Innovation Partnerships

This summer, in 45 days, I shopped in supermarkets in 12 different countries. I said "𝘨𝘳𝘰𝘤𝘦𝘳𝘺 𝘳𝘦𝘵𝘢𝘪𝘭𝘦𝘳𝘴 𝘢𝘳𝘦 𝘨𝘦𝘵𝘵𝘪𝘯𝘨 𝘤𝘶𝘴𝘵𝘰𝘮𝘦𝘳 𝘦𝘹𝘱𝘦𝘳𝘪𝘦𝘯𝘤𝘦 𝘢𝘭𝘭 𝘸𝘳𝘰𝘯𝘨". Now this article from MIT Sloan Management Review supports my argument. Grocery retailers are investing in in-store experiences, 3rd party delivery apps, and subscription programs to enhance customer engagement, drive omnichannel growth. While experiential tactics like adding bars boost foot traffic and sales by over 5%, partnerships with third-party apps often reduce impulse purchases and loyalty, and subscriptions risk profitability due to high service costs. The study revealed that customer behavior changes in unexpected ways, making it essential for retailers to align innovations with operational strategy, data insights, and profitability goals. 📍In-Store experiences still drive incrementality, sure. Stores that added cafes or bars saw: +6.82% increase in total spend +5.76% more transactions +15.49% increase in time spent in store My two cents: Food & beverage brands should co-invest in experience zones (like dessert pairings, beverage sampling). This fuels cross-department spend and impulse purchases. 📍Surprise, surprise; impulse purchases decline with delivery apps Partnering with last-mile delivery partners results in -21.2% drop in impulse purchases (esp. snacks, bakery) -6.6% drop in sales volume Relying on 3rd party delivery suppresses #FMCG impulse-driven categories. Brands must rethink digital shelf storytelling and premium placement. 📍No brainer here, of course, subscriptions fuel bigger baskets, but at a cost. For subscribed customers: +55.5% increase in items per order +113.4% increase in order frequency +30% increase in product sales But, approx. 50% of subscribers caused -108.4% profitability loss To resolve this, #CPG brands must help retailers optimize for SKU mix and basket value in subscriptions to avoid profitability erosion. 📍 Consumers shift behavior based on convenience, not loyalty. Shoppers using delivery apps make fewer, smaller trips, buying fewer SKUs, but higher-priced ones. Premium, limited-edition, or DTC-exclusive launches perform better in digital delivery environments. Core SKUs risk de-prioritization. ++ I expect to see more across retailers in 2026 & 2027 ++ 1. AI-based inventory will be mandatory. 2. Delivery platforms will morph into retail and media ecosystems 3. Offline experience zones will serve as sampling hubs (I talked about this at the MIT Platform Strategy Summit in 2022) 👍 4. Shelf-level loyalty programs will emerge, using in-store smart carts or mobile apps, and brands will push on-shelf loyalty triggers like instant coupons. I believe #retail innovation is no longer about features — it's about behavioral precision. Every new tactic must be measured by how it changes the why, what, and where behind each consumer’s purchase. That’s where real ROI begins. Article link 👇

Waitrose x Gail's is the blueprint for retail partnerships that actually work. Here's what makes it brilliant: Waitrose could have easily created their own premium sourdough section. Same quality, same craft credentials, probably better margins. But they didn't. Because they understood something crucial: their customer isn't just buying bread. They're buying the Gail's brand. The status symbol. Waitrose started stocking Gail's in 2010. Now they've expanded to dedicated bakery areas in 64 stores and doubled the product range beyond sourdough to granola, crackers, bagels, muffins. This wasn't about filling a gap. It was about recognising that sometimes the brand equity lives outside your own four walls. The person buying Waitrose organic vegetables is the exact same person paying £4.50 for a Gail's almond croissant. Both brands understand quality ingredients, craft credential, and sustainability messaging. Most retailers would have built a copycat range and called it innovation. Waitrose had the humility to admit: our customer wants this brand, not our version of it. There's massive opportunity for retail brands to play in grocery space. But only if there is brand awareness, brand equity and the customer bases align. ♻️ Repost this if it resonates 🛎️ Follow Lottie Unwin (she/her) for more marketing leadership ✍ Sign up to my newsletter for deeper insights

Most specialist firms chase direct government contracts. We chose a different path. At Mayfair IT we work primarily through strategic partnerships with major systems integrators delivering government programmes. This isn't the obvious business model. Direct government relationships feel more prestigious. Why be the subcontractor when you could be the prime? Because complex transformation requires both scale and specialism. And trying to be both rarely works. Strategic suppliers bring programme governance, stakeholder management across departments, and infrastructure at national scale. But they can't be deep specialists in every technical domain. That's where we fit. When a prime needed to build the data backbone for a critical government programme in just three months, we delivered. When a major corporate secured a multi-year departmental transformation, we led the data and digital layer that enabled the programme to succeed. This model works because: → We mobilise specialist squads rapidly without the overhead of prime contractor bureaucracy → We integrate into existing programme structures rather than creating parallel governance → We transfer knowledge systematically so capability stays with the client after delivery Our successful deliveries shows this pattern repeatedly. A major corporate won the programme. We delivered the complex data workstream that made the whole thing succeed. The programmes that work best are the ones that combine corporate scale with specialist depth. What's your experience with prime sub models on large programmes? #GovTech #Partnership #DataTransformation

The battle for grocery is no longer about stores. It’s about ecosystems. Tesco’s partnerships with Uber Eats and Deliveroo are far more than new delivery agreements. They signal how leading retailers are redefining growth in the platform economy. One detail stands out. Tesco has deliberately chosen to work with two arch rivals: Uber Eats and Deliveroo, now part of DoorDash. Rather than betting on a single platform, Tesco is maximizing customer reach across competing ecosystems. Key highlights: * Thousands of Tesco grocery, fresh food and household products will become available through Uber Eats and Deliveroo. * Customers will benefit from Clubcard Prices and collect Clubcard points on both platforms. * The partnerships build on Tesco’s rapid delivery service, Whoosh, extending its reach to millions of additional customers. A few facts for context: * Tesco is the UK’s largest grocery retailer, generating more than £63 billion in annual revenue. * Online sales exceeded £7 billion in the latest financial year, growing 11% year-on-year. * Whoosh® sales grew 51% to more than £400 million, highlighting the continued momentum of rapid grocery delivery. Why this matters Retail is evolving from competing through channels to competing through ecosystems. An ecosystem is no longer limited to stores and an e-commerce website. It combines physical retail, digital commerce, loyalty programmes, retail media, data and increasingly external platforms that already own consumer attention and purchasing frequency. Uber Eats and Deliveroo are no longer just delivery providers. They have become discovery platforms, customer acquisition channels and integral parts of the retail ecosystem. What makes Tesco’s move particularly interesting is its willingness to participate in multiple competing ecosystems simultaneously. The objective is not platform exclusivity. The objective is customer accessibility. The retailers that will win are those that orchestrate multiple ecosystems while continuing to strengthen their own brand, loyalty programme and customer relationships. The real competition is no longer retailer vs. retailer. It’s ecosystem vs. ecosystem. #tesco #doordash #ubereats #deliveroo #ecosystem #platformeconomy #retail #retailtech #fmcg #grocery #foodretail #ecommerce #digitalcommerce #omnichannel #quickcommerce #qcommerce #lastmile #delivery #loyalty #retailmedia #customerexperience #marketing #sales #foodtech #startups #investors #unitedkingdom #europe #ukretail #retailinnovation

🌟 60% of customers added a digital wallet card within 4 months. Not a pilot. Not a proof of concept. A live product in the market, compounding. 💫 The gap between buying insurance and experiencing it is where trust is either built or broken. Recently on the #ScoutingforGrowth podcast (links in the comments below), I sat down with Ernesto Suarez, CEO of Gigasure, and Marc Lampe, CEO of Miss Moneypenny Technologies and the Wallet Studio, to discuss how tech-MGA partnerships redefine this moment of truth. Gigasure is building the future today. By making the app the hero of their business and integrating a digital wallet card, they meet digital natives exactly where they are—on their mobile devices. The results speak for themselves. In less than four months, nearly 60% of their customers have added the Gigacard to their digital wallets. This isn't just adoption; it is a shift in behavior. It transforms a static policy into an active, continuous relationship. This proactive approach is reflected in their stellar 4.6/5 Trustpilot rating, backed by over 3,400 reviews. Customers consistently praise the simplicity, competitive pricing, and ease of use. The ability to tailor cover is proving vital, especially for those with existing medical conditions. This success underscores a crucial insight: collaboration is the catalyst for transformation. When an agile MGA partners with a focused tech enabler, they bypass legacy friction to deliver immediate, tangible value. They prove that innovation doesn't have to be a multi-year ordeal; it can be deployed, tested, and scaled rapidly. We are moving from an era of disruption to one of integration. The technology exists to make insurance frictionless, responsive, and deeply human-centric. The destination is clear. The question is the route. How are you embedding trust into your customers' daily experience? #CustomerExperienceOS #IntelligentLayer #Gigasure #MMPWalletStudio

Guardian Life's 7-Year AI Partnership Signals a Bigger Shift in Insurance Guardian Life has announced a seven-year strategic partnership with HCLTech, covering application development, infrastructure, operations, and the transfer of its India Global Capability Center (GCC). What stood out to me wasn't the size of the deal. It was what the deal represents. For years, AI discussions in insurance have centered on a familiar question: "Should insurers build AI internally or buy it from external partners?" Today, a different question is emerging: Which capabilities should remain strategic assets, and which can be developed together with trusted partners? The different approaches taken by leading insurers illustrate this shift. • Allianz: Strengthening group-wide AI capabilities through Allianz Technology. • AXA: Building shared AI platforms that can be reused across markets. • Zurich and Aviva: Keeping core capabilities in-house while partnering with specialist InsurTech firms. • Guardian Life: Strategically externalizing parts of its technology and operations through a long-term partnership. • Meiji Yasuda: Building internal digital capabilities with Accenture. • Dai-ichi Life: Establishing a Global Capability Center with Capgemini. The real challenge is identifying which capabilities create sustainable competitive advantage. For insurers, these typically include: • Business expertise • Insurance data • AI governance • Operating model design Other capabilities—such as foundation models, cloud infrastructure, engineering capacity, and specialist AI technologies—can often be developed more effectively with external partners. AI transformation is evolving into organizational transformation. The next competitive advantage won't come from having the best AI. It will come from designing the best AI operating model. In the accompanying slide, I summarize the AI operating models emerging across leading global insurers. #Insurance #ArtificialIntelligence #GenerativeAI #InsurTech #DigitalTransformation #FinancialServices #AIGovernance

Achieving climate resilience is impossible without addressing gender equality. Climate change does not affect everyone in the same way. Inequalities shape who is most exposed to risks, who has access to resources, and who is able to adapt. I'm sharing a fantastic guide, “Advancing gender equality and climate action: A practical guide to setting targets and monitoring progress.” This guide is a collaborative effort designed to help climate and development practitioners move from high-level principles to impactful, on-the-ground practice. It addresses the persistent gender gap in development and provides a roadmap for ensuring climate projects are gender-responsive rather than gender-blind. It breaks down the process, including: • Understanding people’s needs through gender-disaggregated data. • Designing gender-responsive solutions and project goals. • Integrating gender into budgeting and planning. • Developing monitoring and evaluation indicators that track progress on both climate outcomes and gender equality. Such a great reminder that effective climate action must also be inclusive! #ClimateAction #GenderEquality #ClimateResilience #SustainableDevelopment #GenderMainstreaming

The airline partnership decision that gets misunderstood: Treating equity stakes as revenue generators. They're not. Delta's 49% stake in Virgin Atlantic doesn't directly impact the P&L. The transatlantic Joint Venture does, where Delta shares in profits from Virgin's Heathrow flights to North America alongside Air France and KLM. Equity partnerships are strategic enablers, not commercial mechanisms. Here's what actually drives commercial value: 𝗜𝗻𝘁𝗲𝗿𝗹𝗶𝗻𝗲 𝗔𝗴𝗿𝗲𝗲𝗺𝗲𝗻𝘁𝘀: The foundation. Enable multi-carrier bookings on a single ticket. Minimal integration, <5% revenue enhancement. Every deeper partnership starts here. 𝗦𝗽𝗲𝗰𝗶𝗮𝗹 𝗣𝗿𝗼𝗿𝗮𝘁𝗲 𝗔𝗴𝗿𝗲𝗲𝗺𝗲𝗻𝘁𝘀 (𝗦𝗣𝗔𝘀): The margin protector. Negotiate custom fare splits so you can price aggressively on interline connections without destroying yield. 3–8% revenue lift on affected routes, yet underutilized relative to their low-cost, high-impact potential. 𝗖𝗼𝗱𝗲𝘀𝗵𝗮𝗿𝗲 𝗔𝗴𝗿𝗲𝗲𝗺𝗲𝗻𝘁𝘀: Network multiplication. Put your code on a partner's metal, grow your network without adding aircraft. 5–12% traffic growth on codeshared routes. The workhorse of modern airline strategy. 𝗖𝗮𝗽𝗮𝗰𝗶𝘁𝘆 𝗣𝘂𝗿𝗰𝗵𝗮𝘀𝗲 𝗔𝗴𝗿𝗲𝗲𝗺𝗲𝗻𝘁𝘀 (𝗖𝗣𝗔𝘀): The feed machine. Pay another operator to fly your thinnest routes under your brand. You control revenue and risk; they deliver capacity at 15–25% lower unit cost than mainline. Essential for hub-feeder economics. 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗰 𝗔𝗹𝗹𝗶𝗮𝗻𝗰𝗲: The multilateral play. Alliance membership (Star, SkyTeam, Oneworld) delivers coordinated schedules, FFP reciprocity, and broad codeshare access. 10–18% revenue enhancement, but requires significant systems integration. 𝗝𝗼𝗶𝗻𝘁 𝗩𝗲𝗻𝘁𝘂𝗿𝗲𝘀: Metal-neutral integration. Share profits and losses on specific routes as if you were one airline. 15–25% revenue uplift on Joint Venture routes when regulatory approval is granted. 𝗠𝗲𝗿𝗴𝗲𝗿 & 𝗔𝗰𝗾𝘂𝗶𝘀𝗶𝘁𝗶𝗼𝗻: Full consolidation under single ownership. Multiple brands and AOCs often remain, but revenue and cost synergies are captured at group level. Synergies typically range from 2.5-4.4% of revenues in successful integrations, but failures drive costs up as complexity overwhelms execution capability. The key insight? These partnerships don't form a ladder you climb. Airlines choose the structure that fits their strategic needs. The Quick Reference Guide below maps all 8 partnership types across three dimensions: integration depth, commercial value impact, and relative complexity. Which partnership structure do you see most underutilized? Let's discuss. 𝗟𝗶𝗸𝗲𝗱 𝘁𝗵𝗶𝘀 𝗽𝗼𝘀𝘁? 💾 Save for future reference 🔄 Share with your aviation network and spread the knowledge #AirlineStrategy #AirlinePartnerships #NetworkPlanning #Air52Insight

$6T of insurance cash. 33% deployed. The rest soon? Blackstone has signed a $20B private credit partnership with Legal & General that underlines the partnership route to insurance capital. US life insurers hold $6 trillion in cash and invested assets. A third is already allocated to private credit, and that figure is "rapidly rising." But here's what's especially interesting for private market practitioners: 𝗧𝘄𝗼 𝗰𝗼𝗺𝗽𝗲𝘁𝗶𝗻𝗴 𝘀𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗲𝘀 𝗮𝗿𝗲 𝗲𝗺𝗲𝗿𝗴𝗶𝗻𝗴: • 𝗧𝗵𝗲 𝗮𝗰𝗾𝘂𝗶𝘀𝗶𝘁𝗶𝗼𝗻 𝗺𝗼𝗱𝗲𝗹: Apollo and KKR have snapped up large annuity providers • 𝗧𝗵𝗲 𝗽𝗮𝗿𝘁𝗻𝗲𝗿𝘀𝗵𝗶𝗽 𝗺𝗼𝗱𝗲𝗹: Blackstone strikes deals with insurers like L&G, Corebridge Financial, and Resolution Life. 𝗧𝗵𝗲 𝗕𝗹𝗮𝗰𝗸𝘀𝘁𝗼𝗻𝗲-𝗟&𝗚 𝗱𝗲𝗮𝗹 𝘀𝗵𝗼𝘄𝘀 𝘄𝗵𝘆 𝗽𝗮𝗿𝘁𝗻𝗲𝗿𝘀𝗵𝗶𝗽𝘀 𝗺𝗮𝘆 𝘄𝗶𝗻: • $20B scale over 5 years without massive capital outlay • Cross-border access (UK insurer writing US pension risk-transfer business) • Focus on investment-grade private credit (though ownership model is as well) • More scalable than buying every insurer you want to work with "T𝘩𝘦 𝘵𝘸𝘰 𝘧𝘪𝘳𝘮𝘴' 𝘤𝘰𝘮𝘣𝘪𝘯𝘦𝘥 𝘤𝘢𝘱𝘢𝘣𝘪𝘭𝘪𝘵𝘪𝘦𝘴 𝘢𝘭𝘭𝘰𝘸 𝘵𝘩𝘦𝘮 𝘵𝘰 𝘰𝘳𝘪𝘨𝘪𝘯𝘢𝘵𝘦 𝘢𝘴𝘴𝘦𝘵𝘴, 𝘪𝘥𝘦𝘯𝘵𝘪𝘧𝘺 𝘪𝘯𝘷𝘦𝘴𝘵𝘮𝘦𝘯𝘵 𝘰𝘱𝘱𝘰𝘳𝘵𝘶𝘯𝘪𝘵𝘪𝘦𝘴 𝘢𝘯𝘥 𝘤𝘰𝘮𝘦 𝘶𝘱 𝘸𝘪𝘵𝘩 𝘱𝘳𝘰𝘥𝘶𝘤𝘵𝘴 𝘵𝘩𝘢𝘵 𝘮𝘦𝘦𝘵 𝘵𝘩𝘦 𝘯𝘦𝘦𝘥𝘴 𝘰𝘧 𝘣𝘰𝘵𝘩 𝘪𝘯𝘴𝘵𝘪𝘵𝘶𝘵𝘪𝘰𝘯𝘢𝘭 𝘢𝘯𝘥 𝘪𝘯𝘥𝘪𝘷𝘪𝘥𝘶𝘢𝘭 𝘤𝘭𝘪𝘦𝘯𝘵𝘴," said Philip Sherrill, Blackstone's head of insurance. 𝗧𝗿𝗮𝗻𝘀𝗹𝗮𝘁𝗶𝗼𝗻: Partnerships create flexibility that ownership doesn't. Meanwhile, L&G is targeting £85B (!) in private markets AUM by 2028, showing how traditional asset managers are pivoting hard into alternatives. They recently hired Eric Adler to run the business. The question isn't whether insurance capital will dominate private credit. It already is. It's which strategy - partnerships or acquisitions - will prove more effective (and lasting) at scale. Endlessly interesting either way. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ The infrastructure of private markets is taking shape daily. Follow me and The Private Markets Forum to keep up!

Insurance is the canary in the coal mine | Public Private Partnerships offer a path to greater societal resilience The European Central Bank (ECB) and the European Insurance and Occupational Pensions Authority (EIOPA) published a very important discussion paper last month which persuasively argues for the establishment of an EU public-private reinsurance scheme and an EU fund for public disaster financing. These innovations would incentivise households, businesses, and governments to deploy (stronger) risk management practices and enhance their financial resilience in the face of growing climate related risks. Why has the ECB and EIOPA invested so much time and energy into researching this space and making these proposals? 1. Insurance protection gaps are growing: Natural catastrophes caused around €900 billion in direct economic losses within the EU between 1981 and 2023, with 20% of these losses occurring in 2021-23. However, only about 25% of these losses were insured and this share is declining as illustrated below. Climate change is increasing the frequency and severity of natural catastrophes, meaning that losses will grow. In response, (re)insurers will increase premiums to pay claims, creating affordability challenges. (Re)insurers companies will also stop offering insurance in high-risk areas, leaving households and businesses unprotected. 2. Growing protection gaps will cause greater financial instability: This work builds on a 2023 Paper in which the ECB and EIOPA provided evidence that the lack of insurance can slow down economic recovery following disasters, increase banks’ exposures to credit risk, and weaken the fiscal position of governments when they step in to cover uninsured losses. We know that governments across Europe are already operating with incredibly stretched budgets, so where is this money going to come from? The ECB and EIOPA believe that public-private partnerships (PPPs) are a crucial part of the solution. 3. The Paper’s recommendations are based on an examination of 12 PPPs: These proposals are informed by an examination of 12 global PPPs, eight of which are in Europe. These schemes improve insurance coverage and reduce the protection gap. The average share of insured losses in European countries with a national PPP is 47%, while it is 18% in countries without a national scheme. Importantly, these schemes frequently include risk mitigation measures such as incentives for homes in flood-prone areas to be flood-proofed. 4. The business case for national PPPs: While the Paper promotes an EU-wide PPP, it implicitly makes the case for national PPPs and explicitly states that an EU-wide scheme would supplement national schemes. Further, national schemes provide greater societal resilience and do not crowd out the private sector. Rather, they are complementary, covering risks that (re)insurers would not underwrite alone. #sustainability #sustainabledevelopmentgoals #sdg13 #insurance