In this episode of Inside the Strategy Room, Roger Crandall, chairman, president, and CEO of MassMutual, speaks with Pradip Patiath, a leader in McKinsey’s digital financial services practice, about embracing the disruption that’s transforming the insurance industry. Roger reflects on the changes in the industry, the risk environment, and the CEO role. 



Follow McKinsey's Strategy and Corporate and Finance practice on LinkedIn: 
https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance 


Explore more Inside the Strategy Room podcast episode transcripts: https://www.mckinsey.com/itsr

In this episode of Inside the Strategy Room, Roger Crandall, chairman, president, and CEO of MassMutual, speaks with Pradip Patiath, a leader in McKinsey’s digital financial services practice, about embracing the disruption that’s transforming the insurance industry. Roger reflects on the changes in the industry, the risk environment, and the CEO role. 

Follow McKinsey's Strategy and Corporate and Finance practice on LinkedIn: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance 

 Explore more Inside the Strategy Room podcast episode transcripts: https://www.mckinsey.com/itsr

We talk with McKinsey partners and corporate executives on the challenges they face creating lasting strategies in a fast-changing world. We also examine the different ways these executives approach these challenges and the new and innovative ways they think of creating a vision for their enterprises.

What does it take to survive in a world of constant change? More than ever, enterprises need to create strategies that can meet current needs but also adapt to future demand. A regular series of interviews with McKinsey partners and corporate executives.

Inside the Strategy Room

We all know the world is moving faster. We also know that as upheaval becomes the norm, vast business opportunities will be within the grasp of the extraordinary few.  But it takes bold people and courageous approaches to seize those opportunities and create value.

In each episode of our weekly podcast, we sit down with the world’s highest-performing CEOs, CFOs, innovators, and McKinsey experts and discuss how they build the courage, clarity, conviction, and cohesion that allows their businesses to win by moving faster than the world around them. 

We all know the world is moving faster. We also know that as upheaval becomes the norm, vast business opportunities will be within the grasp of the extraordinary few.  But it takes bold people and courageous approaches to seize those opportunities and create value.
In each episode of our weekly podcast, we sit down with the world’s highest-performing CEOs, CFOs, innovators, and McKinsey experts and discuss how they build the courage, clarity, conviction, and cohesion that allows their businesses to win by moving faster than the world around them.

The long-time CEO of the US insurer reflects on the changes in the industry, the risk environment, and the CEO role.

121. MassMutual’s Roger Crandall on disrupting your own industry

Senior partners Alex D’Amico, Michael Birshan, and Andy West join us for a conversation about the latest developments in the field of strategy. They discuss how generative AI will change strategy creation, the importance of developing distinctive insights as part of the strategy process, and how to avoid social dynamics from derailing your organization’s best-laid plans.

Related insights:
Strategic courage in an age of volatility
Tying short-term decisions to long-term strategy
Strategy Beyond the Hockey Stick
Eight shifts that will take your strategy into high gear
The social side of strategy
The board’s role in strategy

Senior partners <a href="https://www.mckinsey.com/our-people/alex-damico">Alex D’Amico</a>, <a href="https://www.mckinsey.com/our-people/michael-birshan">Michael Birshan</a>, and <a href="https://www.mckinsey.com/our-people/andy-west">Andy West</a> join us for a conversation about the latest developments in the field of strategy. They discuss how generative AI will change strategy creation, the importance of developing distinctive insights as part of the strategy process, and how to avoid social dynamics from derailing your organization’s best-laid plans.
<hr>
Related insights:
<ul>
<li><a href="https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/strategic-courage-in-an-age-of-volatility">Strategic courage in an age of volatility</a></li>
<li><a href="https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/tying-short-term-decisions-to-long-term-strategy">Tying short-term decisions to long-term strategy</a></li>
<li><a href="https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/strategy-beyond-the-hockey-stick">Strategy Beyond the Hockey Stick</a></li>
<li><a href="https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/eight-shifts-that-will-take-your-strategy-into-high-gear">Eight shifts that will take your strategy into high gear</a></li>
<li><a href="https://www.youtube.com/watch?v=srFWdifYv3s">The social side of strategy</a></li>
<li><a href="https://hbr.org/2018/12/the-boards-role-in-strategy">The board’s role in strategy</a></li>
</ul>

232. Best of 2024 - What’s new in strategy: A view from the frontlines

We're joined by Charles Conn and Rob McLean, AM, the co-authors of The Imperfectionists: Strategic Mindsets for Uncertain Times. 

Charles is an investor, environmentalist, and entrepreneur. He co-founded Monograph, a venture firm, and was previously CEO of the Rhodes Trust in Oxford. He is the Board Chair of Patagonia and sits on The Nature Conservancy European Council. He was the founding CEO of Ticketmaster-Citysearch and a partner at McKinsey & Company. 

Rob is a Director Emeritus of McKinsey & Company, a Trustee of The Nature Conservancy in Australia and Asia, and a Director of the Paul Ramsay Foundation, Australia’s largest philanthropic foundation. He is the former Dean of the Australian Graduate School of Management. He was a Fulbright Scholar at the Columbia University Graduate School of Business.

Rob and Charles' books can be found here: https://bulletproofproblemsolving.com/

You can also listen to their previous interview on Inside the Strategy Room or read the edited transcript on McKinsey.com. 

 

We're joined by Charles Conn and Rob McLean, AM, the co-authors of <a href="The%20Imperfectionists:%20Strategic%20Mindsets%20for%20Uncertain%20Times">The Imperfectionists: Strategic Mindsets for Uncertain Times</a>. Charles is an investor, environmentalist, and entrepreneur. He co-founded Monograph, a venture firm, and was previously CEO of the Rhodes Trust in Oxford. He is the Board Chair of Patagonia and sits on The Nature Conservancy European Council. He was the founding CEO of Ticketmaster-Citysearch and a partner at McKinsey &amp; Company.&nbsp; Rob is a Director Emeritus of McKinsey &amp; Company, a Trustee of The Nature Conservancy in Australia and Asia, and a Director of the Paul Ramsay Foundation, Australia&rsquo;s largest philanthropic foundation. He is the former Dean of the Australian Graduate School of Management. He was a Fulbright Scholar at the Columbia University Graduate School of Business.
Rob and Charles' books can be found here: <a href="https://bulletproofproblemsolving.com/">https://bulletproofproblemsolving.com/</a>
You can also listen to <a href="https://link.chtbl.com/x8aOezMq">their previous interview on Inside the Strategy Room</a> or read the <a href="https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/want-better-strategies-become-a-bulletproof-problem-solver">edited transcript</a>&nbsp;on McKinsey.com.&nbsp;
<hr>
&nbsp;

231. Best of 2024 - Why strategists should embrace imperfection

Corporate boards face increased complexity today, with heightened geopolitical risk key among the concerns they must consider as they guide the companies they serve. In this episode, three experts on boards and geopolitics discuss how boards can best adapt to this new normal. Dominic Barton is board chair for the metals and mining company Rio Tinto, and also for the impact investment firm Leapfrog investments. He's also a senior advisor and partner at the AI investment firm Radical Ventures. Previously, Dom served as Canada’s ambassador to China. And before that he was a McKinsey senior partner who served as our global managing partner for three terms. Frithjof Lund is a senior partner who leads our Board Services Practice as well as our Norway office. He helps boards of directors improve corporate governance. Ziad Haider is a partner and our global director of geopolitical risk. He is based in our Singapore office, and counsels CXOs and boards on how to build out their capabilities to better understand, monitor, and mitigate geopolitical risk.

Related insights

Eye in the sky: Launching a geopolitical risk unit

Building geopolitical resilience: The people agenda

Geopolitical risk: Navigating a world in flux

Helping boards manage geopolitical risk with Jon Huntsman Jr.

How global companies can manage geopolitical risk

How three global companies navigate geopolitical risk to build resilience

Can your company remain global and if so, how?

Black swans, gray rhinos, and silver linings: Anticipating geopolitical risks (and openings)

McKinsey Strategy & Corporate Finance on LinkedIn

McKinsey Geopolitics

Corporate boards face increased complexity today, with heightened geopolitical risk key among the concerns they must consider as they guide the companies they serve.&nbsp;In this episode, three experts on boards and geopolitics discuss how boards can best adapt to this new normal.&nbsp;<a href="https://www.riotinto.com/en/about/board-of-directors/dominic-barton">Dominic Barton</a> is board chair for the metals and mining company Rio Tinto, and also for the impact investment firm Leapfrog investments. He's also a senior advisor and partner at the AI investment firm Radical Ventures. Previously, Dom served as Canada&rsquo;s ambassador to China. And before that he was a McKinsey senior partner who served as our global managing partner for three terms. <a href="https://www.mckinsey.com/our-people/frithjof-lund">Frithjof Lund </a>is a senior partner who leads our Board Services Practice as well as our Norway office. He helps boards of directors improve corporate governance. <a href="https://www.mckinsey.com/our-people/ziad-haider">Ziad Haider</a> is a partner and our global director of geopolitical risk. He is based in our Singapore office, and counsels CXOs and boards on how to build out their capabilities to better understand, monitor, and mitigate geopolitical risk. 
Related insights
<a href="https://www.mckinsey.com/capabilities/risk-and-resilience/our-insights/eye-in-the-sky-launching-a-geopolitical-risk-unit">Eye in the sky: Launching a geopolitical risk unit</a>
<a href="https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/building-geopolitical-resilience-the-people-agenda">Building geopolitical resilience: The people agenda</a>
<a href="https://www.mckinsey.com/capabilities/risk-and-resilience/our-insights/geopolitical-risk-navigating-a-world-in-flux">Geopolitical risk: Navigating a world in flux</a>
<a href="https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/helping-boards-manage-geopolitical-risk-with-jon-huntsman-jr">Helping boards manage geopolitical risk with Jon Huntsman Jr.</a>
<a href="https://www.mckinsey.com/capabilities/risk-and-resilience/our-insights/how-global-companies-can-manage-geopolitical-risk">How global companies can manage geopolitical risk</a>
<a href="https://www.mckinsey.com/capabilities/risk-and-resilience/our-insights/how-three-global-companies-navigate-geopolitical-risk-to-build-resilience">How three global companies navigate geopolitical risk to build resilience</a>
<a href="https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/can-your-company-remain-global-and-if-so-how">Can your company remain global and if so, how?</a>
<a href="https://www.mckinsey.com/capabilities/risk-and-resilience/our-insights/black-swans-gray-rhinos-and-silver-linings-anticipating-geopolitical-risks-and-openings">Black swans, gray rhinos, and silver linings: Anticipating geopolitical risks (and openings)</a>
<a href="https://www.linkedin.com/showcase/mckinsey-strategy-&amp;-corporate-finance/">McKinsey Strategy &amp; Corporate Finance on LinkedIn</a>
<a href="https://www.mckinsey.com/capabilities/geopolitics/our-insights">McKinsey Geopolitics</a><a></a>

121. MassMutual’s Roger Crandall on disrupting your own industry

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