If ever there was a time when insurance companies need all aspects of their business integrated, it's now. For many years carriers have operated as companies within companies, but organizational silos erode profitability and inhibit growth. It's time to shatter those silos to operate in a fully integrated way, delivering the highest levels of customer value while driving efficiency and profitable growth.
Operating as an integrated business means completely and securely connecting a carrier’s people, information, processes and services across its value chain.
How can insurers begin the transformation journey? Accenture recommends five areas of focus:
Establish a customer-centric strategy
Become digitally and analytically mature
Dismantle operational silos in favor of a redefined operating model
Deploy integrated, multi-function shared services where applicable across the business
Create the operating model and governance that link the business internally and to its customers
Register to download the full report [PDF, 16 pp, 721MB]