CIO for Enterprise Applications at Nationwide Insurance Michael Carrel covers rolling out agile enterprise-wide at scale, becoming comfortable with failure, and the ins and outs of building a culture of visual management, accountability, and innovation at this financial services giant.   Transcript  Bob Payne: [00:00:21] I'm here with Michael Carrel from Nationwide. So Michael we've worked together years ago. What are you what are you doing now at Nationwide?   Michael Carrel: [00:00:31] Thanks. Yeah I'm the CIO for enterprise applications at Nationwide. So what I have a responsibility for is all plan build and run for technology solutions supporting our staff functions within Nationwide's marketing, legal, human resources, investments, finance and actually I.T. itself.   Bob Payne: [00:00:48] Wow, so that's that's great. So that that is has expanded since we had worked together.   Michael Carrel: [00:00:53] Lots of stuff.   Bob Payne: [00:00:55] Yeah absolutely. So what trends are you seeing in the Insurance sector right now. What are the drivers that that are driving innovation, driving your use of agile, driving the business, you know.   Michael Carrel: [00:01:11] Yeah. So a couple of things on the short term basis a lot of the trends that we're dealing with aren't different at Nationwide compared to other insurers, specifically you know on our property and casualty side we have lost trends and a rise in the industry due to distracted driving. We have, you know, there's lot of technology in cars these days and so when cars are in accidents our last costs go up as those accidents you know cost more to repair vehicles within our financial services industry. We have a lot of the Department of Labor is creating lots of changes within the financial services industry, especially the products that we sell: new life products. We have annuities and retirement plans.   Michael Carrell: [00:01:53] So the deal well into the regulatory environment is changing a lot. And in some cases you can look at that as an obstacle or as an opportunity. And so related to innovation there's certainly an opportunity there, as with the other things that I mentioned in terms of ways to help prevent distracted driving in particular, technology that we could use to help make our make it safe for our customers. Longer term trends are there as well. Especially in terms of in the in the auto insurance industry with autonomous vehicles, there's a lot there will be a lot of change in revenue within our industry over time as you look at driverless cars are driving increased you know, lower claims frequency which is going to drive down revenue within the industry. So, where are we going to look at revenue sources of the future? You know so innovation plays a huge role in not only how do we create competitive advantage out of the short term challenges we have but longer term than Nationwide how do we continue to fulfill additional revenue sources for Nationwide given the you know the contraction of some of our expectations that industry especially the auto industry going forward.   Bob Payne: [00:03:03] Yes so certainly those are a lot of the some challenges but also opportunities that are presenting themselves. How do you strike that balance between you know this trend is really challenging our bottom line or this presents a new opportunity because there's only so much time you have to sell new products.   Michael Carrel: [00:03:28] That's a great question. And you know what we focus on are really our customer journeys and where we want to differentiate ourselves.   [00:03:34] And that really helps us focus on the innovations that are that are important to Nationwide and specifically in areas such as such as strategic partnerships and ventures. Those are types of things that we're looking at to realize that innovation that we have with the Nationwide doesn't have to only just come from you with them. How can we partner with others inside and outside of Nationwid