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

The world is moving faster, and 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 interview the world’s highest-performing CEOs, CFOs, innovators, and McKinsey experts and discuss how they build the courage, clarity, conviction, and cohesion that allow their businesses to win by moving faster than the world around them. 

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

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

Generative and agentic AI are moving rapidly from experimentation to enterprise-wide transformation—but many CEOs are still grappling with what this really means for their business.

In this episode, McKinsey experts Tanguy Catlin, Sandra Durth, Lari Hämäläinen, and Antoine Montard examine why AI is being viewed as a true general-purpose technology, on par with past breakthroughs like electricity and the internet, and what that implies for competition, investment, and long-term value creation. 

We discuss the importance of thinking across strategy, technology, and organization to maximize the value from AI—and why focusing on productivity alone may not be enough to win.

We also unpack the practical challenges leaders face and how to address them including redesigning workflows and operating models, managing large-scale workforce transitions, and building the skills and organizational capabilities needed to capture AI’s full potential.

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The agentic AI opportunity

Building the foundations for agentic AI at scale

Seizing the agentic AI advantage

A Century of Plenty

New MIT Sloan research suggests that AI is more likely to complement, not replace, human workers

Generative and agentic AI are moving rapidly from experimentation to enterprise-wide transformation&mdash;but many CEOs are still grappling with what this really means for their business.
In this episode, McKinsey experts <a href="https://www.mckinsey.com/our-people/tanguy-catlin">Tanguy Catlin</a>, <a href="https://www.mckinsey.com/our-people/sandra-durth">Sandra Durth</a>, <a href="https://www.mckinsey.com/our-people/lari-hamalainen">Lari H&auml;m&auml;l&auml;inen</a>, and <a href="https://www.linkedin.com/in/antoine-montard/">Antoine Montard</a> examine why AI is being viewed as a true general-purpose technology, on par with past breakthroughs like electricity and the internet, and what that implies for competition, investment, and long-term value creation.&nbsp; We discuss the importance of thinking across strategy, technology, and organization to maximize the value from AI&mdash;and why focusing on productivity alone may not be enough to win.
We also unpack the practical challenges leaders face and how to address them including redesigning workflows and operating models, managing large-scale workforce transitions, and building the skills and organizational capabilities needed to capture AI&rsquo;s full potential.
Related insights&nbsp; 
<a href="https://www.mckinsey.com/quarterly/the-five-fifty/five-fifty-the-agentic-ai-opportunity">The agentic AI opportunity</a>
<a href="https://www.mckinsey.com/capabilities/mckinsey-technology/our-insights/building-the-foundations-for-agentic-ai-at-scale">Building the foundations for agentic AI at scale</a>
<a href="https://www.mckinsey.com/capabilities/quantumblack/our-insights/seizing-the-agentic-ai-advantage">Seizing the agentic AI advantage</a>
<a href="https://www.mckinsey.com/mgi/our-research/a-century-of-plenty">A Century of Plenty</a>
<a href="https://mitsloan.mit.edu/press/new-mit-sloan-research-suggests-ai-more-likely-to-complement-not-replace-human-workers">New MIT Sloan research suggests that AI is more likely to complement, not replace, human workers</a>

300. The CEO’s agenda for thriving in the agentic age

For new CEOs, engaging stakeholders is one of the most important—and most challenging—parts of the job. In this episode, Carolyn Dewar, Blair Epstein, and Eric Sherman discuss how CEOs can build a strong stakeholder strategy from day one.

Drawing on research and their work with leaders across industries, they explore why stakeholder engagement matters so much, the unique challenges new CEOs face, and how leaders can best balance competing priorities across investors, employees, customers, regulators, and communities. They also discuss practical ways to create a clear narrative, strengthen communication, and build leverage through the top team.

Related insights 

Nail your firsts: A new CEO’s guide to stakeholder impact

How the best CEOs build lasting stakeholder relationships

Your best day won’t define you as CEO—your worst one will

A CEO For All Seasons: Mastering the Cycles of Leadership

CEO Excellence: The Six Mindsets That Distinguish the Best Leaders From the Rest

The Strategic CEO newsletter on LinkedIn

For new CEOs, engaging stakeholders is one of the most important&mdash;and most challenging&mdash;parts of the job. In this episode, <a href="https://www.mckinsey.com/our-people/carolyn-dewar">Carolyn Dewar</a>, <a href="https://www.mckinsey.com/our-people/blair-epstein">Blair Epstein</a>, and <a href="https://www.linkedin.com/in/eric-sherman-2aa66930/">Eric Sherman</a> discuss how CEOs can build a strong stakeholder strategy from day one.
Drawing on research and their work with leaders across industries, they explore why stakeholder engagement matters so much, the unique challenges new CEOs face, and how leaders can best balance competing priorities across investors, employees, customers, regulators, and communities. They also discuss practical ways to create a clear narrative, strengthen communication, and build leverage through the top team.
Related insights 
<a href="https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/nail-your-firsts-a-new-ceos-guide-to-stakeholder-impact">Nail your firsts: A new CEO&rsquo;s guide to stakeholder impact</a>
<a href="https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/how-the-best-ceos-build-lasting-stakeholder-relationships">How the best CEOs build lasting stakeholder relationships</a>
<a href="https://www.linkedin.com/pulse/your-best-day-wont-define-you-ceoyour-ndj7c/">Your best day won&rsquo;t define you as CEO&mdash;your worst one will</a>
<a href="https://www.mckinsey.com/featured-insights/mckinsey-on-books/ceo-for-all-seasons">A CEO For All Seasons: Mastering the Cycles of Leadership</a>
<a href="https://www.mckinsey.com/featured-insights/mckinsey-on-books/ceo-excellence">CEO Excellence: The Six Mindsets That Distinguish the Best Leaders From the Rest</a>
<a href="https://bit.ly/429GQgx">The Strategic CEO newsletter on LinkedIn</a>

299. The new CEO’s guide to stakeholder impact

Building resilience is a critical skill for organizations today, yet our research shows that many leaders and organizations don’t spend enough time building their resilience to navigate current and emerging risks. In this episode, two authors of a recent article on the topic discuss how organizations can better prepare for what they face today and in the future.

Ida Kristensen is a senior partner in our New York office and the global co-leader of our Risk and Resilience Practice. She advises clients across sectors on risk, strategy, and operational topics spanning enterprise risk management, resilience, organization and talent, cybersecurity, regulatory compliance, and operational improvement. And Linda Liu is a partner in our New York office and a leader in our Risk and Resilience Practice and our crisis response initiative. She works with global organizations on strategy, risk, operations, and organizational transformation.

Related insights

The CEO as chief resilience officer

Resilience pulse check: Harnessing collaboration to navigate a volatile world

High-performing teams: A timeless leadership topic

What resilience means to Nextdoor CEO Sarah Friar

McKinsey Risk & Resilience insights

McKinsey Risk and Resilience on LinkedIn

Building resilience is a critical skill for organizations today, yet our research shows that many leaders and organizations don&rsquo;t spend enough time building their resilience to navigate current and emerging risks. In this episode, two authors of a recent article on the topic discuss how organizations can better prepare for what they face today and in the future.
<a href="https://www.mckinsey.com/our-people/ida-kristensen">Ida Kristensen</a> is a senior partner in our New York office and the global co-leader of our Risk and Resilience Practice. She advises clients across sectors on risk, strategy, and operational topics spanning enterprise risk management, resilience, organization and talent, cybersecurity, regulatory compliance, and operational improvement. And <a href="https://www.mckinsey.com/our-people/linda-liu">Linda Liu</a> is a partner in our New York office and a leader in our Risk and Resilience Practice and our crisis response initiative. She works with global organizations on strategy, risk, operations, and organizational transformation.
Related insights
<a href="https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/the-ceo-as-chief-resilience-officer">The CEO as chief resilience officer</a>
<a href="https://www.mckinsey.com/capabilities/risk-and-resilience/our-insights/resilience-pulse-check-harnessing-collaboration-to-navigate-a-volatile-world">Resilience pulse check: Harnessing collaboration to navigate a volatile world</a>
<a href="https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/high-performing-teams-a-timeless-leadership-topic">High-performing teams: A timeless leadership topic</a>
<a href="https://www.mckinsey.com/capabilities/risk-and-resilience/our-insights/what-resilience-means-to-nextdoor-ceo-sarah-friar">What resilience means to Nextdoor CEO Sarah Friar</a>
<a href="https://www.mckinsey.com/capabilities/risk-and-resilience/our-insights">McKinsey Risk &amp; Resilience insights</a>
<a href="https://www.linkedin.com/showcase/mckinsey-risk-resilience/">McKinsey Risk and Resilience on LinkedIn</a>

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

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