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IDC MaturityScape: Digital Transformation in Insurance

IDC MaturityScape: Digital Transformation in Insurance

This IDC study describes IDC's Digital Transformation MaturityScape for life and P&C insurers. It identifies the stages, dimensions, outcomes, and actions required for businesses to digitally transform their operations, organizations, products, and services. It also serves as a guide for life and P&C insurance business and technology executives to identify areas in need of improvement in support of digital transformation in five key areas or disciplines: Leadership DX, Omni-Experience DX, WorkSource DX, Operating Model DX, and Information DX."Aging legacy systems, manual processes, data protection and regulation, culture issues, and talent shortage are all barriers to transformation for insurers," said Sabitha Majukumar, senior research analyst, IDC Financial Insights. "However, they cannot afford to wait for the perfect strategy to kick-start their transformation journey. The need of the hour is to build and deploy digital capabilities while also tackling the barriers. Digital transformation will clearly separate the insurers that will flourish over the next decade through innovation and strong commitment to DX at all levels in the organization from the ones that will perish from non-action."


IDC MaturityScape Figure
IDC Opinion
In This Study
Situation Overview
Stages of IDC's DX MaturityScape
Ad Hoc
Description
Business Outcome
Opportunistic
Description
Business Outcome
Repeatable
Description
Business Outcome
Managed
Description
Business Outcome
Optimized
Description
Business Outcome
Using the IDC MaturityScape: Digital Transformation in Insurance
Dimensions of IDC's DX MaturityScape in Insurance
Leadership DX
Omni-Experience DX
WorkSource DX
Operating Model DX
Information DX
Essential Guidance
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Related Research
Synopsis

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