A decade of societal change

Are Insurers focusing their attention on the right priorities?

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Insurance companies have had to navigate a decade of societal change. From the financial crisis and the rise of digital technology to changing consumer expectations, insurers face challenges that are fundamentally altering the very core of our industry.

To remain relevant, insurers are seeking ways to embrace change while also ensuring profitability despite today’s highly blurred competitive lines. While some insurers have embraced the new environment with open arms, others seem reluctant to adapt or even acknowledge potential opportunities for growth.

A few questions remain:

  • Will property and casualty insurers be able to keep pace with changes in society over time?
  • Are they focusing on the right priorities?
  • What about life insurance – is BigTech making any headway here to challenge established practices?

The webinar attached below discusses these trends and more as we examine how insurers can best position themselves for success during this period of rapid transformation.

 

You can investigate the initiatives we discussed during the webinar using this link to IBM‘s site.

A few words about David Kwon

David is a sought-after Digital Reinvention executive to IBM’s largest US and international insurance and banking clients. David is an associate partner within IBM business transformation services and a member of IBM Industry Academy.

David has delivered over 60 strategy and transformation projects as an engagement leader, and in executive strategic roles ranging from digital strategy, customer experience, the business case for change.

One topic David and I have in common includes how to operationalize, industrialized, and democratize Innovation Labs better and in particular how to deliver on the promise of “innovation as a service model”.

David top focus areas include:

  • creating digital strategies centered on customer experience and driven by a business case
  • designing and operationalizing Innovation Labs founded on design thinking principles to deliver innovation-as-service
  • architecting enterprise and functional operational models that align experience, process, organization, data, technology, and location to deliver on strategic intents
  • leading business-driven Technology strategies to design target state enterprise and cloud architectures, and implementation roadmaps
  • using advanced analytics to find untapped revenue and customer experience opportunities
  • providing implementation leadership throughout the digital reinvention journey

You can read a little bit more on our recent discussions with the IBM Insurance team by reviewing:

If you want to know more…

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