Simon Torrance

Senior Independent Advisor

Location
United Kingdom
Area of Expertise
Computing, Leadership, Innovation, Transformation, Economies, Exponential Thinking, Fintech
Type
Expert

Simon is a senior independent advisor to Boards and Leadership Teams on business model transformation, platform strategy and digital ventures. He works across multiple sectors and geographies, helping to define and execute breakthrough new growth opportunities for incumbent organisations. Simon is a member of the World Economic Forum's 'Digital Platforms & Ecosystems' executive working group, co-founder and Chair of the world's biggest event on platforms, the Platform Economy Summit, author and presenter of the New Growth Playbook (www.newgrowthplaybook.com) and co-author of a new book, 'FIGHTBACK - how to win in the digital economy with platforms, ventures and entrepreneurs'.

Sessions

Digital Platforms & Ecosystems

Digital Platforms & Ecosystems: – how to harness the world’s most powerful business model99% of companies operate a linear business model: they create a product or service and sell it to customers. Digital platforms serve markets by connecting buyers and sellers of products, services, content or knowledge and orchestrate a self-reinforcing ecosystem around them. The most valuable companies in the world - such as Apple, Amazon, Microsoft, Google, Facebook, Alibaba, Tencent, WeChat - combine these approaches. This session will help ambitious leaders and innovators understand how to incorporate the power of platform and ecosystem thinking into their organisations to drive new growth and value.

Based on over 15 years of research and practical implementation, this session will share the key principles of how to apply and incorporate this powerful business model. It will provide the most useful conceptual frameworks, case studies and practical steps to take, following the author’s R.E.N.E.W. principle of business model innovation.

The session is for ambitious leaders and their teams looking for new ways to improve the fundamental economics of their business model.

Corporate Venture Building

Corporate Venture Building – how to drive high impact, breakthrough innovation Incumbent organisations find it very hard to innovate effectively. Since so much value is wrapped up in executing against the existing business model exploring and exploiting new, adjacent growth opportunities is rarely successful. Yet creating new businesses to complement and supplement the traditional core business is critical to the success of any organisation. Doing so fast and effectively is even more important in a hyper-connected world. The biggest danger for an incumbent is less from start-ups and more from their direct rivals creating a portfolio of new businesses at scale. In this session we will describe the commercial rationale for corporate venture building, share examples of best and worst practices from around the world, and provide the key structures, methods and processes needed to do it well. In particular we will explain how organisational set up and governance is key to balance the tensions between ‘optimise the core’ and ‘fast-track the new’ in any traditional organisation. This session is for a.) Executive Leaders who are dis-satisfied with the performance and ROI of their current innovation strategy and activity, b.) Innovation leaders frustrated at the inability to drive breakthrough innovation through their organisation.

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Embedded Finance & Insurance

Embedded Finance & Insurance – A new route to new growth and value.

Financial services - payments, credit, and insurance - are critical enablers of economic innovation. Up until now they have been created, sold and managed only by financial institutions. Due to the rapid digitalisation of the financial services industry and modularisation of its capabilities, Embedded Finance & Insurance enables any non-financial organisation to cost-effectively design and incorporate financial solutions into their own propositions to solve the unmet needs of their customers.

Retailers, airlines, auto manufacturers, telcos have for a long time re-sold third party financial services. But now any company, big and small, in any sector can do so much more effectively.

For Financial institutions, Embedded Finance & Insurance opens up new sales opportunities. In insurance alone it creates the opportunity to close huge and growing ‘protection gaps’, in so doing, create new growth for the industry.

This session will share latest forecasts about the potential size of the market and the value it can bring to all stakeholders: consumers, FS companies, brands. It will share the most compelling case studies from around the world, and describe future use cases. Finally, it will help participants understand strategic and tactical options and key do’s and don’t’s of a successful Embedded Finance & Insurance program.

This session is for

a.) Financial Service leaders looking for new ways to grow and new distribution partners,

b.) for leaders of brands (big and small, all sectors) interested in how to leverage financial services to drive new revenues, increase customer loyalty, improve overall business models.

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Simon Torrance

Sessions

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Simon Torrance

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