As the business environment of today is changing at such a rapid pace, companies’ ability to change and develop its organizations and methods of doing business has become the key to success in the 21st century. Companies need to focus on building innovation culture and to make the most out of the already existing know-how within the organization and its staff. Companies need to rapidly adapt their innovation strategies to meet the pressure set by competitors. For innovations to emerge, companies need to change and review working practices, skill of employees and overall organizational culture. Organizational innovation culture is about driving growth, renewal and value creation through capitalizing the potential of employees, collaborators and customers alike. This paper is written from the viewpoint of insurance company X, which launched an innovation process to transform the organizational culture of the company. This thesis identifies the prerequisites and challenges when it comes to changing an organizational culture, using theoretical framework to support the findings of a real-life process.