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Loyalty & Rewards Project Progress (Week 1): Innovation Acceleration Through Diverse Collaboration

[fa icon="calendar"] Feb 13, 2017 5:39:11 PM / by Jason Yu, Innovation Chef

Jason Yu, Innovation Chef

Loyalty and Rewards Cookhouse Lab Progress Week 1 Banner 3.jpg

Cookhouse Lab kicked off our first Innovation Project a couple of weeks ago and it has been an amazing start! Our gourmet ingredients have been sourced from diverse countries such as Brazil, Germany, Australia and Canada, and we are well on our way towards creating a fantastic meal.  

Our first week started with defining what innovation means for project members versus what innovation means for the organization they represent. It was fascinating to see a range of perspectives, from executives who view organizational change as innovation, to technologists who view innovation as blockchain use cases. In my opinion, this was such an integral yet simple exercise, and one that all future project teams will partake in.  

After our first day, members no longer viewed themselves as part of separate organizations but rather collaborators of a new Cookhouse Lab team 

Loyalty and Rewards Cookhouse Lab Progress Week 1-1.jpgThe week continued with the Design Thinking methodology as we worked towards our weekly deliverable.  With a mixture of experience and global insight, it was captivating to see how quickly and thoroughly we were able to move through each phase and iterate along the way.   

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The objective of an insurance loyalty and rewards program is to creates a trusted relationship between the insured and the carrier. And that's why we decided to add a special ingredient to include Weekly Customer Touchpoint Days, which will give the team crucial consumer feedback every step along their journey towards the final Minimal Viable Product (MVP). 

Based on several Design Thinking tools and customer feedback, we created a brand-new "customer care" based digital experience for insurance companies to deliver loyalty and reward program, which is an opportunity that has been identified with insurance companies globally. 

What did I learn this first week? Diversity and co-creation dramatically increases the speed of innovation. 

"In Cookhouse Lab, we accomplished in one week what would have taken several weeks in my company!" - Felipe, Cookhouse Lab Member 

Our journey does not end here! Read the Week 2 recap of our Loyalty & Rewards project, focusing on balancing customer empathy and business value

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Topics: insurtech, innovation project progress

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