Snap Poll on Building a Digital Culture

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27 April 2021
Karlyn Carnahan and Andrew Schwartz

Available Only for Members of the NA Celent Insurance Research Panel

Abstract

Snap polls reflect questions posed by members of the Celent Executive Research Panel, a group of C level executives in the insurance industry. This question came about from a member who is looking at their digital transformation strategies and progress. Twenty three insurers responded to this survey over the course of three days, April 20 – April 23, 2021

The question that was posed was:

Background:

An insurer who is looking for suggestions and help on digital transformation. They find that changing the culture and mindset can be spotty and are trying to figure out if they’re in the same place as everyone else and if there is ‘wisdom of crowds’ of how to help their organization make the shift.

Questions:

  • On a scale of 1-5 where 5 is high, how important are digital products to your organization? (A “digital product” is a good or service provided via technology that has a goal of providing value to a user – this could be a B2B application, internal systems, an API, etc.)
  • How would you describe a digital product mindset?
  • On a scale of 1 - 5 how would you define your organization’s digital mindset - where 1 is ‘trying to get there’ and 5 is ‘ we rock it - almost the whole firm is thinking digital”?
  • As you began to evolve to a digital mindset (or as you’re evolving), what did you find (or are still finding) your biggest challenges?
  • What did you find (or are you finding) to be the most successful techniques for shifting mindsets in the organization to a digital product mindset?
  • Have you been able to measure the value of shifting to a digital product mindset? How are you doing that?
  • Approximately how many employees are in your IT organization today?
  • What lines of business do you write?

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Insight details

Industry
Property & Casualty Insurance
Subscription(s) required to access this Insight:
Insurance
Insight Format
Reports
Geographic Focus
North America