When it comes to digital transformation in insurance, execution is as important as strategy. (Photo: Shutterstock)
Digital transformation is a common phrase within insurance. It can carry many meanings, with little consensus.
We know that digital transformation is good for the most part. We know that it's inevitable for insurers looking to stick around and serve the next generations of consumers. When looking at specific examples of digital transformation, we can pinpoint what it is (and what it is not) in a contemporary context. Understanding the context makes it easier to define an approach for achieving digital transformation, compared to building software that may improve operational efficiency, but fails to 'move the needle' on real transformation.
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