Liberty Mutual – Digital Transformation Strategies
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Liberty Mutual has been focusing on AI-led innovation as a part of its digital transformation strategies. The annual ICT spending of Liberty Mutual was estimated at $1.9 billion in 2021. A major share of this spending is earmarked for acquiring software, hardware, and ICT services from vendors. Liberty Mutual is a property and casualty insurance company that offers a range of insurance products to individuals, families, and businesses.
The Liberty Mutual digital transformation strategies report will act as a reference point to understand a company/competitor’s digital strategy. It will also help in understanding the digital preparedness of the company against its peers. Information included in these reports are sourced from a mix of our very own internal database and authentic secondary research links such as company’s annual report, presentations, press releases etc. The report covers overview of the company, its digital transformation strategies, technology focus areas, technology initiatives, technology introductions, investments, acquisitions, ICT spending among others.
Digital Transformation Strategies
Liberty Mutual is applying artificial intelligence to convert unstructured documents of companies into structured data, extract loss history data, and share loss history data with underwriters. This allows Liberty Mutual to write commercial insurance policies quickly and precisely for companies as per their individual loss histories. The company has also leveraged AI to help its commercial policyholders protect their employees from workplace injuries. The company’s AI powered ErgoValuator app uses AI to capture different parameters of workplace tasks and analyze injury risks associated with them.
To gain more insights on digital transformation strategies and initiatives of Liberty Mutual, download a free report sample
Liberty Mutual Technology Theme Focus
Liberty Mutual is utilizing number of emerging technologies including big data, blockchain, and cloud to improve operational efficiency, diversify product portfolio, and enhance customer experience.
Liberty Mutual Technology Theme Focus
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Liberty Mutual Technology Initiatives
Liberty Mutual has been involved in several strategic technology partnerships and collaborations, technology developments and roll outs, acquisitions, and technology investments over the past few years.
For instance, Liberty General Insurance partnered with Inspektlabs to develop an AI based car inspection solution. Inspektlabs is a developer of computer vision technology platforms that automate inspection of physical assets. Customers can use the AI driven mobile app to take videos and photos of their car for claims assessments and policy renewals. The uploaded videos and photos are sent to the cloud, where they are assessed and an inspection report comprising claim and damage assessment is produced. The application allows customers to quickly renew a policy or settle claims.
For more insights on other technology initiatives of Liberty Mutual, download a free report sample
Liberty Mutual ICT Spend by Function
- Communications
- Data center
- Network
- Application
- End-user computing
- Service desk
- Management
Liberty Mutual ICT Spend by Function
For more insights on ICT spending by function, download a free report sample
Liberty Mutual ICT Spend by Channel
- Internal development and maintenance
- Technology vendors (direct)
- Local resellers
- Telcos
- ICT services providers/Consulting firms
- Specialist outsourcers
- Systems integrators
Liberty Mutual ICT Spend by Channel
For more insights on ICT spending by channel, download a free report sample
Liberty Mutual External ICT Spend by Segment
- ICT services
- Software (including Cloud SaaS)
- Hardware (including Cloud Iaas)
- Network and communications
- Consulting
- Others
Liberty Mutual External ICT Spend by Segment
For more insights on external ICT spending by segment, download a free report sample
Liberty Mutual Digital Transformation Strategies Overview
Total ICT Spending 2021 | $1.9 billion |
ICT Spend by Function | Communications, Data Center, Network, Application, End-User Computing, Service Desk, and Management |
ICT Spend by Channel | Internal Development and Maintenance, Technology Vendors (Direct), Local Resellers, Telcos, ICT Services Providers/Consulting Firms, Specialist Outsourcers, and Systems integrators |
External ICT Spend by Segment | ICT services, Software (including Cloud SaaS), Hardware (including Cloud Iaas), Network and communications, Consulting, and Others |
Technology Theme Focus | Big Data, Blockchain, and Cloud |
This report provides:
- Insight into Liberty Mutual’s technology activities.
- Insights of its digital transformation strategies and technology center & innovation program.
- Overview of technology initiatives covering partnerships, investments, and acquisitions.
- Insights on each technology initiative including technology theme, objective, and benefits.
- Details of estimated ICT budgets and major ICT contracts.
Reasons to Buy
- Gain insights into Liberty Mutual’s technology operations.
- Gain insights into its technology strategies and innovation initiatives.
- Gain insights into its technology themes under focus.
- Gain insights into its various partnerships, investments, and acquisitions.
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Table of Contents
Frequently asked questions
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What was the total ICT spending of Liberty Mutual in 2021?
The annual ICT spending of Liberty Mutual was estimated at $1.9 billion in 2021.
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What are the key ICT spending categories by function for Liberty Mutual?
The key ICT spending categories by function for Liberty Mutual are communications, data center, network, application, end-user computing, service desk, and management.
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What are the key ICT spending categories by channel for Liberty Mutual?
The key ICT spending categories by channel for Liberty Mutual are internal development and maintenance, technology vendors (direct), local resellers, telcos, ICT services providers/consulting firms, specialist outsourcers, and systems integrators.
-
What are the key external ICT spending categories by segment for Liberty Mutual?
The key external ICT spending categories by segment for Liberty Mutual are ICT services, software (including cloud SaaS), hardware (including cloud IaaS), network and communications, consulting, and others.
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What are the key technology themes in focus for Liberty Mutual?
The key technological theme in focus for Liberty Mutual are big data, blockchain, and cloud.
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