The effect of visioning on digital transformation in the insurance industry

Abstract

Digital transformation destination is much easier when a clear vision is communicated up and down the organization. This study seeks to explore the effect of visioning on digital transformation in the insurance industry. The study used a positivist research philosophy and a quantitative research approach. The research used primary data, which was collected using a questionnaire. Data analysis was done using regression analysis, descriptive statistics and paired sample t-tests. Normality and reliability were tested using the Shapiro-Wilk test and Cronbach’s alpha, respectively. The study findings revealed that visioning significantly influences digital transformation (t=1.129, p=0.000<0.05). Visioning is the art of modeling an organization's culture and is the critical variable towards digital transformation. The study recommends the regulator, the Insurance and Pension Commission, might need to enforce digital transformation within the insurance space. Visioning is critical in the insurance sector’s digital transformation process.