CBL Insurance Ltd [CBL] purchased European Services Insurance Ltd [EISL] – a London-based insurance intermediary company with about 70 staff – as part of establishing their global footprint, to lock in distribution, and to provide consistent products and services to its international customers.
EISL had been owner-operated by a small group of partners. CBL needed to embed the company culture and values of CBL within EISL and to reinforce the newly appointed CEO’s commitment to the growth and development of EISL in the French market.
As part of the alignment process, CBL wanted every EISL staff member (most of whom were French), to have external one-on-one coaching sessions. These would enable them to reflect on the new ownership structure and agree on action plans to fully support the new owners and the new CEO.
We used a 360 facilitated feedback coaching approach to enrol all the EISL staff on an individual level to the CBL values and related behaviours. We created action plans so they could support their new CEO and understand their new performance targets.
We also set up regular feedback and coaching sessions with the new CEO to ensure his successful transition into the role. He needed support to set and monitor the goals and strategies to progress EISL as he undertook new initiatives, implemented new structures and managed the cultural transition of EISL.
Our associate had worked with CBL in New Zealand, so at their request he visited EISL in the UK on several occasions to facilitate 360 feedback and coaching. Between the face-to-face sessions, other coaching was done via Skype and email.
Individuals responded very well to their 360s, made relevant adjustments to their behaviour and valued the one-on-one time to talk through their individual responses to all the changes happening at EISL.
- The CEO is more visible, transparent and sharing with the staff members.
- Communication has improved significantly – people report they know a lot more about what is happening at all levels of the organisation.
- There is a strong sense that EISL is changing from its “founder-led” culture, and that the company is changing operationally – more focus on measurement, consistency, efficiency improvement, systems and procedures.
“EISL was awarded “Employer of the Year” in 2014 at the Kent Regional Business Excellence Awards which is a testament to the culture and values instilled and embraced by EISL and its management and staff,” said Peter Harris, Managing Director of CBL Insurance, “and a large part of that can be attributed to the one-on-one work we did with The Learning Wave”.
“With the emphasis that the CBL Insurance Group places on its culture and values, the Learning Wave has worked with CBL to turn this culture into a competitive edge to CBL’s business to become one of New Zealand’s significant exporter of financial services.”
Peter A Harris
CBL Insurance Limited