Entsia lists nine ways to succeed during digital transformation

28 February 2022

Digital insurance expert Entsia has listed key considerations when undertaking a tech transformation which it says will allow businesses to stay “agile and scalable” as competition escalates.

Entsia CEO Alistair McElligott and ANZ Associate Partner Head of Insurance ANZ Jason Koehn shared their “digital smarts” at a Digital Transformation Summit in Sydney earlier this month.

Entsia, which provides distribution, policy claims and credit control solutions via its end-to-end digital platform, lists the following common approaches to successful digital transformations:

Be blinded by the vision: Successful projects have clarity of vision, a ruthless application to it and a driven team that pushes it forward
Start with a blank sheet of paper: Migration is not transformation. Start from scratch instead of doing the same thing and expecting different results
Focus on being future proof: Know that one size doesn’t fit all and one system won’t solve everything. Look for solutions that are best in class, scalable and proven
Integrate your vendors into your team: True team integration leads to improved efficiencies, stronger ideas and a ‘one team’ focus
Be curious to evolve and innovate: Transformation doesn’t have an end date, invest in long term evolution and innovation
Know both strengths and weakness when you invest in vendor software to find the right solutions
Implement pragmatic thinking and agility: Logic delivers greater benefits
When assessing partners and suppliers, focus not on size but CREED: Credentials, References, Experience, Expertise, Domain knowledge
Have an appetite for risk: What is your willingness to co-invest in the development of functionality not available out of the box? Do you want to bring 30 years of legacy to your digital transformation?