Digital transformation continues to be a key agenda for enterprises across industries, as they work to gain superior efficiencies and provide a differentiated customer experience. However, at times, these efforts remain siloed, largely restricted to specific business units within an organization, thereby rendering short-lived benefits. What is required is digital transformation of the core operations model, which may pose bigger challenges upfront but, if managed well, can help enterprises unlock the true potential of their transformation-oriented investments.

In this study, we introduce such a digitally integrated operations model and its various components and outline how enterprises can effectively transform their businesses. Coordinating efforts across key business pillars to ensure operational continuity would be key in such an exercise. However, the best practices to be followed and potential challenges would also depend on enterprises’ operational maturity. This research comprehensively covers enterprises’ journey to a digitally integrated operations model, with focus on the insurance industry. Instituting such an operating model safeguards future relevance and ensures sustainable growth.

Scope

Industry: insurance

Geography: global

Contents

In this study, we:

• Evaluate the characteristics of a digitally integrated operations model, its architecture, and expected business outcomes
• Understand the transition steps involved, the role of a service provider, and how it varies by maturity of operations
• Assess the readiness and gaps in operations and businesses that are transforming their operating models

Membership(s)

Insurance Business Process

Sourcing and Vendor Management