Supercharge digital transformation to create a digital enterprise (Objective of PWC frame work)

Like every other insurer, you’ve probably embarked on a digital transformation initiative, be it focussed on the front, middle or back office. Nonetheless, across the industry, operations continue to be beset by overstaffing, overreliance on manual workflows, fragmented technology and difficulties in making the most of available data. The post-crisis shakeup is therefore an opportunity to put all your organisational focus and muscle behind the digital agenda to create a truly transformed enterprise, from front to back offices. This is the way forwards for all modern enterprises; as an insurer, your company is no exception. Digitally enabled sales, direct-to consumer engagement, automated advice, digital underwriting and automated claims adjudication are just some of the high-value opportunities you should consider. Equally important is the ability to build foundational data, cloud and cybersecurity capabilities.

Action points

• Ensure you have a digital transformation road map for the entire business, including milestones by which you can measure progress

. • Ensure that your digital transformation plan is centred on simplification of the customer experience.

• Fast-track (with resources and funding) initiatives that can accelerate strategic benefits.

• Strengthen your data management, privacy and cybersecurity capabilities.

• Accelerate your cloud migration plan.

Outcomes to target

• Simplification of functions and services • Cost efficiency • Greater productivity • Organisational agility • Operational resilience • Improved customer experience

Read the above objective of PWC frame work and describe how this objective applies to any company of your choice