Digital Insurance Transformation
An Urgent Organizational Journey of People, Processes & Technologies with the Future in Mind
Digital Transformation (DX) is not just another initiative; it’s an organizational journey in which you close gaps for today as you build bridges for tomorrow. This article, originally published in Carrier Management Magazine, answers the essential questions of what a DX strategy is, with a focus on how to embark on the transformational journey.
It includes establishing a vision and developing strategic objectives, roadmaps and plans; structuring the organization; and developing a new or enhanced business model. It also includes managing and embedding data at the point of sale or service; applying intelligent automation through prefill, rules, robotics process automation, artificial intelligence, and analytics capabilities, in combination with workflow and process reengineering. Most important, it includes aligning the organizational culture while taking into account the human aspect and change management at all levels.
Digital Transformation is the comprehensive transformation of business models, organizational activities, workflow and business processes. It is accomplished by leveraging the use of a broad range of digital technologies in combination with data and analytical capabilities in a structured and methodical way with current, interim and future states of the organization and market dynamics in mind.