The document outlines five steps for insurance companies to achieve digital success: 1) Measure digital progress, 2) Focus on capabilities that can be applied across businesses and products, 3) Balance investments across planning, developing, selling, and managing, 4) Differentiate with smart geographic and financial management, 5) Rapidly share successful practices. It notes that while insurers have invested heavily in digital, few have seen strong financial returns, but embracing digital transformation could increase profits by 100%.

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The Digital Multiplier:
Five steps to digital success in the
insurance sector

2. The insurance industry is
trailing the digital pack
Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
The insurance industry lags both in its level of
digitalization and in its ability to realize financial
returns on its digital investments.
In the last three years, investments in
digital technologies have averaged
$45 million per company globally.
Only 5% of insurance companies
were able to couple strong digital
and financial performance.

3. Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
Yet opportunity is out there
The potential prize is considerable.
Insurance companies that
embrace digital
transformation could
increase their underwriting
profits by 100%.

4. Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
Enhancing digital
performance
Since digital technologies lie at the
heart of insurance’s future growth
potential, insurance leaders need to
make sure their digital investments
multiply value creation.
The Accenture Digital Performance
Index assessed how companies use
digital technologies and channels to
plan, make, sell and manage their
business activities. We found that by
failing to embrace four fundamental
success factors, insurance companies
are missing out on significant returns.

5. Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
Enhancing digital
performance
1
Equate digital with driving
value: High performers show a
64% improvement on digital
leaders in terms of revenue growth,
and a 48% difference on
profitability (return on equity).

6. Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
Enhancing digital
performance
2
Apply a digital multiplier:
Some insurers are successfully
applying digital investments to
increase gains from the current
business and help build a
sustainable future.

7. Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
Enhancing digital
performance
3
Balance investments across
all digital dimensions:
Insurers see digital as a key
component of their growth strategies,
and often have devised a partial plan
on how to integrate digital activities
into their businesses.

8. Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
Enhancing digital
performance
4
Adopt geo-specific portfolio
management: Running a
cross-market platform approach,
that suits individual insurers’
geographic needs, avoids duplication
and brings scale to investments.

9. Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
1
Measure digital progress: Establish
clear group-level digital-maturity and
value-creation measurements to
assess time-to-value for investments.
Five steps to digital success in insurance
Insurers must convert digital capabilities into financial benefits to compete on a
global stage. Winning insurers need to:

10. Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
2
Focus on the digital multiplier:
Understand which capabilities are
structurally local, or specific to
one line of business or product,
versus those that apply across
most dimensions.
Five steps to digital success in insurance
Insurers must convert digital capabilities into financial benefits to compete on a
global stage. Winning insurers need to:

11. Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
3
Balance investments and execution
efforts: Involve all four areas of
digital performance—plan, make,
sell and manage—at a group and
local level.
Five steps to digital success in insurance
Insurers must convert digital capabilities into financial benefits to compete on a
global stage. Winning insurers need to:

12. Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
4
Be geo-savvy: Differentiate with
smart geographic and financial
portfolio management
Five steps to digital success in insurance
Insurers must convert digital capabilities into financial benefits to compete on a
global stage. Winning insurers need to:

13. Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
5
Rapidly share successes: Share
leading practices in areas where
high performance digital
capabilities cannot be applied.
Five steps to digital success in insurance
Insurers must convert digital capabilities into financial benefits to compete on a
global stage. Winning insurers need to:

14. LEARN MORE
about how insurance companies can use digital
to drive value with our full report:
Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
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The Digital Multiplier:
Five steps to digital success in the insurance sector