MBA Alumni Event with Morten Hübbe, CEO of Tryg
A leap of faith. That was the central theme of the presentation by Tryg CEO, Morten Hübbe when he visited the CBS MBA Alumni Society on 31 January 2019. The charismatic CEO gave an honest account of how he tackled the challenges facing the 300 year-old company: changing consumer behavior, disruptive technologies emerging in the market and a topline that was mainly growing through acquisitions. With challenges not unlike other very traditional and old-fashioned industries, these emerging changes were the foundation for some of the radical changes, he started implementing. “We needed to create a company that grows into the future,” Morten Hübbe said, “and I realized that if you’re not pushing the boundaries then you are a traditionalist, while someone else is getting ahead of you."
With an invitation going out to 300 start-ups to co-create ideas that could grow the company, he set off on a journey that would change the company dramatically. New business areas emerged as well as new organisational structures with flat, highly autonomous units, new approaches and transformation of budgeting processes and not least a new mindset among both the top management team and the organization. “Are we there yet and have the great big answer to innovation strategy?”, Morten Hübbe asked rhetorically and answered with a “definitely not! We are perhaps on a 4 out of 10 and most of the journey is still ahead of us, but we have grown our topline and are developing products and services that benefit our customers”.
Captivated by the interesting examples of products emerging from Tryg’s innovation efforts, the MBA alumni and students left the room inspired to go back to their companies and consider opportunities for truly investing in innovation and tackling challenges head on – and perhaps successfully taking part in creating a company that grows into the future.