Do You Trust Your Data?
The insurance industry will be investing $2.6b in digital transformation projects by 2021.
The reasons why the insurance industry lags behind in projects:
- IT budgets have not grown (avg. 3.8% in 2020 – most legacy maintenance)
- Lacking vision re WHY need to change
- Not yet challenged by disruptor
- Roadmaps tactical and not strategic (process optimisation over business model transformation)
- Culture = inherent lack of appetite for risk
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