Secure the competitive advantage | KPMG | BE
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Secure the competitive advantage

Secure the competitive advantage

At its simplest, insurance provides financial protection for what we value and so insurers have differentiated themselves on the keenness of their pricing, their financial solidity and superior service – in practice a recipe for commoditization. Tackling legacy systems is the gateway to unlocking data across the entire value chain, including vast unstructured data housed in various systems which has long been accumulated without consistently harnessing it for business benefit. Successful players have applied technology to better segment, rate and price risk more accurately.


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Secure the competitive advantage

Maximizing corporate value requires delivering great customer experience, yet around the world we see many insurers and intermediaries still focused on product and channel silos rather than orientated around creating value for customers. Our research suggests the need greater technolgoy enablement. Such a transformation represents a massive change.

Digital Strategy Framework

  • Direction setting: strategic content, digital maturity assessment, digital strategy objectives, principles and constraints, digital vision, cultural and behavioral change management.
  • Customer propositions: customer and colleague research.
  • Business design: digital capability model, digital technology strategy, operating model impacts.
  • Execution planning: digital strategic roadmap, case for change, strategy execution and program design.
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By partnering with leading retailers, insurers could gain invaluable customer behavior data to improve the accuracy of risk pricing.

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