Adacta in Bloomberg: Digital technology is transforming the insurance industry

The following is an excerpt from the October 22 article:

"Getting digital-ready is not like flipping a switch. The insurance industry has been around for centuries and is risk-averse as a rule, so any cultural change required to capitalize on digital initiatives presents challenges.

Begin by getting buy-in from top management and implementing formal learning and training programs that will disseminate change across the organization. Employees need to be capable of more than just using technology solutions; they need to understand how new digital capabilities touch every aspect of their jobs and help them be nimbler and more productive.

Building a digital-ready organization is a journey. It involves many moving parts, from focusing on technological details while sketching out the big business picture to transforming company culture. However, it’s not a task you can put off. Digital leaders are already reaping the benefits and accelerating their efforts. This makes any holdouts more vulnerable to disruption from both smaller and larger competitors ..." Continue reading