Finance digital transformation in insurance
In many ways, the success of digital transformation initiatives in finance is mission critical for insurance CFOs.
There is extensive evidence that digitally mature finance functions – functions that have implemented more than a handful of finance digital transformation initiatives - are differentiating themselves on key performance metrics and are delivering superior results. Whether it is quality of business decisions, efficient reporting, or accurate planning and forecasting, they outperform finance functions that are still early in their digital transformation journey.
Most insurance finance functions are either in the early stages of their digital transformation journey or have not started at all. Even in organisations that have made significant progress, the adoption of digital technologies is largely limited to transactional processes.
In this paper, we lay out a model step-by-step approach on how insurers can orchestrate a successful finance digital transformation journey.
Topics covered:
• Putting digital in digital finance.
• Why digital transformation is difficult.
• How to enable successful digital transformation in finance.
• Digital solution set.
• Insurance case studies.