The NBI-tool helps a large Danish insurance company benchmark digital readiness and map out a plan for action. A more systematic approach improves our strategy as well as our operational execution, says Digital Business Developer, Peter Norregaard, Alm. Brand.
Insurance companies are heavy collectors of data that assess risks and predict their client’s behavior.
”The amount of digital data in a company like ours is huge. The challenge is to exploit this data in the best possible way. We have a large unused potential, when it comes to converting data into better business processes and solutions. But understanding tactically where and how data analytics can be applied in a big organisation like ours is a major challenge” says Digital Business Developer Peter Norregaard from Alm. Brand Group, Denmark. “Using the NBI Platform to get an overview, an x-ray you could say, of our organisations ability to utilise different technologies across our organisation has been the optimal way for us to map out our current state and create a plan for moving forward.”
Besides focusing on better use of data – Peter and Alm. Brand has a strong focus on the company’s use of mobile solutions and data concerning customer behavior, e.g. on social media.
Using the NBI tool Alm. Brand has been able to gain insight and inspiration specifically into these two areas. And, anonymously, compare their own performance to that of their industry average and top performers.
”The NBI-tool can help us map out our digital efforts and more effectively help us move in the right direction,” he says.
Peter Norregaard stresses that a notable advantage lies in the cross-departmental visibility, provided by one of the frameworks on the NBI platform.
”It is the only tool, I have ever seen, which takes a holistic approach to digitisation. It provides the entire organisation with a common understanding, based on facts. By providing the dashboard with data from different business areas we can openly discuss our different approaches and assessments of Alm. Brand’s digital performance. This is a good starting point for a sustainable strategy,” he says.
His formula for working systematically with the organisation’s digital potential is simple.
- collect data from different sources
- identify insights and problems across the organisation
- initiate data driven initiatives
- analyse and follow up.
“But you need the NBI-tool to “get the canoe into the water” as Peter Norregaard puts it.
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The Alm. Brand A/S Group is a Danish financial services group operating within non-life insurance, banking and life and pension insurance.
Learn more about Peter on LinkedIn: https://dk.linkedin.com/pub/peter-nørregård/1/157/811