The digital insurer (Part 2 of 2) 
Published: Sep-11-12
Last week, I introduced the benefits to insurers of developing digital capabilities. This week, I’ll talk about the three characteristics of a digital insurer and how to achieve success in the digital world.

The digital insurer

Accenture believes that for high performance in insurance, insurers need to innovate in three ways. The digital insurer is:
  • Connected
  • Analytic
  • Agile
Each of these characteristics represents a distinct application of digital technologies, and insurers must understand how to differentiate themselves and implement these capabilities effectively.

Success in the digital world

Success in the digital world requires new forms of leadership, such as visionary executives who are fluent in both business and technology. Further, a digital insurer:
  • Recognizes that the game is fundamentally different.
  • Acknowledges the need to be customer-centric.
  • Understands the potential of key technology enablers.
  • Focuses on creating true business value, rather than gimmicks.
  • Understands that tweaks to old business models are insufficient.
  • Adopts a nimble, flexible approach to change.
  • Embraces innovation.
The future of insurance is digital, and Accenture believes that the winners will be those that can apply digital technologies to be connected, analytic and agile.

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With the way the world is innovating today, everyone and everything must catch up as well. I agree, if you still want success as an insurer better keep up with the change and go digital yourself.
David Meek   |   Sep-21-12   |  06:51 PM
I agree with you both in part 1 and part 2. Times are changing and personally I think it is for the better. Both for consumers and insurance agents. One thing that is really sad is that many insurance agents are not realizing what is happening around them. The biggest problem I see is when consumers (most often young consumers) do not understand the true service they are missing out from having a real insurance agent and stick to doing everything digitally.
Zachary Emly   |   Sep-13-12   |  03:52 PM

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