Deloitte has a new name for today's world:
According to Deloitte, here are the forces reshaping today's insurance companies in the post-digital era:
Social business: The initial waves of social business “are about unlocking insights based on people’s behavior and relationships, and on supplementing the enterprise’s traditional view of markets and employees. Even more value can be gained as companies restructure how work gets done through social engagement – and by customizing messaging, promotions and even products, based on individual and community desires. Social awareness can give way to social empowerment – once again placing people at the heart of business.”
Enterprise mobility unleashed: “There’s no excuse for not pursuing mobile. The revolution is well underway. Every business should be exploring how it will operate when location constraints are obliterated. Every CIO should have a clear vision of a world in which every customer, worker and supplier is hyper-productive, hyper-available and hyper-engaged.”
User empowerment: “CIOs should reimagine IT services, starting with a commitment to the user. Inject creative and design thinking into the delivery model. Move from 'thou-shalt-not' mandates to services that guide and aid the adoption of almost-enterprise applications. Aspire to deliver innovative, intuitive, usable and simple solutions – and harness the power of your empowered users for higher business performance.”
Hyper-hybrid cloud: “Today, hyper-hybrid clouds are an advanced form of cloud services in the early stages of adoption, but the approach is rapidly becoming the norm for cloud services architecture. All types of organizations are trending towards hyper-hybrid clouds. Organizations that can bridge hyper-hybrid clouds with their core systems will be at the forefront to elevate business performance with the next wave of digital innovation.”
Big data goes to work: “What once was the stuff of science fiction has become an everyday occurrence. Exabytes. Zettabytes. Yottabytes. Sensors, asset intelligence, mobile devices and constant streams of unstructured communications have created digital exhaust that can capture who we are and how we live, work and play. Focus on specific crunchy questions tied to well-defined business problems and attributable results.”
Geospatial visualization: “Creating visual, interactive, location-based models of complex data can multiply the power of data analytics. Organizations that combine the explosion of location-aware data with the power of geospatial analysis and wide accessibility of geospatial visualization can provide game-changing support for business decision making at levels never considered before.”
Digital identities: Within large enterprises, “digital footprints have spiked due to the growth in personal or consumer-facing identities. As a result, there are an overwhelming number of personas, attributes and relationships that could potentially be managed under a single digital identity.”
Measured innovation: “Beyond running the business of IT and delivering IT to support the needs of the business, CIOs should be leading the charge toward innovation through emerging solutions and technologies. The magnitude of needed change is likely to shift over time, but a mixture of incremental and breakthrough advances across sustaining and disruptive innovations will likely be needed to advance the organization toward a more competitive – and more profitable – position.”
Outside-in architecture: “An outside-in architecture vision represents a significant departure from the status quo.... Outside-in architecture requires an organization to think about its operations and processes as a collection of business capabilities or services. Each individual service can then be examined to determine how it can be most effectively fulfilled.”
Joe McKendrick is an author, consultant, blogger and frequent INN contributor specializing in information technology.
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