Carriers under pressure to expand digital capabilities and improve customer experience: Novarica
Boston, MA (Aug. 1, 2018) – Significant gaps exist between insurers’ current digital capabilities and the expectations of the marketplace. To remain competitive, carriers must develop digital strategies to re-align their organizations, focus their IT investments, and guide them through the numerous decisions required across digitization efforts. In a new brief, Insurance Digital Strategy: Key Issues and Best Practices, research and advisory firm Novarica explores best practices digital leaders leverage to effectively shape their digital strategies.
“Good strategies fail without proper execution. Novarica has found that carriers who effectively implement digital strategies do three things well,” said Chuck Ruzicka, Vice President of Research and Consulting, and author of the report. “First, they put in place a governance process with well-defined accountabilities to prioritize and manage digital investments. They then refine their application and process architectures to support digital capabilities and enable adaptability. Lastly, they foster a more innovative and entrepreneurial culture.”
A preview of the brief is available online.
Novarica helps more than 100 insurers make better decisions about technology projects and strategy through retained advisory services, published research, and strategy consulting. Its knowledge base covers trends, benchmarks, best practices, case studies, and vendor solutions. Leveraging the expertise of its senior team and more than 300 CIO Research Council members, Novarica provides clients with the ability to make faster, better, more informed decisions. Its consulting services focus on vendor selection, custom benchmarking, project checkpoints, and IT strategy. For more information, visit www.novarica.com.
Source: NovaricaTags: Digital Innovation, Digital Insurance, Novarica, strategy