CEO Agenda supplies distinctive insights into how leaders assume and lead and what retains them busy in a world of fixed change. We glance into the lives, minds and agendas of CEOs on the world’s most iconic firms.
When Iñaki Ereño assumed the position of Group CEO of Bupa in 2021, the worldwide healthcare panorama was being rewritten in actual time. On the helm of an organization serving over one million prospects worldwide, Ereño faces the problem of reworking a big and established group right into a sooner, extra agile, and digitally enabled supplier of care.
Based in 1947 with the aim of serving to folks stay “longer, more healthy, happier lives,” Bupa is greater than a well being insurer: It builds hospitals and dental facilities, affords international non-public medical insurance coverage, and invests closely in digital well being.
Ereño’s mission? To wake the sleeping large. By way of what he calls the “elephant technique,” the 61-year-old CEO has sought to digitize the enterprise, embed customer-centric listening (together with 300,000 annual detractor calls), and align a world workforce of round 100,000 folks behind a single agenda. “The elephant is now working and nearly all of the folks know the elephant is working. We preserve reminding everybody: don’t let the elephant return to sleep,” he says.
465
Bupa’s rank on Fortune 500 Europe
A self-described “fanatic of the digital financial system,” Ereño believes expertise will outline the subsequent period of healthcare. Bupa has accelerated its use of AI and digital platforms comparable to Blua, launched initially in Spain, to attach medical doctors and sufferers digitally and make consultations sooner, smarter, and extra private.
In an interview with Fortune, Ereño mentioned his evolution from lawyer to retailer to healthcare CEO, defined how his triathlon coaching anchors his management, and why, for him, productiveness isn’t nearly revenue—it’s about delivering higher care, sooner.
This interview has been edited for size and readability.
Right down to enterprise
Fortune: Stroll us by way of your profession journey.
Ereño: My background is in regulation, and really shortly I spotted I didn’t wish to be a lawyer. So I did an MBA and moved into company life. I view my life in three distinct durations. For one interval of my life, I labored as a retailer. In one other, I used to be an entrepreneur, and in the newest interval, I’ve labored in healthcare.
I joined Bupa 20 years in the past in Spain [in Spain, Bupa is called Sanitas]. I joined Sanitas and was appointed CEO of Sanitas, and in 2012, I used to be appointed CEO [of a regional division within Bupa]. My evolution has progressed from my preliminary position as advertising and marketing director of Sanitas, then CEO of Sanitas, adopted by CEO of a area, and eventually Group CEO. It’s been a little bit of a journey.
What was your position within the digital shift?
Covid was an enormous problem for all healthcare methods. For Bupa, we realized that our healthcare system was not digitized sufficient. Well being might be digitized. I used to be within the government group of Bupa for a few years and that was my huge combat: We would have liked to digitize the enterprise extra shortly. [Since then] it’s been a little bit of a journey.
After Covid, we began calling ourselves the “sleeping elephant,” and so we constructed a method known as the “elephant technique.” I bear in mind I went to the board with one slide: an elephant asleep on the left, an elephant waking up within the center, and an elephant working on the proper, with a giant arrow from 2020 to 2024. We would have liked to get up.
The elephant is now working, and nearly all of the folks know that the elephant is working. We preserve reminding everybody: Don’t let the elephant return to sleep.
What are you most pleased with within the final 5 years?
In each presentation, we spotlight the Triangle of Efficiency. On the prime of the triangle is Monetary Efficiency, supported by the 2 different sides: Buyer Efficiency and Worker Engagement. We must be good in any respect.
Clients are crucial. We have now 25 companies in varied nations that comply with the identical sample. We map companies by micro actions, and yearly we do 300,000 detractor calls asking prospects: “Why don’t you want us?”
Yearly, we measure the outcomes when it comes to buyer expertise enchancment and we take this very significantly. There may be plenty of engineering work and logistics concerned in making this occur.
We even have a group of 100,000 folks. You’d assume that every one of them have well being protection supplied by Bupa—particularly since we’re Bupa. However that was not the case.
[Despite the fact] that it could value round 50 million kilos to do that [it was essential that our own employees] have well being protection supplied by Bupa. Now within the Bupa world, each worker is supported by Bupa.
We attempt to discover out why we’re not good, and work on it.
Which long-term development are you most bullish or optimistic about for society and the financial system in the meanwhile?
The digital financial system. We [Bupa] began a bit late however we’re catching up in a short time. We’re now absolutely digitized in all nations. Blua [is an example], which Bupa launched years in the past. I just like the digital financial system and am a fanatic as a result of it’ll assist well being.
Once you have a look at Europe versus the U.S., how do you assume folks like your self in a management position can tackle the productiveness problem?
Bupa and the entire healthcare business are at the moment extra centered on progress. We [believe we] are productive, however it’s not on the prime of our thoughts. We take into consideration how we might be extra productive in order that our prospects shall be happier and higher served, reasonably than occupied with, “how can we earn more money?”
We’ll be implementing an AI generative venture the place, as an alternative of taking seven minutes for a health care provider to see you [and understand who you are and what your issues are], it’ll take 30 seconds. So in 30 seconds, a health care provider will have the ability to see you and a session that often occurs in perhaps quarter-hour will now take solely 30 seconds. That is the productiveness we care about and is the productiveness that has a optimistic affect on our prospects.
Being productive
When do you stand up within the morning and what units up your routine for the day?
I don’t sleep that a lot and often get up round 6 a.m. and I begin studying the newspaper. I learn three Spanish newspapers, the FT and the Financial Occasions. I’ve my first espresso, take a bathe, go to the workplace, and usually am in conferences by 8 a.m.
Sports activities have at all times been a giant a part of my life. I’m into triathlons and often go to the fitness center with my youngest son, who lives with me in London. We go to the fitness center collectively, go to the grocery store, purchase dinner (we often go to an Amazon Recent retailer or Complete Meals), have dinner, after which go to mattress. I stay a reasonably fundamental life and it really works for me.
What sort of espresso do you’ve gotten within the morning?
I’ve a black espresso within the morning, a double espresso. After I share [my coffee intake] with medical doctors, they are saying perhaps an excessive amount of, Iñaki! However I can share this with you.
So I begin with a double espresso, after which I’ve one other one within the workplace with a bit of little bit of milk, like a cortado. Then, after lunch, I’ve one other cortado. I do know it’s plenty of espresso.
Do you verify again in later within the night? Are you working over the weekend?
I’d sound a bit naive, however I just like the job I do and I like my firm. I don’t really feel like I must be disconnected. When I’m away on vacation, I take my cell phone with me and I’m checking emails. I’m paid properly, I’ve an [important] job and we’re a giant firm, so I want to remain linked.
Do you’ve gotten any apps that you simply use, or any strategies that you simply use to be as productive as attainable?
I exploit [most digital tools], to be sincere, however I’m not mega techy.
I used to take notes with a pocket book and pencil, however not anymore, as a result of in the future I spotted that it was taking me extra time. I requested myself, “What number of instances have you ever come again to your notes?” and it was zero. So I ended. I favor to be current and in listening mode.
Getting private
Who’s in your private board and who conjures up or motivates you?
I work with a coach whom I met just a few years in the past. He’s 75, very smart, and a member of my private board. I’ve a Chief Government Committee; there are at all times folks that you simply are likely to name extra when you’ve gotten an issue or want good recommendation. I even have folks on my group that I can name. I’ve nice conversations with my son. All of us want individuals who actually care.
Do you’ve gotten a favourite firm that you simply admire and why?
I really like Amazon. Complete Meals can also be unbelievable.
What’s your favourite delicacies to cook dinner and to eat?
I eat an excessive amount of, however thank God I take pleasure in exercising. I like all kinds of meals, together with a giant steak, good paella, and seafood. I additionally like candy meals and desserts. My coach taught me to be sort to myself and I’ve learnt over time to be sort to myself. If I wish to eat ice cream, I’ll take pleasure in my ice cream.
CEO Agenda supplies distinctive insights into how leaders assume and lead, and what retains them busy in a world of fixed change. We glance into the lives, minds and agendas of CEOs on the world’s most iconic firms. Dive into our different CEO Agenda profiles.
