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dmi: 2018 Design Value Award Winner
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dmi:Design Value Award Winner

 

 

 

SURA Innovation Team

SURA AM Mexico

 

The goal of this initiative was to establish SURA as the most innovative corporation in the asset management sector in Mexico. It started in 2017 as an effort from the human resources department as a mission to create an innovation culture in the company with impact at different levels of the organization. The whole strategy was built in collaboration with the c-suite, top management, and innovation champions.

Several key actions were taken in the initiative. The first was co-creating a proprietary Innovation Methodology. More than 50 employees collaborated on a methodology based on the company’s needs and taking into account the legal and regulatory requirements in Mexico. It was tested and improved through practical workshops that guided the employees through the methodology while using it to create innovative projects.

Secondly, SURA modeled its commitment to design, experimentation, and innovation by hosting a series of creative talks held within the company. The commitment to experimentation is taking hold. More than 13 employee-led projects are in the test or pilot phase as a result of the process. The company also launched their first annual Innovation Challenge. Participants use the Innovation Methodology to develop solutions related to new products, services or improvements. The best prototyped and validated ideas move to an execution phase after being tested with real users.

The team also developed an open innovation platform to collaborate with Mexican startups to develop new value propositions for customers. For the scouting phase, on-site launch parties were held in more than 10 cities across 4 Latin America countries. More than 80 startups/scaleups were selected to pitch their proposal to the SURA Innovation Committee. Winners continued through to the Acceleration Process. 6 out of 16 startups/scaleups made it to the final DemoDay, where they pitched their initiative to SURA’s C-suite/Executive Committee.6 startups in the program have the opportunity to develop a product or receive investment from SURA.

In addition, SURA has launched a certification program to train a group of 40 employees as official facilitators of the innovation and design tools contained in the methodology. All of them have expressed the impact that this knowledge has had on their professional and personal lives. The initiative is having a positive impact on an internal culture of collaboration too, transforming the way different departments interact and breaking down silos. By taking a holistic approach that transforms culture, empowers employees, and creates collaborations with startups. SURA has been able to catalyze innovation that meets the real needs and behaviors of SURA’s clients and will directly impact the way Mexican customers manage their assets.


 
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