Humana’s Chief Innovation Officer: ‘Co-creation is the new way’
Twenty months after Chris Kay was named Chief Innovation Officer at Humana, and five months after Aetna announced its plans to acquire Humana for $34 billion, we sat down with Kay to talk about how his team is working to deliver value for the health insurance giant, which chalked up $48 billion in 2014 revenue. (The Aetna-Humana deal is being reviewed by regulators, and would potentially close in the second half of 2016.)
Kay says he’s focused on new ways of collaborating with startups, understanding consumer desires, and scaling what works best. He’s also helping Humana adapt to what he calls the industry’s “tremendous transformation” in the wake of the Affordable Care Act of 2010, elements of which are still being phased in. While declining to talk about the size of his innovation team, Kay says members are located in Louisville, Ky., where Humana is headquartered; New York; and Palo Alto, California. The team includes experts from mobile, banking, and other “consumer-oriented” industries.
Kay joined Humana after running global venture investing and incubation at Citi, the financial services firm.... continued ...