (millions) YTD # of Breaches Records Exposed (millions) *JP Morgan has yet to report the number of individual records exposed in its 2014 breach, only households impacted (76 million). That number may more than double the YTD count of 77 million records exposed. Source: Identity Theft Resource Center 10
- 11. 11 21% ofAmericans have "a lot of trust" in companies to keep their personal information secure Source: Gallup Consumer trust needs improvement
- 12. 12 The CIO’spath forward
- 13. The CIO’s roadmapfor driving business value Execute at a world-class level Organize to drive growth in the businesses Drive value with digital innovation 13 Protect customer data and the company
- 14. 14 Protect customerdata and the company Elevate cybersecurity to a board-level matter Upgrade Security Operations and processes Hire outside security consultants Increase information security staff
- 15. 15 GLOBALIZE OPERATIONS SIMPLIFY SYSTEMS & PROCESSES AUTOMATE PROCESSES Execute at a world-class level
- 16. Business Unit BusinessUnit Business Unit Organize IT to drive growth in the business 16 Group CIO Group CIO Group CIO Group CIO Testing and Quality Infrastructure Services Information Security Delivery and Risk Management Architecture Etc… Business Unit
- 17. 17 Data Analysis Delivery Robust Infrastructure Analytics Seamless Customer Experience 17 Drive value with digital innovation
- 18. 18 FORMALIZE INNOVATION 1* 1.7 Product/service launches 10 Product/service ideas budgeted 300 Formalized product/service ideas 3,000 Ideas for new products/services 125 Ideas in small experimentation *Source: The Wall Street Journal, 8/28/2013 “How an Endangered Google Policy Got Results” profitable product/service
- 19. Companies with formalinnovation programs report better outcomes 19 more likely to define their innovation strategy as delivering a competitive advantage 50% more likely to say they will transform their business in the next 3-5 years with innovation 100% more likely to indicate their organization’s strategy is dependent on innovation for its long term success 138% more likely to indicate that they are typically first to market with new products or services 20% Source: Accenture 2013 survey, “Why Low-Risk Innovation is Costly” Compared to companies without formal, enterprise-wide innovation programs, companies that have them are …
- 20. 20 How we’redriving innovation at Allstate
- 21. 21 Mobile Auto Insurance Claims
- 22. 22 1st majorinsurer to market with a mobile smartphone telematics app in support of families and teen driver safety DRIVEWISE MOBILE & STAR DRIVER APPS Teen Safety
- 23. Esurance Web app predicts local fuel prices
- 24.
- 25. Driving and Transformingthe Business Suren Gupta Executive Vice President Technology and Operations The CIO Event Chicago October 15, 2014