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Measuring Industry Digitisation – booz&co Report

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Article Synopsis :

As a result of technological innovations, the world has become a global village and digitisation is the barometer of profitability for various industry players. The revenue and level of digitisation are becoming intertwined. As such, the push towards increased digitisation is gaining momentum. It’s important for enterprises to get a hang of the level of digitisation they need and corporate CIOs will have to rise to the challenge.

 The Digital Insurer reviews booz&coz’s Report on Measuring Industry Digitisation

Digitisation measures – are you going up or down?

To gain a better understanding of the relative degree to which digitisation is transforming different industries booz&co presents the ‘Industry Digitisation Index’ in the report titled “Measuring Industry Digitisation”. The four factors involved in the digitisation effort on which the index is based are:

  • Input
  • Processing
  • Output
  • Underlying infrastructure

The report also identifies the leaders and laggards among industries, the momentum of digitisation, investment priorities and the role of geographic divide as the differentiating factor with respect to digitisation.

 

Link to Full Article:: click here

Digital Insurer's Comments

Even though the report indicates that the financial services and insurance sectors are at the top of the list, when it comes to digitisation the latter lags behind the former sector.

The Banking sector defines the benchmark and best practices of digitisation and flexes its muscle when it comes to customer-centricity. Insurers keen on digitisation should adopt best practices from the Banking sector in order to beat competitors and stay in the game 

Link to Source:: click here

 

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