This blog looks at the three fundamental characteristics of the Digital Insurer, the insurance company of the future.

In any complex journey, it’s vital to have a very clear picture of where you are heading. So what does a Digital Insurer look like?

Just a quick reminder: Accenture High Performance Business research has identified the key attributes of a high-performance insurer:

  • Effective customer-centric distribution.
  • Responsiveness to the market.
  • Operational excellence.
  • Relentless pursuit of cost reduction.

These attributes remain foundational, but they need to be supplemented by innovation on three fronts. The Digital Insurer is:

  • Connected in order to reinvent the customer experience. The connected insurer is physically and emotionally linked to its customers, and offers a fully integrated multichannel experience built on collaboration with customers, employees, partners, distributors and suppliers.
  • Analytic, working with large data sets to generate richer insights and smarter decisions. The analytic insurer harnesses powerful predictive tools and techniques, and wires analytics into core processes and decision-making. It also uses this capability to customize products and services, and keep on learning.
  • Agile, breaking free from the cocoon of its legacy systems to enable operational excellence. Its core business processes are lean, and its process management disciplines are strong.


The Digital Insurer: Change now to get ahead
View the PDF.

Finally, it’s important to recognize that success in the digital world requires bold, visionary leadership based on an understanding that the world has changed. And, based on Accenture’s extensive experience in insurance, we think it’s smart to learn what works in this new world through a series of manageable projects (starting with the low-hanging fruit) before taking on the big, multi-year plays.


Learn more by reading: P&C Insurance – The Digital Insurer: Change Now to Get Ahead and Life Insurance – The Digital Insurer: Change Now to Get Ahead (PDFs; opens in a new window).

In my next blog I want to conclude with three key lessons to help insurance companies make a successful digital transformation.

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