Internal shortcomings are proving to be a major roadblock on the road to becoming customer-first insurers through mobile technologies.
It’s clear from the results of the Accenture Mobility Insights Survey that insurers feel relatively happy about their mobility initiatives at a strategic level. Insurance executives are more likely than peers in other industries to be satisfied with the progress their companies have made toward a broad range of mobile priorities. They are more likely to consider their adoption and deployment of mobile technologies to be effective; and are somewhat more likely to have generated a strong return on their mobility investments.
But the survey also points to several internal shortcomings that continue to hold them back on the mobility front. These include:
- Adapting their current systems and infrastructure to smoothly accommodate new mobile technologies. This would imply that the deep digital transformation that is needed to take full advantage of new technologies, like mobile technologies, remains at best incomplete. In other words, it could be that mobile technologies are simply being “bolted on” to existing organizational and technology structures.
- Developing a formal process for identifying, evaluating, and prioritizing ways in which mobile technologies can benefit their business. This talks to the extent to which CIOs remain isolated from the rest of the C-suite in insurance companies, something that will need to change as the role of technology grows in importance as a catalyst for new business.
- Implementing formal metrics that enable them to measure the effectiveness of their mobility initiatives. Getting this aspect right will help CIOs strengthen the business case for investing in mobile technologies,
Next week, a final blog looking at some further challenges.