"the CEO cannot simply sanction a digital transformation; he or she must communicate a vision of what needs to be achieved, and why.."
Allianz announced that a key strategic growth initiative was to become “digital by default”—indicating the extent of the changes ahead.
See "Allianz harvesting digital dividend"
McKinsey research shows that the lion's share of profits will go to those insurers that take the digital plunge- and are effective of course.
See "Winner takes most in digital transformation"
All the more reason for CEOs to take note and plan for full digitilisation across the whole business. Most are playing with a little front-end digital innovation here and a little automation there. But make no mistake-
Some are taking the bull by the horns and embracing all products and all geographies to deliver a delightful experience to customers. Digital and cultural and organisational transformation combining the best of the human mind with technology
Any transformation will be dead in the water if it does not have the commitment of the CEO and the leadership team. That statement seems almost glib, given how often CEO commitment is positioned as the solution to any major challenge. But the CEO cannot simply sanction a digital transformation; he or she must communicate a vision of what needs to be achieved, and why, in order to demonstrate that digital is an unquestionable priority, make other leaders accountable, and make it harder to back-track. Hence, in 2015, Allianz announced that a key strategic growth initiative was to become “digital by default”—indicating the extent of the changes ahead. Similarly, ING branded its transformation “Fast Forward.”
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