June 28, 2021
174 | Digital Transformation for the Insurance Industry with Monica Caldas
Insurance is one of those things that customers don’t really like to think about buying. They know they need it, but they don’t really want to pay for it and that leads to a fractured experience. How can digital transformation be used to create stronger customer relationships and engagement?
Monica Caldas has spent much of her career creating digital solutions and influencing innovation at one of the world’s largest companies, GE. In her role as global CIO for GE Transportation, she’s helped drive how the transportation industry uses data and digital services to grow revenue. Now, she’s helping shape the future of insurance as EVP and Chief Information Officer, Global Retail Markets at Liberty Mutual.
She talks about what digital transformation means to her, how Liberty Mutual is trying to change customers’ relationships with insurance, and the role of AI in digital transformation.
Building Strong Customer Relationships & Improve Ongoing Experience
- Changing the dynamics around insurance to create a better experience.
- Educating consumers on how they can think about insurance.
- The Quantum platform at Liberty Mutual is designed to enable rapid creation and deployment of insurance products without needing a lot of IT intervention.
Advice for Women Working in Technology
- If you’re interested, go for it. The tech world needs more women.
- Don’t be afraid to blaze your own path. Be active, bold, and engaged. You never know what doors may open, and you want to have a sense of where you’re headed.
- Have a board of advisors: mentors that can give you feedback and coaching, and sponsors who will speak up for you and represent you.
- Understand the shadow that you cast. Be aware of how you show up in the room because perception is reality.
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Since 2014, 3Pillar has published The Innovation Engine, a podcast that sees a wide range of innovation experts come on to discuss topics that include technology, leadership, and company culture. You can download and subscribe to The Innovation Engine on iTunes, Stitcher Radio, Spotify, and SoundCloud to listen online, via Android or iOS, or on any device supporting a mobile browser. You can download The Innovation Engine’s dedicated iOS app from the Apple Podcasts App store, and you can subscribe to receive new episodes in your inbox each time one is published.