Project Challenge: How can we create strategies to prepare for future disruptions to the travel insurance industry?
In the last three years the travel insurance industry has faced numerous challenges, due to Climate Change and Pandemics, from COVID-19 and its variants to weather-related disruptions at the end of 2022 and beginning of 2023. This has resulted in uncertainty and variability in the interactions of travel insurers with customers and business partners.
In times of emergency, the industry has struggled to effectively respond to the large volume of calls and cases from customers, with some calls requiring immediate attention while others could have been addressed through improved communication.
To address these challenges and mitigate the impacts of climate change, it is essential for the travel insurance industry to develop innovative and sustainable solutions. Due to climate change, unforeseeable disruptions will be more frequent and require for scaling customer-facing and interactive support to mid-to-low level issues, while also ensuring that service teams are available for urgent assistance during a customer’s time of need.
During this co-creation sprint, in partnership with The Travel Health Insurance Association of Canada (www.thiaonline.com) we bring Cookhouse Labs and THIA members together, to ideate solutions to tackle the challenges of managing surge capacity, then co-create a concrete solution concept using a customer-centric approach.
This sprint starts with a better understanding of the actual challenge from invited experts to share their knowledge, customer interviews and reasearch to gather valuableinsights.
Each innovation project will begin by establishing a Lean Startup mindset, followed by the phases of Design Thinking as supported by a variety of tools. The ultimate goal is to create a Minimum Viable Product (MVP), supported by an appropriate business case.
At the end of the sprint, participating organizations have a concrete outcome: a Minimum Viable Product (MVP)/solution blueprint or concept that each participating organization can use, along with their newly acquired expertise in innovation!
Some of the questions we are looking into are:
- Where are companies most heavily impacted by industry changes?
- Which trends can be identified from industry-wide experiences?
- What parts of our business are most at risk in the event of future disruptive forces?
- How can we leverage existing resources such as data and technology to create scalable propositions?
- What can we learn from other industries and regions?
This innovation sprint will be supported by innovation facilitators, UX/UI designers, technical and subject matter experts from Cookhouse Labs.
In this two and a half day Open Innovation sprint we will collaborate and run through a series of lean startup and design thinking exercises to ideate and create a solution concept to manage surge capacity in travel insurance while focusing on the customer experience. This short project will finish with a final presentation to key stakeholders of the participating organizations.
Virtual Intro Session: October 23, 2023 from 3.00pm to 4.30pm (EST)
Sprint Days: October 24 – 25, 2023 from 9.30am – 4.30pm
Final Presentation: October 26, 2023 from 9.30am to 12.00pm (EST)
This is an OPEN INNOVATION SPRINT at Cookhouse Labs Toronto, Canada in partnership with Travel Health Insurance Association of Canada (THIA). Organizations may send two participant each. Space is limited to 10 participants so make sure to RSVP soon to secure your place!
Want to register?
• Open Innovation project
• Project team will consist of participants from different organizations
SPRINT: 2.5 days
START: October 24, 2023
END: October 26, 2023
APPLY by: October 10, 2023
WHO SHOULD ATTEND
• Product Owners
• Customer Service
• Finance / Accounting
• Free for Cookhouse Labs members and up to 10 members of THIA
• Non-members please contact Cookhouse Labs