A roadmap for a digital transformation No insurance company has yet completed a digital transformation—one that fully harnesses the power of digital technology to rethink every aspect of the organization. But a number of carriers are making remarkable progress, indicating the direction others should take. No insurance company has yet completed a digital transformation—one that Read more about A roadmap for a digital transformation[…]
Building momentum for cultural change Being told to abandon old ways of thinking and working and embrace without delay a new, and seemingly riskier, digital culture can be unnerving for insurance companies. But there are certain actions insurers can take to kick-start change while minimizing the risks—and they do not have to alter everything at Read more about Building momentum for cultural change[…]
The advance of analytics Harnessing the potential of burgeoning data and computer power to add value must become ingrained in insurers’ every activity. Harnessing the potential of burgeoning data and computer power to add value must become ingrained in insurers’ every activity. Source: McKinsey The advance of analytics
The promise of blockchain Blockchain has huge potential to enhance insurers’ business model, but is also being used by digital start-ups to attack it. Hence the imperative for incumbents to start exploring this nascent technology. Blockchain has huge potential to enhance insurers’ business model, but is also being used by digital start-ups to attack it. Read more about The promise of blockchain[…]
Modernizing IT for a strategic role IT has long been seen as a cost of doing business by insurance companies. In a digital era, it must be modernized and recast as a strategic one. IT has long been seen as a cost of doing business by insurance companies. In a digital era, it must be Read more about Modernizing IT for a strategic role[…]
The age of innovation Insurers have a choice: be disrupted or be the disruptor with new products, services, and business models. Insurers have a choice: be disrupted or be the disruptor with new products, services, and business models. Source: McKinsey The age of innovation
Implementing a two-invoice system in China’s MedTech market The country is rolling out a new approach to pharmaceutical distribution. What can medical-device companies expect, and how should they prepare? The country is rolling out a new approach to pharmaceutical distribution. What can medical-device companies expect, and how should they prepare? Source: McKinsey Implementing a Read more about Implementing a two-invoice system in China’s MedTech market[…]
Nine practices for better capital-investment management Executives can improve performance by mastering several practices and adopting a capital-portfolio-management system powered by a comprehensive digital application. Executives can improve performance by mastering several practices and adopting a capital-portfolio-management system powered by a comprehensive digital application. Source: McKinsey Nine practices for better capital-investment management
Marrying art and science to improve lifecycle pricing How innovative retailers align analytics, processes, and organizations to boost profitability. How innovative retailers align analytics, processes, and organizations to boost profitability. Source: McKinsey Marrying art and science to improve lifecycle pricing
575: Low-Risk, High-Reward Innovation Wharton professor David Robertson discusses a “third way” to innovate besides disruptive and sustaining innovations. He outlines this approach through the examples of companies including LEGO, GoPro, Victoria’s Secret, USAA, and CarMax. It consists of creating a family of complementary innovations around a product or service, all of which work as Read more about 575: Low-Risk, High-Reward Innovation[…]