100 insurance companies were surveyed to understand how they view their journey to operations maturity.
Our experience indicates that operations maturity can translate into tech-savvy ways to acquire customers faster or discover new revenue growth.
This means combining data, technology, processes and people into an intelligent, data-driven— and more resilient—operating model.
3. Intelligent Operations | Insurance Industry View
100 insurance companies were surveyed to
understand how they view their journey to
operations maturity.
Our experience indicates that operations
maturity can translate into tech-savvy ways
to acquire customers faster or discover new
revenue growth.
This means combining data, technology,
processes and people into an intelligent, data-
driven—and more resilient—operating model.
The importance of
operational resilience
Intelligent Operations | Insurance Industry View
5. Intelligent Operations | Insurance Industry View
1.7x
higher efficiency
levels for future-
ready organizations.1
More efficient
Advantages of being
future-ready
1 Future-ready organizations exhibited 6.4 pp higher profitability and 13.1 percent greater efficiency, on average
Source: Accenture Research and Oxford Economics Intelligent Operations Survey, 2020
Other future-ready benefits:
Improved talent mix, reskilling, customer
experiences and ecosystem relationships
2.8x
boost in corporate
profitability for
future-ready
organizations.1
More profitable
Intelligent Operations | Insurance Industry View
6. Intelligent Operations | Insurance Industry View
Technology and
AI are the final
barriers to scaling
future-ready
operations.
Insurers lead in 6 of the 8 characteristics
that determine operating model maturity
83%
79%
73%
72%
77%
71%
69%
55%
60%
65%
67%
71%
74%
74%
75%
68%
Data
Analytics
Leading practices
Business-technology collaboration
Agile workforce
Automation
Stakeholder experience
AI
Currently in wide use or use at scale (Insurance)
Currently in wide use or use at scale (All industries)
8. Intelligent Operations | Insurance Industry View
Three ways to become future-ready:
03
02
01
Know how
to leapfrog
maturity levels
Know the key
steps
Know the
ultimate goal
10. Intelligent Operations | Insurance Industry View
Progress happens
when business and
technology come
together by developing
joint governance
models, aligning and
integrating ecosystem
partners, and
co-creating the
strategic roadmap that
improves stakeholder
experiences.
01 Know the ultimate goal
The customer experience
cultivates loyalty. The
employee experience
drives retention and
acquisition. And the
partner and supplier
experience fuels a
strong ecosystem.
Make the
stakeholder
experience your
North Star
Bring business
and technology
together
of insurers expect
business and technology
functions to collaborate
fully by 2023; just 15%
are doing this today.
53%
22. Intelligent Operations | Insurance Industry View
Appendix
Four levels of operations maturity:
Predictive
Concentrate mostly
on core process
improvements and on
improving quality and
compliance controls.
Stable
Future-ready
Efficient
More productive, they
incorporate tested
methods, such as Lean
Six Sigma and process
standardization and
deploy automation
technologies.
Focus on how automation
can support and augment
human ingenuity. They
deploy technologies and
leading practices with
that goal in mind.
See increased efficiency
and profitability, improved
stakeholder experiences and
better business outcomes.
They are more agile and
resilient than others.