3 transformational challenges for P&C insurers
Transformational forces need to be addressed carefully across the entire industry. Start building foundation layers for transformation based on business models, resources and internal parameters. With no standard recipe to implement these transformations, execution is the most important element for delivering success. Insurers should build or repair their execution engines before making heavy investment in these areas. Phased execution is recommended for delivering transformations, but companies must take a customer centric approach and assess value proposition before getting started.