Published: 10 May 2023
Digital focus among insurers is shifting from growth to improving the customer experience and operational excellence in 2023. CIOs of insurance organizations can use this research to determine KPIs that help them prioritize investments in digital capabilities to improve operational excellence.
Adjusting the I&T operating model to increase adoption of agile methods, design thinking, cross-functional teams and IT leadership culture has a significant positive impact on operational excellence.
Enabling digital business with foundational technology such as AI and data analytics, cross-channel customer data access, cloud-native architecture adoption and modern customer UI adoption is essential to improving operational excellence.
As an insurance company CIO responsible for digital business strategy and innovation, you should:
Anchor your operating model KPIs to specific, desired digital business outcomes — such as operational excellence — and ensure that goals are time-bound, measurable and correlated to outcomes.
Build
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