Snap Poll on Building a Digital Culture in Life Insurance
Available Only for Members of the NA Celent Insurance Research Panel
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. Fourteen insurers responded to this survey over the course of three days, May 18-21, 2021
The question that was posed was:
An insurer is looking for suggestions and help on digital transformation. They find that changing the culture and mindset can be spotty. They 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 to digital mindset.
- 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?