DIGITAL STRATEGY
“ all of the above .” Indeed , the priority of these goals is apt to be whatever an individual insurer considers most important . However , in a purely technological sense , the solution is likely to reside in better data management . Fino suggests that “ being able to access all the information that exists in an insurance environment and then leveraging it with the use of automation and artificial intelligence ( AI )” will be particularly important in terms of scale and growth . Partners also play a key role in helping enterprises determine the right solution and integration roll-out aligned to their unique digital transformation strategy .
Nseir agrees that digital transformation will likely yield lower front-line costs and better service but adds that creating added value for customers should be the primary concern . “ It ’ s important to clarify which customers will be targeted , what their specific needs are , what will be the service delivered , and at which price point . The focus should be broad because digital transformation comprehensively impacts an organisation both internally and externally .”
“ BEING ABLE TO MAKE CHANGES IN A MULTI-TECHNOLOGY ENVIRONMENT HAS ITS CHALLENGES , BUT LV = HAS ENDEAVOURED TO ENSURE A MORE CULTURALLY AGILE MINDSET ”
HEATHER SMITH MANAGING DIRECTOR , LV = GENERAL INSURANCE
42 July 2021