As IDC Health Insights predicted in August 2017 (Digital Transformation and New Economics Highlight Payer Disintermediation), we anticipated more deals and vertical integration. CVS announced its intention to buy Aetna. In December, and this week Amazon, Berkshire Hathaway, and JPMorgan Chase announced a partnership to cut health-care costs and improve services for their U.S. employees, with the aim of improving employee satisfaction and reducing costs.
The ‘Open Banking Revolution’, triggered by the second Payment Services Directive (PSD2), will see new, API-connected services brought to European consumers around the traditional core financial services, creating a more holistic banking experience. It is not just the regulation that is pushing banks to deliver customer-centric products and services. It is also the changing customer attitudes in the way they engage with their banks. It won’t be surprising if insurers are faced with a similar regulation or challenged by competitors influenced by the disruptions in banking sector.
What if you discovered oil in your backyard? How would you get it extracted from your property and deliver it to customers? Where would you sell it and what would you charge? If the world’s most valuable resource is no longer oil, but data, how does your enterprise leverage the data it already creates and manages to turn what is ‘in your backyard’ into a sustainable revenue stream?
Digital transformation (DX) is causing a shift in the enterprise. Business leaders must rely on new KPIs for effective IT measurement. This blog covers the shift from traditional IT KPIs to the new KPIs that are being demanded as organizations are disrupted by digital transformation.