Building a Technology-Enabled Foundation with Jeff Hughes, Chief Technology Officer at Brighthouse Financial
Release Date: 07/12/2023
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Host Anthony O'Donnell welcomes back , Director of Life Products, and , Director of Partner Management at TruStage Insurance to share the remarkable journey of TruStage’s digital transformation, which has not only redefined their brand but also set new benchmarks in the insurance industry. Kevin and Nick take us through the evolution of TruStage, from its roots as CUNA Mutual Group, primarily serving credit unions, to its current position as a major player in the direct-to-consumer insurance market. They discuss the strategic rebranding of TruStage and how it has unified its offerings under...
info_outlineSpecial guest, Jeff Hughes, the Chief Technology Officer of Brighthouse Financial, takes us on a journey through the past five years of his professional life, where he played a pivotal role in successfully transitioning Brighthouse Financial to a new foundation. With over 200 transition services agreements and 100 programs and initiatives to navigate, Jeff and his team faced numerous challenges, but ultimately emerged victorious in their quest.
On this episode of Life Accelerated, Jeff Hughes shares about the company's successful transition to a new foundation that involved exiting hundreds of agreements and initiatives. Jeff emphasizes the importance of a modern ecosystem in technology, particularly in terms of shifting from Capex to Opex in the transformation to SaaS and cloud technologies and how Brighthouse pursued this path and completed the transition to a 100% cloud-based and 90% software as a service environment. The company wants to be a best in cost company and heavily leverages third parties for technology-enabled business functions rather than outsourcing existing jobs.
Key Takeaways
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Adaptability and strategic planning is key. This highlights the importance of adaptability and strategic planning during major transitions.
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Focus on driving growth and improving the advisor experience. This emphasizes the significance of customer-centricity and innovation in staying competitive in the industry.
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Build a technology-enabled foundation. This showcases the importance of modern technology infrastructure and the strategic use of resources to enable cost-effectiveness and flexibility.
Timestamps
[00:00 - 06:10] Introduction to Jeff Hughes and Brighthouse Financial
[06:10 - 08:26] What Jeff has been hired to accomplish at a strategic level
[08:26 - 10:27] Brighthouse Financial’s transition approach and how it differs from others
[10:27 - 12:39] Critical decisions Brighthouse Financial made in 2017 for digital transformation
[12:39 - 15:37] The principals that Jeff and Brighthouse Financial created when given the warrant to create new systems
[15:37 - 17:55] The essential initiatives Brighthouse Financial developed to develop their own business ecosystem
[17:55 - 20:54] What Brighthouse Financial’s initiatives meant for digital transformation
[20:54 - 23:04] What Jeff and Brighthouse Financial’s three indispensable digital initiatives are
[23:04 - 25:47] How Jeff would describe his management style and how he attracts and retains top talent
[25:47 - 28:06] Areas where Jeff sees the controversial wisdom leading insurance
[28:06 - 29:43] Closing
Resources
Connect with Jeff on LinkedIn https://www.linkedin.com/in/jeffchughes/
Learn more about Brighthouse Financial https://www.brighthousefinancial.com/