A successful digitalization strategy is critical to insurance firms' survival. This white paper examines effective strategies for overcoming internal obstacles to digital transformation and the crucial role data plays in any insurance carrier's business.
Additionally, it clarifies the foundational capabilities that are key to a successful digital transformation initiative.
- Driving business transformation with reliable data that identifies profitable customer segments and products to inform a sound growth strategy.
- Eliminating disparate data systems to enable integrated operations, so everyone transacting business can be "on the same page."
- Deploying analytics and reporting that offers clarity into enterprise operations, enabling leadership to assess performance and drive proactive operational improvements.
Finally, this paper illustrates how digital transformation has enabled one of the nation's leading providers of life insurance, retirement solutions, and investment management to experience more than 30 percent growth for three consecutive years, positioning the company to consistently outperform its competitors in the insurance industry.