Voya Financial, Inc. is a leading health, wealth, and investment company that helps Americans become well planned, well invested and well protected. But how do they do this from a digital perspective?
Santhosh Keshavan, EVP and CIO at Voya, explains how they excel in the life insurance industry with their digital transformation efforts. He reveals the key components for digital transformation, their ambitious plans for the near future, the power of turning data into ‘intelligent data,’ and more.
Hear how Voya Financial, Inc. is using data to their advantage to grow their impact in the market.
[00:00 - 02:21] Introduction to Santhosh and Voya Financial Inc.
[02:21 - 04:31] Santhosh’s role at Voya Financial Inc.
[04:31 - 06:07] Voya’s foundational work towards simplifying legacy systems
[06:07 - 07:39] How Voya defines digital transformation and interaction
[07:39 - 09:24] Challenges facing data migration and quality
[09:24 - 12:54] Voya’s transition to the cloud and the tradeoffs that come with it
[12:54 - 16:54] The My Voyage mobile app and interacting with customers
[16:54 - 18:50] Consolidation efforts to making the My Voyage mobile app possible
[18:50 - 20:18] Partnerships and digital transformation at Voya
[20:18 - 21:43] How the skill sets of the IT organization Voya is changing
[23:43 - 25:18] How Voya works to attract and retain talent and customers
[25:18 - 25:25] Closing
Transformation will always be happening because technology is changing so fast. To keep up, you have to take initiative in consolidating core systems, investing in other foundational areas, focusing on data, creating a smooth customer experience, and enabling faster adoption.
The first and most important component in the insurance market is data - having a good understanding of it and creating intelligence from it.
Migrate data! Ever since Voya migrated their data to the cloud, they experienced more flexibility and were able to take advantage of innovation and transformation.