The insurance companies doing the best job at effecting digital change share three key attributes: a well-defined digital strategy, a focus on a forward-thinking culture and a robust change-management process that ensures follow-through on innovation efforts.
That's according to Accenture's survey of 292 insurers for the consultancy's "Master Change: Lead in 'The New'" report issued this week. Most insurers are planning to invest in new platforms designed to lower cost, improve the customer experience and meet new regulatory requirements, the company reports. But the winners tend to have a strong culture built around transformation and innovation and seeing initiatives through to the end.
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