With digital pervading the insurance industry, it’s bringing with it ubiquitous and unprecedented change. There are new technologies and solutions, more data than ever before, legacy and new systems to tie together, new alliances, new startups, the demands of digital-native customers, and so much more to consider.
Amid all this change, it’s people who hold the key to transforming insurance for the future. In the Accenture Technology Vision for Insurance 2016, we look beyond the technology to how it affects and empowers people—not just customers and partners, but also a new kind of employee with very different outlooks and aspirations.
This ‘born digital’ generation demands a world fashioned to its needs and expectations about how work should be organized. Pervasive collaboration technologies are reconfiguring long-established norms of employment. The push toward freelance and portfolio careers is reshaping the workforce—how, when, and where.
For a conservative industry such as insurance—where siloed workforces and hierarchical organizational structures still prevail—the digital culture shock of the next few years promises to be profound. Many insurers are already reeling from the impact of technology on customers’ expectations.
But now, they’ll need to start changing their products, their business models, and all of the processes that support them. They’ll need to develop new skills. And they’ll have to learn different, more agile ways of working across ecosystems, using looser, partner-based collaboration.
The insurance business is digital, so the organization, its people and its culture must now become digital too. And that will demand that high-performing insurers embrace new ways of investing in their people, managing them and helping them adapt and embrace change. For the next-generation of insurer, digital culture and talent will be decisive, clear differentiators in an increasingly digital world.
Register to download the Accenture Technology Vision for 2016 Infographic. We will notify you when the full report is available (early April).