How Insurers Can Bring Focus to Digital Initiatives

Explore a new framework that lets insurers assess their digital maturity, identify how best to move ahead, and gain insight into the practices of industry digital leaders to guide their own efforts.

Snapshot Insights

Snapshot Insights,

Too often, insurers take a fragmented approach to digital adoption. They launch initiatives in isolated pockets within the business with little overall coordination. In fact,
more often than not, insurers lack a comprehensive digital plan, which impedes their ability to implement the process and business-model changes necessary to drive revenue, profitability and other targeted business outcomes.

As with any change initiative, digital transformation requires a clear strategy. This strategy must be based on an accurate understanding of the digital “as-is” state that is, the company’s “digital maturity.” With a realistic view of their maturity level, insurers are better positioned to create and apply a comprehensive digital plan to stay ahead in this highly competitive industry. 

To help organizations gauge their level of digital maturity, we developed a Digital Maturity Diagnostic (DMD) framework. This diagnostic tool uses insight gleaned through self-assessments by senior business and IT executives of multibillion-dollar companies. Although the DMD survey is ongoing, the current results show a clear pattern. Download the white paper to explore it further.