Bernhard Kotanko’s Post

>90% of companies run in some form a digital transformation. Yet, only ~30% see the full economic benefit expected come through. Especially in insurance, McKinsey & Company research shows that productivity levels have been flat. At this week's Insurtech Insights conference in Hong Kong I discussed with an esteemed panel of business and technology leaders about how to capture the full benefit from digital transformations. Special thanks to panelists Sue Coulter, David Broom, Michael Kwan Yu Chan and Chris Iacovou for a rich discussion. 4 main take-aways I want to share: 1. Be clear upfront about the business and operating objectives, the scope and tangible business KPIs. 2. Be holistic and integrative in how you run the transformation: defining clear business-ownership overall, integrating of all capabilities in one team, staffing the right people, creating the right mindset and shaping a fast pace, empowered way of working. 3. "Rewire" all parts of the business to make full use of innovation. This includes talent, operating model, definition of business outcomes, underlying data, and of course technology. 4. Craft a journey to scale, always being "relatable" for customers and staff to follow the change in customer experience, new offerings and new workflows.

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