4 immediate solutions:
- Design information technologyarchitectures that are adaptable and attuned to the business.
- Invest in proactive recruiting and skills development.
- Partner with tech-savvy firms.
- Support new initiatives too foster innovation outside the mainstream, such as innovation labs.
In 2011, venture capitalist Marc Andreessen famously coined the phrase “Software is Eating the World” in a Wall Street Journal article. The point: Companies across industries are doing so much digital and tech work that they are, essentially, becoming software providers in addition to their original businesses. And, we’re seeing that happen in the insurance industry as well.