According to Accenture’s 2014 Digital Innovation Survey, insurers have mixed views about the digital revolution. Just over half of the respondents (51 percent) feel that digital technologies are creating more opportunities for generating customer value than they present challenges. But for the remaining respondents, the challenges presented by digital technologies outweigh the opportunities.
To make the most of the opportunities offered by digital technologies, we recommend insurers:
- Build capabilities now to collect data and turn it into actionable insights.
- Adopt a solution-based approach to embed themselves in customers’ lives.
- Develop new partnerships.
- Aim for the sweet spot where customer value and business value intersect.
- Create an outcomes-based digital business strategy.