PROPOSED DIGITAL TRANSFORMATION STRATEGY FOR SUN LIFE FINANCIAL INDONESIA

• Main Author: Muhammad, Elliza
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/61640
• Institution: Institut Teknologi Bandung

Along with technological developments and society's adaptation to digital technology, all sectors are experiencing rapid changes that change the value chain or what is commonly referred to as disruption. Disruption brought by digital technology has proven to change the face of the industry with the emergence of new players who are more agile in seizing the incumbent market share. To be able to compete well, companies must continue to innovate to increase competitiveness by adapting to technology. Although the impact of the digital technology is already visible, insurance companies need more time to adapt. Sun Life Financial Indonesia needs to immediately define the right strategy for transformation, how companies can prepare the right foundations for transformation and innovating continuously. In this final project, the author tries to map the company's position in digital readiness and capability, and prepares the right digital transformation foundation to support these changes. The tools used in this final project are Porter's Five Forces, PESTEL, VRIO, Value Chain Analysis, and Digital Mastery Self-Assessment. After analysing the problem, the author got several findings, including the position of Sun Life in the digital mastery level quadrant, competitive conditions in the Life Insurance market in Indonesia, external conditions, the company's competitive advantage, and activities that become value drivers for the company. Based on the findings above, the author provides business solutions in the form of a digital transformation building blocks which is divided into three major focuses, namely digital capabilities, organization, and business. Digital transformation is not a project that can be achieved in a short time, but a business transformation journey that will change continuously. For this reason, companies need to prepare solid foundations to become an adaptive company and achieving business goals.